Home Business Startup Entrepreneurial
Opportunities
 Home business startup operators often find it easy to see the
benefits of new opportunities that arise. But it is also important for them to assess the risks. The risks may
involve a cost (in cash or to people); the time frame for completion may be unacceptable (particularly if
depending on ‘off shore’ raw materials); and you have to think ahead in an attempt to identify any other
potentially adverse conditions that may arise if you proceed.
But there is no doubt that a progressive home business startup operator will look for opportunities and even set
out to create them if none are obvious! The more opportunities you consider, the more likely one of them will come
to fruition and lead to success. But if you don’t take advantage of opportunities when they arise, your home
business startup is likely to stagnate and may never in fact ‘start up’!
When you are busy it is easy to forget that a certain opportunity presented itself and whether it was acted
upon; did it create measurable growth etc. Sometimes we tend to put our success down to luck and/or hard work. But
if you can clearly identify what opportunities led to this growth - you are more likely to keep your eyes open
looking for similar patterns of opportunity in the future. So keep a record.......and be better organised and
skilled!
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No Cost
This template will help you remember the
opportunities that you identified and acted upon; it is good to measure and record your results, so
that you can better recognise similar opportunities that present themselves in the
future.
You can access your FREE
Template on
Entrepreneurial Opportunities here.
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Case Study
When I set up my Art business, I was very aware of what my strengths were. I was a good
technician (my Art work was unique and displayed a strong ‘signature’), but above all, I was an
entrepreneur. I soon had other technicians producing the product while I took advantage of the
opportunities I saw at every turn. I was a natural leader and liked to be in control. I was also
able to negotiate and was not risk adverse. Consequently my Art business was very successful, with
me winning #7 of the Australian Gift of the Year awards; having my work displayed in #6 overseas
countries; having my designs licensed to 16 companies and having #7 sell out exhibitions.
But I was also very aware of what my weaknesses were. I was not good at finances and needed a
manager who would point out potential problems and keep my 'feet on the ground'. I believe my
success was due to being able to recognise and differentiate between the roles of technician,
entrepreneur and manager and having the correct people in the right role for these jobs.
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Tip for Home Business
Start Up Business Operator
When an opportunity becomes available, don’t say ‘no’ because of
the perceived problems. Say ‘yes’ then figure out HOW!
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Low Cost
This
book will motivate you as the story of how
Barbara Gabogrecan took advantage of opportunities to develop an extraordinary Art
business.
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