What Are the Key Components of a Viable Opportunity?
A viable entrepreneurial opportunity typically includes the following components:
Market Demand: There must be a sufficient number of customers who need and are willing to pay for the product or service. Unique Value Proposition: The offering should provide unique benefits that differentiate it from existing solutions. Scalability: The business model should allow for growth and expansion over time. Feasibility: The opportunity should be achievable with the available resources, skills, and technologies. Profitability: The venture should have the potential to generate sustainable profits.