If the personal satisfaction of a college degree is taken as a primary consideration, this would be the alternative selected by some. Others could give more weight to the independence which means having an own business and opt for this alternative. Therefore, there is no magic formula to select an opportunity. Everything depends on many factors. For many entrepreneurs, the main consideration is to compare the opportunity with current employment and its growth potential in the same.
One of the greatest risks to a person who considered starting your own business is the general tendency of being too confident and expect things to happen as well or better than expected. It is important to analyze the market, implementation and product differentiation. The majority of the entrepreneurs are still a basic five-step process: capacities capacities, knowledge and experience of the entrepreneur are consistent with the opportunity? Novelty has the product or service qualities which make it significantly new and different? Does create significant added value for the customer? Do enough that a client wants it and pay for the product? Resources can the entrepreneur attract financial, physical and human aid consistent with the magnitude of the project? Return on investment can the product be manufactured at a cost that a profit will occur? It is the consistent return with the risk involved? Commitment is the entrepreneur sufficiently committed to the project? Do you feel passion for the same? The purpose is to discard the least promising opportunities and worthwhile to devote himself to them worth Yes. In general, those opportunities in markets or industries in which the entrepreneur has little experience must be ruled out. Characteristics of each opportunity to dictate the analytical effort and level of research necessary to make a decision.
