OPPORTUNITY SCREENING 6. REACH.
Opportunities that have good chances of
• Is the process of cautiously selecting the best
opportunity.
• It is important to come up with a short list of a few
very promising opportunities, which could scrutinized in
detail.
PERSONAL SCREENING
• Do I have the drive to pursue this opportunity to the
end?
•Will I spend all my time, effort, and money to make the
business opportunity work?
• Will I sacrifice my existing lifestyle, endure emotional
hardship, and forego my usual comforts to succeed in
this business opportunity
THE 12 RS OPPORTUNITY
1. RELEVANCE to Vision, Mission, and objective of the
entrepreneur. The opportunity must be aligned with
what you have as your personal Vision, Mission, and
objectives for the enterprise you want to set up.
2. RESONANCE to values. Others than Vision, Mission,
and Objectives, the opportunity must match the
values and desired virtues that you have or wish to
impart.
3. REINFORCEMENT OF ENTREPRENEURIAL
INTERESTS. How does the opportunity resonate
with the entrepreneur’s personal interests, talents,
and skills?
4. REVENUES. In any entrepreneurial endeavor, it is
important to determine the sales potential of the
products or services you want to offer. Is there a big
enough market out there to grab and nurture for
growth?
5. RESPONSIVENESS to customer needs and wants If
the opportunity that you want to pursue addresses
the unfulfilled or underserved needs and wants of
customers, then you have a better chance of
succeeding.
expanding through branches, distributorships,
dealerships, or franchise outlets in order to attain
rapid growth are better opportunities.
7. RANGE. The opportunity can potentially lead to a
wide range of possible product or service offerings,
thus, tapping many market segment of the industry.
8. REVOLUTIONARY IMPACT. If you think that the
opportunity will most likely be the “next big thing”
or even a game-changer that will revolutionize the
industry, then there is a big potential for the chosen
opportunity.
9. RETURNS. It is a fact that product with low costs of
production and operations but are sold at higher
prices will definitely yield the highest returns on
investments. Returns can also be intangible;
meaning, they come in the form of high profile
recognition or image projection.
10. RELATIVE EASE OF IMPLEMENTATION. Will the
opportunity be relatively easy to implement for the
entrepreneur or will there be a lot of obstacles and
competency gaps to overcome?
11. RESOURCES REQUIRED. Opportunities requiring
fewer resources from the entrepreneur may be
more favored than those requiring more resources.
12. RISKS. In an entrepreneurial endeavor, there will
always be risks. However, some opportunities carry
more risk than others, such as those with high
technological, market, financial, and people risks.
Activity
For your own point of view, how will you describe
the “THE 12 RS OF OPPORTUNITY”?
In long bond paper draw you’re your point of view,
at the back of your activity explain your work.