How to Spot Good Business Opportunities
How to Spot Good Business Opportunities
THE PRODUCT MEETS A NEED
If there is something lacking in your business the obvious things to do is seek a solution. In this way you plug the gap, so to speak. At other times, opportunities are presented to you and you have to decide on whether it's a good fit for your business.
It can be tricky, especially when there is some investment involved on your behalf. Ask yourself if the product or service will fulfill the needs of your customers or business. Will it add value that translates into reputation or profit. Have a criteria for deciding on new opportunities.
THE OPPORTUNITY WORKS AT YOUR LOCATION
Many companies are very location dependent, they service the needs of the local community and have established reputations. Before you invest in a new opportunity it makes sense to evaluate whether it will work well in your present location.
Some market research is useful in this respect. However, that is not always possible, especially when confronted with a now or never investment opportunity. It pays to foresee these opportunities by keeping in touch with how your community feels. Accomplish this through regular market research.
IT ADDS VALUE TO YOUR BUSINESS
If you're in the education sector you should be interested in the latest editions of textbooks for students, similarly, you operate a dental surgery you need to keep the environment clean, modern, and sterile for customers. Whether directly or indirectly, products and services need to add value to your business.
Even though the products supplied by Medifit might not deliver direct revenue, they will certainly improve the reputation of your local surgery which will translate into higher income and better customer retention. If the opportunity supports your business indirectly it is worth considering.
YOU CAN SELL THE PRODUCT
When you look at a new product it's important to assess the pricing. The product might be ideal for your brand but if the numbers don't work it could put you in a black hole. Consider the retail price and whether this product is worth taking on.
Services are slightly different. Normally an opportunity will be offered in the form of a service to your business or company. You need to decide what value that service adds, for your reputation or customers, before investing in it. Usually a service won't require an immediate decision.
THE TIMING IS RIGHT FOR YOU
Finally, timing is one of the most important factors on the list since it relates to every business opportunity decision. Whether it is the timing of the market for launching a product, or the timing of the local community for relevance, the right timing can make all the difference to the success or failure of a product.
You might have the perfect product or service, but if it's presented to a lukewarm audience it might fall flat. At the same time you might be missing out of a golden opportunity that your competitors are presently taking advantage of. Assess the market and your local community before pushing the boat out.
Image Credit: Designed by pch.vector / Freepik
If you enjoyed this post please comment and share if you want more content like this

Dave Gardner
Skype: barefootpainting
Facebook: http://Facebook.com/TheDavidGardner
Youtube: http://Youtube.com/Barefootpainting
Instagram: http://Instagram.com/SuperDaveGardner
Email: DaveGardner@MagneticSponsors.com
Work With Me – Jeunesse or The Now Lifestyle
PS: If Your Upline Does Not Have a Step-By-Step Blueprint For Success, Check This Out (Unless You Already Have Too Many Leads) – Click here to access Elite Marketing
If you enjoyed this blog, retweet, share and comment below please
Bitcoin
Ethereum
Cardano
Polkadot
Binance coin
Litecoin
Chainlink
Stellar
Bitcoin cash
Dogecoin
Uniswap
Tron
Cosmos
Tezos
Dash
Maker
Dai
Vechain
Zcash

Donate Bitcoin to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Bitcoin in seconds. We thank you in advance for your patronage!

Donate Ethereum to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Ethereum in seconds. We thank you in advance for your patronage!

Donate Cardano to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Cardano in seconds. We thank you in advance for your patronage!

Donate Polkadot to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Polkadot in seconds. We thank you in advance for your patronage!

Donate Binance coin to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Binance coin in seconds. We thank you in advance for your patronage!

Donate Litecoin to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Litecoin in seconds. We thank you in advance for your patronage!

Donate Chainlink to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Chainlink in seconds. We thank you in advance for your patronage!

Donate Stellar to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Stellar in seconds. We thank you in advance for your patronage!

Donate Bitcoin cash to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Bitcoin cash in seconds. We thank you in advance for your patronage!

Donate Dogecoin to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Dogecoin in seconds. We thank you in advance for your patronage!

Donate Uniswap to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Uniswap in seconds. We thank you in advance for your patronage!

Donate Tron to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Tron in seconds. We thank you in advance for your patronage!

Donate Cosmos to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Cosmos in seconds. We thank you in advance for your patronage!

Donate Tezos to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Tezos in seconds. We thank you in advance for your patronage!

Donate Dash to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Dash in seconds. We thank you in advance for your patronage!

Donate Maker to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Maker in seconds. We thank you in advance for your patronage!

Donate Dai to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Dai in seconds. We thank you in advance for your patronage!

Donate Vechain to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Vechain in seconds. We thank you in advance for your patronage!

Donate Zcash to this address to help us keep providing great content
It is just as easy as scanning the QR code or copying the address below into your wallet to send some Zcash in seconds. We thank you in advance for your patronage!
Donate Via Wallets
Select a wallet to accept donation in ETH BNB BUSD etc..