Welcome! About Us About Our Job Boards Info For Employers Diversity Job Candidates Improve Your Bottom Line Advantages of Niche Job Boards Benefits of Using Our MultiChannel Approach for Your Job Exposure OFCCP / Compliance Solutions Sponsorship Contact Job Search AW Career Center – Diversity Jobs All Top Tech Talent – Tech Jobs Careers Self Describing Skills – Key Strengths Effective Communications Key To Accomplishing Goals The Six C’s Of Effective Communication Exude Power & Purpose – Broadcast Your Value Career _Index Referrals Make A Difference In Getting The RIght Job Getting Fit To Lead – Habits Of Successful Leaders Career Strategies Which Career Is Right For Me? Pick A Career That Counts America’s Skills Gap Top Secrets To Make Recruiters Find You Meet The Robots Reading Your Resume Time Management Mastering The Art Of the Career Fair Career Fairs – On-site Career News Blog How To Become A Computer Programmer Closing The Gender Gap For Women In Science Time Management Entrepreneurship Entrepreneur – Start Your Own Web Business Why Start Your Own Business? Rorschach Test For Entrepreneurs – If You See Opportunity, Start A Company The History of Opportunity Money Info Establish Your Niche – Learn How To Differentiate Brand “You” Outrageously Simple Visual Guide To Goal Setting Workplace AWL Journal – Women in Leadership Studies Sponsorship Contact

Evaluating an Opportunity

Business opportunities are often based on broad trends, such as:

? demographic, such as the "graying" of America (creating opportunities in health services, for example);

? sociological developments, like the "green" movement, with its emphasis on recycling and environmental sensitivity, and;

? cultural changes caused by changing economic conditions and technological developments.

Opportunities can also frequently be found in current and developing business trends such as:

? the globalization of business,

? the need for outsourcing created by downsizing, and

? the burgeoning service economy.

The Internet and rapid growth of e-commerce have certainly created changes in the process of buying books and CD's, trading stock, delivering information, and bidding on collectibles. Where do you see the next process to be transformed in a major way by the Internet?

Let's do a brief case study in opportunity:

Neighborhood Coffee Shop

I live in the eastern section of town, which is growing rapidly, and food and business services are not quite keeping up. The "East" is fairly isolated from the rest of the city by water, an interstate highway, and an industrial park, forming a separate and distinct market. "People" are saying that the East desperately needs a good coffee shop. (Who are these people? Are they just in our immediate circle? Are they representative enough of the area to extrapolate from?)

Let us analyze some factors which indicate the opportunity potential of an idea:

* The "window of opportunity" is opening, and will remain open long enough.

We cannot be the only entrepreneurs that perceive these opportunities. How long before the need becomes compelling enough for others to jump in?

* Entry is feasible, and achievable with the committed principals.

Two friends want to be partners with me in a venture; one is managing a coffee shop across town, and willing to manage a startup. Between us, we could muster the capital for a coffee shop.

* The proposed venture has some competitive advantage.

We were among the first to locate in the new area, and are very active in the local business community. We know of an ideal site, and the building manager is a friend. She is willing to sub-contract the beverage and light-meal/dessert services the building provides tenants.

* The economics of the venture are "rewarding and forgiving."

Materials costs are a small percentage of revenues; site preparation and equipment costs are minimal.

* We can break even at what seems to be an easily achievable volume.

We may even want to consider a more upscale atmosphere based on what some say is the difference between a "coffeehouse" and a "coffee shop:" About two bucks a cup? A coffee shop is a place to grab a quick bite and a cheap cup of coffee.

Eric Gerber of the MSN Network's Sidewalk suggests that "A coffeehouse is a place to wax philosophical - Mozart or Bach, Faulkner or Fitzgerald, Xena or Hercules? - while seeing just how complicated you can make a simple drink like coffee: double latte espresso-chino with half decaf Jamaican Blue Mountain dark roast, extra low-fat foam and a Frangelica drizzle, please."

The conditions for starting a neighborhood coffee shop seem favorable, but there must be more that we can do to critically evaluate the venture while improving our chances of success. That "more" is market research, and do not leave the business launch pad without it!

John B. Vinturella, Ph.D. has almost 40 years experience as a management and strategic consultant, entrepreneur, author, and college professor. For 20 of those years, Dr. Vinturella was owner/president of a distribution company that he founded. He is a principal in business opportunity sites jbv.com and muddledconcept.com, and maintains business and political blogs.

