In this topic, we will investigate how identifying opportunities can be approached from different angles. Someone who is considering opening a new business has usually perceived such an opportunity in one way or another. Even yourself, when you started this course and had to come up with one businss idea that you want to pursue further throughout this course, must have intuitively looked at the current food market and deceided that at a certain point along the food value chain could be an empty spot that you could occupy with your business idea.

In the last chapters of this topic, you will find different types of analysis that can be used to further investigate the viablity of your business idea.

The objective of this lesson is to help you understand the different angles from which an entrepreneur can and should investigate a certain market situation to identify opportunities and to ensure her or his business idea can actually be turned into a viable business.

Collecting all the information about the market, its customers, the industry trends as well as your own strengths and weaknesses is an important step towards writing your business plan.

Last modified: Friday, 31 May 2024, 10:48 AM