VAE 511: Livestock Entrepreneurship (1+0)

IDENTIFYING A BUSINESS OPPORTUNITY

• An entrepreneur is an opportunity seeker. For the potential entrepreneur his first-task is to explore, identify, and then select an attractive business opportunity. A good business opportunity must be capable of being converted into feasible projects.
• Two major characteristics of a business opportunity should be highlighted.
  • Good and wide market scope, i.e. gap between present or likely demand and supply.
  • An attractive, acceptable and reliable return on investment (IRR).
• Business opportunity need to be analysed from the view point of production, commercial, managerial, potential and prospective demand for the product, technical viability, etc.