🚀 Opportunities: Overview

🌟 Creating and Identifying Opportunities

💡 All Ideas Are Not Opportunities. An opportunity is more than just an idea — it must have the following key qualities:

• 🎯 Attractiveness – Appeals to customers and solves a real need

• ♻️ Durability – Sustainable over time and not just a short-term trend

• ⏰ Timeliness – The market is ready; the idea fits current conditions

📘 Commonly Used Terms

👀 1. Opportunity Recognition

The process of identifying and evaluating potential business opportunities.
Entrepreneurs assess:

• 🔍 Trends

• 🧍 Customer needs

• ⚖️ Market inefficiencies

➡️ Aim: To discover areas where new value can be created.

🕳️ 2. Opportunity Gap

A difference between:

• 📉 What the market currently offers, and

• 📈 What consumers want or need

➡️ Represents a potential area for business development, innovation, or new product introduction.

🚪 3. Window of Opportunity

A limited time period during which:

• 🛍️ Consumer demand

• 🧪 Technology

• ⚖️ Regulations

…are aligned, allowing a firm to successfully:

• 💼 Enter the market

• 📊 Exploit a new opportunity

➡️ Missing the window may mean losing first-mover advantage or market share.