Want a real-life example? After the terrorist attack on the Twin Towers on September 11, would you invest in the airline industry? You might think that no one would, but that's exactly what Gol did.
While the competition was cutting costs and laying off employees due to the lack of passengers, all fearful of terrorist attacks, Gol acted strategically and invested, taking advantage of extremely advantageous conditions for the acquisition of new aircraft.
Gol concluded that the crisis was temporary and that sooner or later people would return to using airplanes as a means of transportation. And they were right! The result? Gol gained ground. When the crisis eased, other companies began to stabilize again. Gol was already well ahead in the market. What Gol did was to think differently and accelerate development in the face of competition that was slowing down all processes.
Ideas X Business Opportunity
Although the idea is the basis for identifying a great business opportunity , there is a considerable difference between them that is important to clarify. While the idea is belgium business fax list the result of creativity, without the commitment to be economically viable, business opportunities are existing needs of a market niche that are not being met satisfactorily and that can bring a financial return if implemented.
How to identify a business opportunity
You can identify business opportunities by knowing your target market well and learning from customer behavior. From there, you can analyze whether there are unmet needs and unsatisfied desires. If there are, the next step is to check the feasibility of creating a product or service that effectively meets these needs and desires.
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How to evaluate a business opportunity
During the process of evaluating business opportunities, it is important to take into account whether the market in question is structured and the number of customers interested in it, in addition to estimating the growth of this market for the coming years, understanding how it is growing or could grow.
I have identified and evaluated a business opportunity. What now?
Now it's time to establish the competitive advantages you want to implement in your business, determining profitability and the return on investment period. Here the stage is purely planning , defining processes and action plans that involve marketing and communication strategies.
