Process of business opportunity identification slideshare
Answers
Business opportunity identification refers to the process of finding a good or favorable change available to run a specific business in a given environment at a given point of time.Opportunity identification and selection are like comer stones of business enterprise
The process for identification includes:
1. Listen to the potential clients as well as the past leads. Keep a close eye on your potential customers needs, wants, preferences, challenges and frustrations of your industry. This will help you to find opportunities to develop more tailored products and services, hone your target market and identify and overcome common objections.
2. Listen to your customers as this valuable customer information will help in identification of key business opportunities to expand and develop the current products and services
3. Look at your competitors while doing a little competitive analysis to analyze your competitors as this will help in identifying key business opportunities to expand your market reach and develop your products and services.
4. Look at industry trends and insights