Entrepreneurial Beginnings

1. During the course of a relatively normal week, observe the things that you might not normally see when you are in a hurry. Watch people – what products and services they use and don’t use.
Then list ten (10) product or service opportunities, needs, or solutions that you recognized from your observations. Include a brief situational description for each. State what you observed.

Business Opportunities

ANSWER

Developing a business idea requires critical thinking. This paper highlights my list of opportunities, products or services crucial in satisfying the business needs of my observed population. My list of business opportunities and ideas are as follows.

Fashion designed clothes

Marketing agency

Cooperative business association

Vending machine business

Rack jobber business

A tutor business

Business legal advisor

Android application developer business

Retail business

Brokerage business

Situational analysis

I observed a population that embraced different types of fashioned designed clothes. Such clothes enlightened my thoughts towards starting a fashioned designed clothe selling business. In my observation, I also noticed the massive use of technology as a communication tool amongst my chosen population. Using telecommunication, I can initiate a network marketing agency to advertise and connect business entities with potential customers (Patel, 2020). With the numerous small businesses that I observed, I would venture into a cooperative business to connect these existing businesses affiliating them with larger business network for business growth.

I also thought of starting a vending machines routes business to alleviate the problem of small traders having to be present in their shops for the operations of those businesses. I would buy the machine together with the products to be vended for a digitized small trade business. I also considered the need to operate a rack jobber business to sell the products of other larger companies in a variety of stores using their distribution system to access the markets they are yet to penetrate into (Patel, 2020). With the numerous business persons lacking the professional skills of doing business, I can start a business advisor venture and conduct marketing as a professional advisor to support other business ventures. The many children who lack home care support amongst my population of study also prompted me to consider starting a home based child care business as a day care center for taking care of small babies. I also considered starting a tutor business to help teach many of the illiterate population necessary skills towards their daily life requirement. Finally, I embraced starting an android application developer business to employ the unused skills of certain IT professionals in creating an impact on the daily lives of people. My list of opportunities, products and services .therefore, utilize the untapped business potentials of my observed environment in creating successful business ventures.

References

1. Patel (2020). Business Opportunities for 2020 and Beyond. Retrieved from: https://blog.hubspot.com/sales/business-opportunities