The definition of a business opportunity that you must know

The definition of a business opportunity that you must know
4 min read
23 October 2022

The definition of business opportunities often refers to the process of identifying, developing, and planning businesses that can create a better process in carrying out economic activities so as to create new businesses that are formed in conditions full of uncertainty and risk. For example, opportunities as a dropshipper, article writer, professional blogger, and so on.

Characteristics of Business Opportunities

A business opportunity is an opportunity that an entrepreneur has to achieve his business goal, namely returns, by doing a business that utilizes various resources he has.

Broadly speaking, a good business opportunity has the following characteristics:

  • business that is run is able to bring results, aka profitable.
  • The capital required to start the business is not too large.
  • Not a seasonal type of business.
  • The resulting product has a selling value.
  • It can last a long time and is sustainable.
  • Business scale can be enlarged.
  • Not only the ambition of entrepreneurs, but its real nature.
  • Source of Business Opportunity

1. Yourself passion

Many people see business opportunities after liking something as a hobby. For example, singing, even though at first it was only a hobby, but because he judged that there were many people who liked his music and songs, he eventually became a singer. Or someone with a passion for writing. At first it was possible to just write down his personal experiences in a diary. But after some time, business opportunities to become a writer are wide open, starting from writing books, novels, or becoming a blogger.

2. Skills One Has

Skills can be turned into business opportunities. For example, a person who has expertise in foreign languages ​​can become a translator for a large company that is planning to expand to a destination country. as an expert in the field of the internet such as making a website. So, creating a website can be a profitable business opportunity.

3. Educational Background

Educational background also affects one's business opportunities. In this case, someone with a cooking education background can create various variants of new dishes that can become new business opportunities. Or for example, for someone with a music education background, through this education they are able to create new musical instruments that are in accordance with the interests of the community and eventually make them a popular songwriter.

Benefits of Business Opportunities :

  1. Opportunity to have a lot of savings.
  2. Have more time to enjoy the success of the business being run.
  3. Have a longer time to represent the innovation.
  4. Be independent from an early age.
  5. Business Opportunity Strategy

Determine the point where you may start to find the source of the opportunity. Try to learn what interests and talents you have. Then adjust it with the educational background taken.

After that, find the right business sector for you to enter based on the criteria above. Empower the advantages of your product so that it has a worthy selling value to compete with competitors' products.
Evaluate your opportunities into a promising venture.

That's a glimpse of information about the meaning of a business opportunity complete with its characteristics, benefits, and strategies. To develop a business, of course, requires a lot of capital. If you need additional capital to develop a business such as promotions and others, you can apply for a loan from an Investree that is licensed and supervised by the Financial Services Authority.

Investree is a bridge that brings together you as a borrower (Borrower) and a lender (Lender). In addition to the easy and fast process, you can get competitive interest rates and fees based on a modern credit-scoring system starting from 1% per month. Register Investree now and grow your business.

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