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Answer» The basic elements of business opportunities are (A) Market for the idea B) Availability of Funds. For an idea to an opportunity, it is essential to have a reasonable market base.
Though initially there might not be sufficient customers or clients, however over time there must be demand and market for the opportunity.
Second, for a successful opportunity to be profitable, the availability of funds is essential.
Easy and cheap availability of capital determines the success of a business. I think the key elements of any business opportunities are: - Business concept. You should effectively describe your business concept and ideas, its product, and the market it will serve. You should point out what exactly you will sell through your business and what are the competitions in your business. What is the market size of the business you are planning.
- Financial features. Highlights the important financial points of the business including sales, profits, cash flows and return on investment.
- Financial requirements. Clearly states the capital needed to start the business and to expand. It should detail how the capital will be used, and the equity, if any, that will be provided for funding. If the loan for initial capital will be based on security instead of equity, you should also specify the source of collateral.
- Current business position. Furnishes relevant information about the company, its legal form of operation, when it was formed, the principal owners, and key personnel.
- Major achievements. Details any developments within the company that are essential to the success of the business. Major achievements include items like patents, prototypes, location of a facility, any crucial contracts that need to be in place for product development, or results from any test marketing that has been conducted.
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