A business opportunity is an opportunity or moment to be captured or exploited by an entrepreneur. There are many business opportunities all around us, some of which we are unaware of or afraid to take advantage of.
Generally speaking, a business opportunity is a business idea, prospect, plan, or other opportunity for a business that is being developed or launched. Opportunity is therefore the process of identifying opportunities to start a new business.
Well, this business opportunity is the most important thing before starting a business. Certainly, we already have to think about some future steps when it comes to the business opportunities we are targeting.
Understanding Business Opportunities in Reaching Profits and How to Make Money
To learn more about business opportunities, see What are Business Opportunities, What are Business Opportunities, How to Win Business Opportunities, and Types of Business Opportunities. Types of Business Opportunities compiled by Liputan6.com from various sources (Monday 8th February 2021).
* Understanding Business Opportunities According to Experts *
A business opportunity is one of the opportunities (profit, money, wealth) that people have to obtain by doing business using the various resources available to them. However, this is different from what experts say about understanding business opportunities, such as:
Arif F. Hadiparanata
Opportunities are risks that must be taken and dealt with in order to manage and organize all financial matters.
Thomas W. Zimmer
Business Opportunities is an application of creativity and innovation that finds and solves the opportunities we face every day.
robin and coulter
Opportunity is a process involving individuals or groups who use specific activities and structures to create greater value and meet needs, regardless of the resources used.
* Characteristics of Business Opportunities *
Recruitment features include:
- a. Opportunities are original, not imitations.
- b. Opportunity must be able to anticipate future changes, competition and market demand.
- c. Fully driven by the desire that the opportunity can last long.
- d. The level of visibility (business feasibility) is currently being tested for research and experimentation.
- e. Original and innovative ideas do not imitate others.
- f. I have faith that this will be achieved.
- g. I enjoy doing it.
* How to Get Business Opportunities *
Here’s how to identify business opportunities to successfully build or grow your business.
1. Information extraction
Gathering information is the key to getting a job. You can search information to find trends that are growing and being loved in your community. Searching for information by reading and manipulating information can help you find promising jobs in the community.
2. Leverage personal experience
Leveraging personal experience can be a business opportunity with a strong background. It’s better to solve a problem with a business idea or business opportunity than waiting for someone else to solve your personal problem. For example, some people have skin conditions where over-the-counter cosmetics irritate their skin. Rather than constantly searching for the right makeup product, it’s better to see it as a business opportunity. This person can create and sell their own make-up products for any skin condition. This is especially true for people with the same skin condition.
3. Look at your competitors
When looking for employment opportunities in an industry, it’s important to look at your competitors in that industry. Competitor analysis helps companies identify business opportunities, expand their market reach, and develop products.
* Causes of Failing to Capture in Business Opportunities *
There are two ways to seize business opportunities: success and failure. Reasons for not taking advantage of employment opportunities include:
1. Analysis of opportunities across assets
It may sound tedious, but analyzing job opportunities is important. Business Opportunity Analysis can describe a company’s strengths, opportunities or opportunities, weaknesses, threats or risks. Without these four factors, your business will either fail or be short-lived.
2. Bad management
Business must be accompanied by good management. Finances, employment, production methods, sales systems, goods and working hours must be managed efficiently and accurately. Poor management can lead to many problems that affect your business. For example, the occurrence of corruption, excessive production cost debt, product balance due to lack of buyers, delay in production of own products, etc.
3. Giving up
An analysis of general trends in society is done by looking at employment opportunities. It’s not uncommon for people to start businesses simply because they follow trends. As a result, if the trend the company is chasing disappears, the spirit of the business dies and the business goes bankrupt. Hard work, therefore, includes enthusiasm, consistency, integrity, a sense of purpose, and an attitude of non-negligence.
* Types of Potential Business Opportunities *
There are many types of potential business opportunities and you should be aware of the following:
1. Online business
The first potential business opportunity is online business. This business is widespread in Indonesia, offering greater benefits and convenience to businessmen and customers, especially during this pandemic situation. Just use online applications to do everything you need in your daily life, like shopping and transactions.
Catering and online business are potential business opportunities. The reason is that many people have big events or activities that they don’t want to worry about.Catering can shorten and facilitate preparation for these events and activities.
3. Wedding planner
Every spouse wants a beautiful and unforgettable moment on their wedding day. From a business perspective, wedding planners are clearly a great business opportunity. If you think this business is getting bigger and bigger and you can’t take it anymore, you are wrong. This is because the industrial value of the marriage business could reach hundreds of trillions of dollars this year.
4. Online course
Experience in a particular field can be a very rewarding business opportunity for you and others. With these skills, you can start your online course business. In fact, these techniques can be performed regularly, but with proper seating and equipment. Of course, this costs a lot of capital.
Therefore, you can open an online course and reduce your capital investment. Your business doesn’t need a special location or strategic location. You can start in your bedroom or living room.