Evaluating an Opportunity

Business opportunities are often based on broad trends, such as:

? demographic, such as the "graying" of America (creating opportunities in health services, for example);

? sociological developments, like the "green" movement, with its emphasis on recycling and environmental sensitivity, and;

? cultural changes caused by changing economic conditions and technological developments.

Opportunities can also frequently be found in current and developing business trends such as:

? the globalization of business,

? the need for outsourcing created by downsizing, and

? the burgeoning service economy.

The Internet and rapid growth of e-commerce have certainly created changes in the process of buying books and CD's, trading stock, delivering information, and bidding on collectibles. Where do you see the next process to be transformed in a major way by the Internet?

Let's do a brief case study in opportunity:

Neighborhood Coffee Shop

I live in the eastern section of town, which is growing rapidly, and food and business services are not quite keeping up. The "East" is fairly isolated from the rest of the city by water, an interstate highway, and an industrial park, forming a separate and distinct market. "People" are saying that the East desperately needs a good coffee shop. (Who are these people? Are they just in our immediate circle? Are they representative enough of the area to extrapolate from?)

Let us analyze some factors which indicate the opportunity potential of an idea:

* The "window of opportunity" is opening, and will remain open long enough.

We cannot be the only entrepreneurs that perceive these opportunities. How long before the need becomes compelling enough for others to jump in?

* Entry is feasible, and achievable with the committed principals.

Two friends want to be partners with me in a venture; one is managing a coffee shop across town, and willing to manage a startup. Between us, we could muster the capital for a coffee shop.

* The proposed venture has some competitive advantage.

We were among the first to locate in the new area, and are very active in the local business community. We know of an ideal site, and the building manager is a friend. She is willing to sub-contract the beverage and light-meal/dessert services the building provides tenants.

* The economics of the venture are "rewarding and forgiving."

Materials costs are a small percentage of revenues; site preparation and equipment costs are minimal.

* We can break even at what seems to be an easily achievable volume.

We may even want to consider a more upscale atmosphere based on what some say is the difference between a "coffeehouse" and a "coffee shop:" About two bucks a cup? A coffee shop is a place to grab a quick bite and a cheap cup of coffee.

Eric Gerber of the MSN Network's Sidewalk suggests that "A coffeehouse is a place to wax philosophical - Mozart or Bach, Faulkner or Fitzgerald, Xena or Hercules? - while seeing just how complicated you can make a simple drink like coffee: double latte espresso-chino with half decaf Jamaican Blue Mountain dark roast, extra low-fat foam and a Frangelica drizzle, please."

The conditions for starting a neighborhood coffee shop seem favorable, but there must be more that we can do to critically evaluate the venture while improving our chances of success. That "more" is market research, and do not leave the business launch pad without it!

John B. Vinturella, Ph.D. has almost 40 years experience as a management and strategic consultant, entrepreneur, author, and college professor. For 20 of those years, Dr. Vinturella was owner/president of a distribution company that he founded. He is a principal in business opportunity sites jbv.com and muddledconcept.com, and maintains business and political blogs.

