Identifying a business suited to
your own skills, e.g., after redundancy.
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You will have an excellent
knowledge of the marketplace.
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You may ignore the needs of the
marketplace, by relying on your own qualities.
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Analysing gaps in the local
market.
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The chances of success should be
increased due to the market research that has been undertaken.
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There maybe a gap due to the lack
of demand, or if successful rivals will enter the market.
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An innovative idea based upon a
strong knowledge of the market.
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A differentiated product based
upon market knowledge.
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Danger of rivals entering if
market is sufficiently large.
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