Internal opportunities

No matter what business you begin or embark on, it had to meet a consumer need. But many successful entrepreneurs have started business that initially did not really meet much consumer need. Many entrepreneurs have built on passion alone. An internal opportunity is one that comes from inside you-from a hobby or from some passion that you have. That passion won't ignite a successful business, though, unless you can find a way to make other people share your passion of find people who already do.




External opportunities

When you look outside yourself for business ideas, you can find external opportunities. Maybe you notice that people in your neighborhood are complaining about the lack of available day care or a particular product, so you start a day care center. The business might succeed, but you could burn out quickly if you aren't the type of person that loves being around screaming toddlers all day long. That's the problem with external Opportunities, your business idea may fill a need for the market but you may not have the interest, skills, or passion to enjoy putting in the time and energy needed to make it a success.
The best opportunities are both internal nd external. ideally, a business that you can you are passionate about meets a huge external need in the market place.


ENTREPRENEUR STORY
in the late 1980s, Russell was promoting rap concert at a city. Most record executives thought rap was a trend that would run it course in a tear or two, buy Russell really Loved rap and believed it could be huge. For 5000$, Russell formed a record label with a fellow student.
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