What Criteria Should Be Used to Evaluate Opportunities?
Once opportunities are identified, the next step is to evaluate them. Key criteria include:
Market Size: Is there a large enough market for the product or service? Competition: What is the level of competition in the market? Profitability: Can the business be profitable? What are the profit margins? Scalability: Can the business be scaled up? Feasibility: Is it feasible to execute the business idea considering the available resources?