Business opportunities is described as an unsatisfied demand for a product or services that can be profitably served.
To depict such a business opportunity, an individual should considered the following basic indicators.
The request for a product or service may be adversities in the newspapers. For people to become distributors of a firm’s products. It could also crave the indulgence for tenders to supply some items, say, food items to an institution or it could also call for tenders for the construction of roads. It will be wise to explore such business opportunities.
The second indicator could be the origin of total void or vacuum in the provision of a specific products or services requested by the society.
This is a situation in which there is no one already in a particular track of business and people have to move out of town or state to get served. Peradventure, if there is no computer engineer in a city, therefore, people have to go to other cities to get their computer serviced. This becomes a good opportunity for an enterprising computer engineer to set up a workshop in the city and exploit the situation to serve owners of computers.
A third indicator is a situation in which there is already someone in that particular type of business but he is not doing a good enough work. With my understanding of who a computer engineer is, if there is already a computer engineer to set up his workshop in the town.
A fourth indicator is a situation in which there are individuals that have already gone into that particular type of business but business favoring them and their revenues are on the high side. That becomes an avenue for an additional engineer to join in and benefit from the favorable situation.
There are not as easily spotted out as the ones explained above.