---

Google News Updated : Wed, 09 Jul 2008 07:08:13 GMT Bush Won't Back Setting Timeline for Troops in Iraq, Aide Says - Bloomberg Times Online Bush Won't Back Setting Timeline for Troops in Iraq, Aide Says Bloomberg - 44 minutes ago By Catherine Dodge and Roger Runningen July 9 (Bloomberg) -- The Bush administration rejects setting any ``arbitrary'' deadline to withdraw forces from Iraq, the president's spokeswoman said after an Iraqi official said his government wants a timeline ... Video: Iraqi PM Calls for Withdrawal Date AssociatedPress Maliki's Withdrawal Card Wall Street Journal New York Times - Reuters UK - AFP - ABC Online all 1,754 news articles Publ.Date : Wed, 09 Jul 2008 06:24:10 GMT Google Introduces a Cartoonlike Method for Talking in Chat Rooms - New York Times Los Angeles Times Google Introduces a Cartoonlike Method for Talking in Chat Rooms New York Times - 4 hours ago By BRAD STONE Google, known for its plain-Jane approach to Web design, has come up with something much wackier. On Tuesday the company introduced Lively, an online tool that allows people to embody a cartoonish online avatar and have text-based ... How Lively? Google’s Me-Too Virtual World GigaOm Virtual Worlds Are So Hot Right Now: $345 Million Invested So Far ... TechCrunch Wall Street Journal - CNET News - Los Angeles Times - PC Magazine all 166 news articles Publ.Date : Wed, 09 Jul 2008 02:21:46 GMT Study Finds Flawed Practices at Ratings Firms - New York Times ABC News Study Finds Flawed Practices at Ratings Firms New York Times - 4 hours ago By MICHAEL M. GRYNBAUM The analyst at the credit ratings agency was blunt: “Let’s hope we are all wealthy and retired by the time this house of cards falters. SEC criticizes credit-rating firms Los Angeles Times SEC finds conflicts at rating agencies Financial Times CFO.com Magazine - Reuters - Bloomberg - Wall Street Journal all 301 news articles Publ.Date : Wed, 09 Jul 2008 02:20:01 GMT Afghan Bombing Sends Stark Message to India: With Power Comes Risks - New York Times Afghan Bombing Sends Stark Message to India: With Power Comes Risks New York Times - 3 hours ago By SOMINI SENGUPTA NEW DELHI - The suicide bombing on Monday outside the Indian Embassy in Kabul was the latest and most audacious attack in recent months on Indian interests in Afghanistan, where New Delhi, since helping to topple the Taliban in 2001, ... Video: Mourning for Kabul blast victims - 08 Jul 08 AlJazeeraEnglish Pakistani PM calls for joint efforts to fight terrorism Reuters India BBC News - Bloomberg - The Associated Press - CNN all 3,127 news articles Publ.Date : Wed, 09 Jul 2008 03:32:49 GMT Alumina Shares Gain as Profit at Partner Alcoa Tops Estimates - Bloomberg Reuters Alumina Shares Gain as Profit at Partner Alcoa Tops Estimates Bloomberg - 3 hours ago By Rebecca Keenan July 9 (Bloomberg) -- Alumina Ltd., owner of 40 percent of the world's biggest producer of the material used to make aluminum, rose the most in more than five months in Sydney trading after partner Alcoa Inc. reported profit that ... Alcoa Profit Tops Estimates After Price Rise New York Times Alcoa beats the Street CNNMoney.com The Associated Press - Reuters - BloggingStocks - Nightly Business Report all 284 news articles Publ.Date : Wed, 09 Jul 2008 03:09:46 GMT Ex-Secretaries Suggest New War Powers Policy - Washington Post Aljazeera.net Ex-Secretaries Suggest New War Powers Policy Washington Post - 3 hours ago The next time the president goes to war, Congress should be consulted and vote on whether it agrees, according to a bipartisan US study group chaired by former secretaries of state James Baker III and Warren Christopher. Video: Panel Calls for New War Powers Legislation AssociatedPress War Powers Act needs fixing, bipartisan panel says CNN Reuters - Seattle Post Intelligencer - AOL News Newsbloggers all 639 news articles Publ.Date : Wed, 09 Jul 2008 03:48:10 GMT Coalition launches push for health care reform - Milwaukee Journal Sentinel Tampa Tribune Coalition launches push for health care reform Milwaukee Journal Sentinel - 2 hours ago By GUY BOULTON An array of unions and liberal activist groups in Wisconsin have joined a national coalition that plans to spend $40 million to push for health care reform, particularly universal coverage, in the coming election. Coalition to lobby for US health-care reform Reuters $40 Mill Health Care Reform Campaign Launches ABC News Washington Post - Workday Minnesota - Kansas City Star - Bizjournals.com all 266 news articles Publ.Date : Wed, 09 Jul 2008 04:17:57 GMT RSS Parser Increase Web Traffic

PARLOT::Ebooks, Scripts, Websites, and more...

Adsense websites

Franchisor Sample Grand Opening Launch for New Franchised Outlets

It is paramount that all franchising companies work hard in... Read More

Youve Found Your Guru, Now What?

In my last article, "Follow That Guru", I told you... Read More

Identify the Growth Factors

In "The Incredible Hulk", mild-mannered scientist Bruce Banner discovered that... Read More

Raising Capital for Your Business ? How Long Does it Take?

Most companies vastly underestimate the time commitment necessary to successfully... Read More

The Role of Statistics in Prospect Modeling

Identifying prospects has come a long way since the days... Read More

Entrepreneurship Story; Over Regulation in Franchising Final Chapter

Sally and Jim have launched their automotive franchise business and... Read More

Business Planning Overview

The successful entrepreneur is generally more inclined, once a business... Read More

Increase Profits with No Pain, No Change Approach

Implementing changes, even when they're good for your business, can... Read More

Compensating for Your Entrepreneurial Style-or Lack of Style

I recently took an entrepreneurial quiz which evaluated my answers... Read More

Before Getting A Franchise

Buying into a franchise is a great way to be... Read More

Which Niche To Conquer?

I'm sure that you've heard about how many start up... Read More

Drive Website Traffic Unconventionally, Force Your Children To Do It

If you believe that every little bit helps then keep... Read More

Isnt it Time You Started to Fly?

I am going to begin this article by sharing a... Read More

How Home-Based Business Entrepreneurs Think

Too many people are trying to start their home businesses... Read More

The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money

This year more than 17 million people will become entrepreneurs,... Read More

Are You An Entrepreneur?

With all the buzz about everybody being an entrepreneur these... Read More

The Business Leader as Ultramarathoner

Have you ever heard of an ultramarathon? A standard marathon... Read More

The Power Of Personal Environments

I've got to admit, I'm a big fan of comfort.... Read More

Ancient Warrior Secrets For The Modern Entrepreneur

The words you see onscreen trigger subconscious responses. Dark images... Read More

How You Can Earn $1000 A Week Part Time

About 6 years ago I started to notice that certain... Read More

The Entrepreneurs Prayer

As I awaken with the gift of yet another day... Read More

Mobile Car Washing Long Term Opportunities in the Market

The long-term outlook for the Mobile Car Washing industry is... Read More

When Your Business Feels Like an Arranged Marriage

Q. I was laid off six months ago. Jobs in... Read More

Used-Book Case Study

Dwight Payne and Gary Heap reside in Santa Barbara, CA,... Read More

The Heroic Entrepreneur: Profiting from Your Brilliance

If you look up the definition of hero in Webster's,... Read More