The Small Business Forum
Business Ideas vs. Business Opportunities
- While all businesses start as business ideas, not all business ideas are business opportunities. A business idea is an opportunity if it shows:
- – a market need or gap, with a clearly identified set of customers.
- – a well-defined product.
- – a clear business model.
- – market access and strong distribution channels.
- – market readiness for the product, and with potential for growth.
- Market readiness is that the identified need or demand is adequate and sustainable.
- Business ideas do not come out fully formed. They become clearer as one works on them, and even once started businesses may evolve into different ones.
Comments, Questions and Suggestions welcome.
drkibuka@thesmallbusinessforum.co.ke
+254-729524219
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