ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Business viability means that a business is (or has the potential to be) successful. A viable business is profitable, which means it has more revenue coming in than it’s spending on the costs of running the business.
Detailed explanation-2: -Find a market for your idea. The objective is to up your chances of reaching buyers. Market research is an important step to have a solid marketing plan and promote to people who will convert into customers. Consider demographic information such as age group, residence, income, a line of work and hobbies.
Detailed explanation-3: -A viable business opportunity is an opportunity that has the potential to be profitable and generate a positive return on investment. When pitching your startup to potential investors, it is important to highlight the viability of your business opportunity.