Exploring a Business Opportunity

"I can make a good living in my current job, but I sit at a desk all day long and I hate it. I am looking for something I'll enjoy doing and gives me financial freedom."

"I have an idea for a new product. What is the next step?"

"I can offer the same service for a better price and make a decent living. Where do I start?"

"My friends say I am a good at ____________. Right now it's a hobby but I wonder if I should pursue this further?"

Every day, opportunities present themselves to those who know what to look for. Changes in the economy, the 2010 Olympics, a partnership or franchise investment opportunity, or even the sudden loss of work, can all be considered opportunities. How do you differentiate a good opportunity from a bad experience? How do you research your idea without wasting valuable time and money?

Test Your Business Acumen

If I have a great business plan, a bank or investor will give me money.	Fact	Myth
I should not do this business because someone else is doing it.	Fact	Myth
The first step for any business is to research and register the name.	Fact	Myth
If I build my business customers will find me.	Fact	Myth
For any business, start-up capital is the key.	Fact	Myth
Market research is about learning about my industry and market.	Fact	Myth
Entrepreneurs are risk-takers and gamblers.	Fact	Myth
One key priority is keeping my business idea a secret.	Fact	Myth
If my prices are lower than the competition, I will be successful.	Fact	Myth
Customer service a unique selling proposition.	Fact	Myth

PS: All the statements in the Test Your Business Acumen are myths!