Home Economics Business Studies Search the Guru Links Message Boards Contacts

Identifying a Profitable Opportunity


It is vital that the right product or service is chosen, due to the high chances of failure.  The Department for Trade and Industry has estimated that a quarter of all business start ups fail within the first eighteen months and 35% fail after five years.


Most business start-ups select an existing good or service and find an innovative approach to providing it.  This new approach will be one that the entrepreneur feels the consumers will prefer, or suits society’s tastes and views at the time.


Think of a business that has opened which simply presents an old product in a new and innovative way.  How have they done this?


Think of a business that has opened that sells its goods in such a manner that reflects society’s tastes and views.  How have they done this?



E-mail Steve Margetts