Why Do You Need a Market Opportunity?
It’s not easy to plan a business. And, it is a waste of time to plan a business around an idea that has no chance of success. You need to find a market opportunity that can support a business. So, instead of rushing in to plan your business, step back and first evaluate that business idea and see if it is worth pursuing.
A market opportunity with sales potential exists when there is a critical mass of customers with unmet needs who will spend significant sums to satisfy those needs. When the sales revenues generated by these customers is sufficient to support a business, you have discovered a market opportunity with profit potential.