Making your own business opportunity

It is all well talking about a business opportunity however if you understand how, why and what is a business opportunity then you can go that step further and make your own business opportunities. This article will look at what a business opportunity is and how to utilise them the best.

Where does a business opportunity come from?

If you have a headache would you go for a pain killer, or a vitamin pill? A silly question but many businesses sell vitamin pills. The biggest business opportunity comes from killing pain or solving a business problem. When people are in pain they will find the fastest way possible to cure it. Therefore any business opportunity starts off in reality as a pain. This is how all businesses should start out, to fix a business problem. In Software Contracts case we set out to solve many business problems but our cures are to provide the right external solutions for the right problems. You can see they have many business problems listed at but they do not actually solve them all by themselves.

Find you target market

You have found the pain but you need to make sure what you think is reality. Brain storm and figure out who will be in the most pain identified. Build a database of the prospect customers in your region. You will need them later to ensure you maximise your potential.

Find the cure to the pain

Brain storm the solutions and find the ones that fits the best. Typically this is the first step rather than finding the pain. Doing this before finding the pain will likely mean you will get competition in completely different industries. Meaning you also will not get the most potential return.

Take optimising search results for example. Often this is praised as the silver bullet for everything. However if the pain is for a dentist to be found then being found in the phone book would be more beneficial than being searched online.

Optimise your potential

The final step is to optimise the potential. Think about how you can make money out of your solution. Survey a few of the potential customers you obtained earlier to make sure:

1. There is in fact a market – if not find a new pain

2. There are no other solutions that are better than your own – if there are better solutions available then find a new pain

3. They would be willing to pay the way, and the amount you are offering – if not query the customer on what payment information would suit

If all is well then you are ready to turn your findings in to a business opportunity. Software Contracts have a self help guide on starting a business at

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