The ideas for new business are easy to identify, but difficult to evaluate. The empresarismo is the identification and development of opportunities that still have not been exploited.  

A good opportunity has the potential of creating extra cost for the client. Another way of seeing it is describing the problem or “dolor ” of the client, who represents how many need this client takes as a solution to his “dolor ”, need, or problem. , need or “dolor ”, major value has to major problem the opportunity to provide a solution to this client. Obviously, to major number of clients who share the same problem, major value has the solution.

The first roll of the entrepreneur is to identify and to select the appropriate opportunity. The entrepreneur is usually a dreamy, visionary person, who interferes in a creative process of identifying opportunities and of evaluating them. There is selected the opportunity that has the biggest success probability on the market.  The key question is: how to evaluate and to select the correct opportunity? The goal must be to look for an opportunity in an industry that the entrepreneur knows and that has a potential of long-term growth.   

Tom Stemberg, founder of Staples, conceived the idea of a supermarket of office effects in the middle of the eighties. He was not liking the politics of the big companies and wanted independence. His business began with a shop in Brighton, Massachusetts. It did a finished analysis of the market and determined that the same one was of $ 100 trillions with a growth per year of 15 %, with big profit margins.  

 The opportunities analysis includes the alternatives evaluation. This means that other opportunities will be discarded in the process.

 He considers the following situation:

A 28-year-old woman receives a bond of $ 20,000. What must do with the money? Must he invest it in a mutual fund, use it as soon for the buy of a property, use it to initiate graduated studies, to leave his employment and to begin a proper business? It might analyze based on the profit expected from the mutual fund of 10 %; the profit of studies graduated in 12 %; the growth of a proper business in 11 %; the profit of a property in 9 %. If there was taking as a principal consideration the personal satisfaction of a university grade, this would be the alternative selected by some. Others might give him more weight to the independence that means having a proper business and would choose for this alternative.

 Therefore, a magic formula does not exist to select an opportunity. Everything depends on many factors. For many entrepreneurs, the principal consideration is to compare the opportunity with the current employment and his potential of growth in the same one.  

 One of the biggest risks for a person who considers to initiate its own company is the general tendency of being too trusting and hoping that the things should happen so well or better than the awaited thing. It is important to analyze the market, implementation and differentiation of the product.  Most of the entrepreneurs continues a basic process of five steps:

1. Capacities – are The capacities, knowledge and experience of the entrepreneur consistent with the opportunity?

2. Does innovation – Have the product or service qualities that make it significantly novel and different? Does it create a significant extra cost for the client? Sufficient as so that a client wants it and pays for the product?

3. Resources – Can the entrepreneur attract the consistent financial, physical and human aid with the magnitude of the project?

4. Can comeback of the investment – the product be made to a such cost that could produce a profit to itself? Is it the consistent comeback with the involved risk?

5. Is commitment – the entrepreneur sufficiently compromised with the project? Does he feel passion for the same one?

Author: Luis Salichs
WEB: http://www.soyempresario.com

Source of the article http://www.articulo.org/

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