9+ Characteristics of a Good and Potential Business Opportunity

The characteristics of a good business opportunity can be marked by several important indicators. What are you curious about? 

This is important for you to know in order to run your business smoothly. Relax, because the 10 characteristics of business opportunities will be explained one by one in this article thoroughly.

That is, by understanding this it is hoped that when opening a business you will avoid failure with a great chance of success.

9+ Characteristics of a Good and Potential Business Opportunity


Good and Potential Business Opportunity

There are 10 characteristics that must be considered when you want to take advantage of a business opportunity so that it is good, has great potential and can be scaled up for business development.

1. Has a High Selling Value

The first characteristic of a good business opportunity is having a high selling price. On a large scale, you must be familiar with expensive goods because the quality and materials used are of high quality. A simple example, branded handbags, can cost as much as a car.

The high price of the exorbitant bag is not arbitrary. In terms of quality, it is very calculated. Some are indeed made from animal skins, the manufacturing process and selected materials and much more. That's why not just anyone can afford to buy a bag at the sultan's price.

In fact, business opportunities are also not much different. In the business world, the characteristics of a good business opportunity can also be seen from the high selling price. How to have a high value product or business venture?

The answer is simple, simply by doing research on the product to be occupied. Does the product have good and lasting prospects? Or just temporarily.

2. According to Community Demand

Good business opportunities can also be marked from the level of community needs. Where products/goods/services are needed by society at large. As a simple example, the need for vegetables or food sources. Where everyone will obviously look for and need.

The large number of people in need, the long-term business opportunities can be more lasting. Even though it is a basic daily need, and there are many competitors who run this business.

Not all businesses can last long term. Of course those that last a long time are those who consistently provide quality and good quality sources.

For example, students, the demand that we must fulfill is the needs of the students themselves so that the products sold can be very useful.

3. Minor Risk Factors

The hallmark of a good business opportunity is having a small level of risk. This is very important for beginners. As a beginner business entrepreneur, the thing that is most feared in running a business is loss. Therefore, for beginners as much as possible to minimize the risk of loss.

For novice business people, to avoid big losses, it is important to choose a type of business that has a big risk. As a beginner, it would be safer and better to have a light type of business. If it fails, so as not to fall too much.

The small risk factor is also influenced by the capital used as well. If the capital is large, the risk will also increase.

4. Type of Business is Evergreen

The characteristic of business opportunities is the type of business that is evergreen. The meaning of evergreen is that business is not seasonal. For example, the business of selling fireworks.

This fireworks business is only in demand in certain seasons and days. So, avoid choosing this business. Because after it passes, the market will be sluggish.

As previously mentioned, an example of an evergreen business opportunity is a business that is much needed by humans. For example basic needs or primary needs.

Such as the need for clothing, food and boards. While businesses that are seasonal in nature, don't make it a foundation, but if you want to keep doing it as an additional business, that's fine.

5. Long Lasting

Not a businessman who ultimately fails because of wrong analysis. Of the many business options, business ideas that have little risk are businesses that don't have an expiration date or time limit. Or you can say durable.

Of course, long-lasting products make it easier for us to be more relaxed in selling, because we are not in a hurry with the expiration date.

For example selling clothes, selling household furniture or selling stationery. It is guaranteed that the failure rate or loss rate is small compared to choosing a food business that is perishable. Little things like this are very noteworthy so as not to drag on.

If you still want to run a food business, of course, careful calculations are needed. For example, taking into account the time of manufacture and expiration time. You also have to be smart in the process of storing food so it doesn't spoil easily.

6. Easy Product Availability

If the business venture that you are going to run takes the product from a factory or supplier – you do not provide the product independently – then make sure that the product is always available and sustainable. Also make sure, the product you take is also taken at a lower price.

Because after all, no matter how good the business potential and opportunities you run, if it's not matched by the availability of goods it will be the same. Because the principle in running a business is to meet market demand through these products.

7. Has business feasibility

Another characteristic of a good business opportunity is having business feasibility. Not all products have business feasibility.

A consumer will also be more happy and comfortable with a decent product, compared to a product that is not feasible. In other words, business feasibility will affect consumer interest and attractiveness.

The question is, how to have business feasibility? You can start by doing research first. Is the business you are going to run in great demand, lots of stock, in a popular market or not. However, knowing all of this will help you prepare your business marketing plan and strategy.

8. Always Develop Business With Creativity

It turns out that running a business requires creativity. So running a business is not just chasing turnover targets. Turnover will follow if it is accompanied by creative marketing and marketing.

Talking about creativity, of course every business actor has his own way. The principle of creativity in running a business is to be ready and able to compete with competitors without cheating, but by working smart.

9. Original Business

The hallmark of a good business opportunity is original. So businesses that are established and run are based on original, original ideas, not plagiarizing other people's business ideas.

One thing is certain, the business must attract consumer interest. Because without consumer interest, your business will be mediocre and bland. At least an original business will help consumers easily remember your business.

10. Easy to Adjust

It cannot be denied that a good business opportunity is a business that has the ability to adapt. Especially for novice business actors, sometimes they will experience difficulties in adjusting to the market, adjusting to the competition around them.

The ability to adapt to the environment must be prepared. Because there are many surprises in running a business. Including the many surprises of changes in market prices, the quality of goods and competition between entrepreneurs who run the same business.

Therefore, novice business actors must be prepared for situations and conditions that are full of surprises ahead.

Those are the 10 characteristics of a good business opportunity and you must know as self preparation. Hopefully this review is also useful.

One important thing in running a business is mental readiness and an entrepreneurial spirit. Because in running a business, you must be ready for all risks and ready for all challenges.

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