CHARACTERISTICS OF A GOOD BUSINESS OPPORTUNITY

Entrepreneurship-and-Communication-Skills-notes

A good business opportunity must fulfill or be capable of meeting the following:

  • Real demand i.e. it should respond to unsatisfied needs or requirements of customers who have ability to purchase and are willing to exercise that choice.
  • Return on investment – provide durable, timely and acceptable returns or rewards for the risk and effort required.
  • Competitive – Equal to or better – from the viewpoint of the customer – than other available products or services.
  • Meet objectives – meet the goals and aspirations of the person taking the risk
  • Available resources and competencies – be within the reach of the entrepreneur in terms of resource, competency, legal requirements etc.



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