RELATED ARTICLES PTO; Justification of the Means and the Ends Some would say about certain issues that the means do not justify the ends. Well more often the ends do not justify the means. For instance if you are trying to accomplish something and know that if you do use the most approved PC methods then you cannot get to the desired results, but use those methods anyway as to not appear to offend anyone, then in the end you offend everyone by wasting their time and by failure of the project. The Fear Factor I recently conducted a lil' survey asking my colleagues what were their biggest fears when thinking about starting a business or running their business. The following are the top three fears that resulted from my survey and some ways to combat them. Beware the Opposition! Any time you make changes in your life you are going to be met with opposition from people who would prefer you to stay exactly as you are. Sadly, these people are often the ones that love you the most; your family, friends, partners and even work colleagues. However, in your moments of entrepreneurial seizure, the greatest opposition that you will experience (particularly if you're a seasoned employee) will come from within yourself. Making the Financial Transition Making the financial transition from paid employment to earning a living on your own is probably the single biggest challenge facing many would be entrepreneurs. For most, the mere thought of financial insecurity holds them back from even trying. But if you have the vision, persistence and the ability to respond to market feedback the financial rewards will soon follow. Envisioneering It never ceases to amaze me. Almost everyone peers into the future through a rear-view mirror. The future is imagined as a continuation of the past. I suppose there is a certain security in that; much like a padded cell. Hardly anyone practices creative envisioneering. History of Enterprise Car Rentals So few really understand the drives and motivations of entrepreneurs. Many write about them, some lecture and teach about what they are, how they operate and what they have achieved; yet so few really understand them. So many fail to realize the dedication and sacrifice it takes to win at that level and the super stars are so rare that one just has to look in awe. One of the greatest stories of Entrepreneurial success is that of Jack Taylor who founded Enterprise Rent-A-Car. I therefore recommend this book about the History of Enterprise Rent-A-Car Book is; Vendor Relations Communication is the key to vendor relations. In your small business, you will be in need of many products and services. Unfortunately, not every company that provides these products and services will have their act together as much as you do. You, as a small businessperson, were able to carefully study each purchase because it was your money. You knew exactly when, where, how and at what price you were willing to partake in those purchases. Not all vendors you deal with will have such savvy folks working for them. Entrepreneurs, Are You Hauling Buckets? Once upon a time, there was a village on the banks of a fine, clear river. The villagers all drew their water from the river, and used it to cook, and bathe and water their gardens. Life was good. Entrepreneurship: What does it REALLY mean? Introduction: Increasing Business BIGTIME with a Successful Referral System What I've discovered from most of my small business clients is that most would prefer to build their business through referrals rather than through direct mail, advertising in newspapers, radio, TV. However, most leave the referrals to a somewhat chaotic, unplanned approach. When they have a repeatable system of going after referrals their business growth suddenly explodes. What Online Millionaires Tell Me They Are Worried About I just arrived back from the best seminar I have ever attended in the last 10-years. Work On, Not In Your Business Are you busy? Everyone's busy! Ask anyone they'll tell you how busy they are. But how many people are accomplishing real results? Goals and New Venture Creation More and more corporate workers are leaving their jobs to start new ventures. When taking this leap, it is important that the goals of these entrepreneurs are solid, as these goals may ultimately determine the success of the new venture. What is Entrepreneurship? In discussing entrepreneurship and writing articles on the subject, I have found that it aids understanding when we begin by agreeing on exactly what the word means to us. How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too! I have worked in the credit industry for over 17 years now. When I first started out, I only knew a very few women in the industry. That number has grown over the years, but not by much. Being a bill collector has always been categorized as a "man's industry". Taking Charge and Getting Results: The Choice is Yours As one of the most successful direct sales entrepreneurs in the industry, I have found there are two kinds of people in the world, those who would like success and those who are serious about success. There really is no in between. Think about it. Everyone wants success in their life; they want to make more money, have more time, have less stress and really make their mark in the world. The people who actually do it are the people who will not accept any alternatives. The New Paradigm for Entrepreneurial Success Entrepreneurship is a great magnet to deliver new ideas, unique approaches and innovative technologies. When conducted in a proper way, turning people into entrepreneurs improves a country's economic situation and aids sustainable progress. However, transition to become an entrepreneur is not that aspiring to all. Risks and uncertainties involved in starting a new business coupled with stagnant economy discourage people to step up the plate and take a swing. Starting Up and Keeping Going So you had that fantastic business idea, the one that's going to be wildly successful and make you a fortune - and even better, you actually did something about it and started your own business. Good for you! Not everyone gets even that far. Most people sit and day dream about what they might do if only .... Questions For The Entrepreneur To Be Entrepreneurial e-gnorance Entrepreneurs - Your Well Being Should Come Before Profits I believe the spiritual aspect of life, especially to entrepreneurs, is very important. While business may be the focal point for an entrepreneur's life, it's your outlook on life that shapes what kind of person you are.

Home |Site Map

Copyright © Advancing Women (TM), 1996- AdvancingWomen.com