I read a post on this forum where a member was asking what business to do with his hundreds of thousands. There are so many others who asks this same question and this made me to decide to post this thread on how to discover good business opportunities. It amazes me to see people not knowing what to do when there are countless of opportunities out there waiting to be exploited. What generate business opportunities are our environment and its changes. This is why it is necessary for us to update ourselves with information as this reveals the changes in our environment and gives us the entrepreneurs the chance to make business exploits.

There are factors to consider when searching for a business opportunities and these factors are:

1. Market vacuum: look around you environment properly and you will discover that there are people's need which are not met. This is an opportunity for an entrepreneur to capitalize on and make a living. Like in Nigeria, there are no companies manufacturing some capital goods like washing machine, tractors but people really need them. Some entrepreneurs went to import these goods from the West down to this country.
2. Existence of poor quality product: when there are poor services or products in an industry, it is an opportunity waiting to be tapped. Go ahead and provide a better quality product or service and you will enjoy what you do. Example can be drawn in the poor and slow services that were offered in the postal services which created an opportunity for fast delivery services from companies like DHL.
3. Overpriced product: when a product or service is overpriced in an industry, it creates a room for opportunities provided that you can offer the same quality of service at a cost effective lower price. Like in the telecommunication industry in Nigeria, high charges of MTN have given an opportunity for other telecommunication company to come in promising to give a better service at a lower price.


   , To be continued

hmmmmmm

That was a good one.
keep it up