Evaluating Marketing Opportunities

Seemingly every entrepreneurial that has an interesting idea, believes that they can turn it into a durable and get rich opportunity that will last as  long as they want it to.  Most entrepreneurs fail to research and evaluate the entire aspect of their possible business venture.  Most people do not even realize that there is a difference between ideas and opportunities.  As stated by Stuart Leung, Ideas are more nebulous and unrefined, and exist to provide a business with a possible general direction in which to move.  Opportunities are absolutely necessary, as they are often the catalyst that gets everything started.  I often hear people say that they are just waiting on their opportunity, or just need a opportunity to show what they are capable of doing.  Ideas provide the drive and vision, but can not be the replacemant of opportunities.  Ideas are thoughts in your head until you put the on paper, opportunity is when you are able  to put your ideas into action.  

Customer felt needs are also a very important part of the evaluating process.  Understanding what it is that your potential customers want and need is also important.  Providing exactly what customers want, or coming close as possible will help your business venture to be successful.  Because as stated earlier in the text book, making money should be secondary to pleasing your customers and making a name and building your brand.  If money making is the sole purpose your venture may not last long.