Entrepreneurship Opportunities in Nigeria.

Most good business opportunities do not suddenly appear, but rather result from an entrepreneur‟s alertness to possibilities or, in some cases, the establishment of mechanisms that identify potential opportunities. Most entrepreneurs do not have formal mechanisms for identifying business opportunities, some sources are often fruitful. These include Consumers and business associates, members of distribution system, and technical people. Often, consumers, such as business associates purchasing products to fit a certain lifestyle, are the best source of ideas for a new venture. It is usually very common to hear people say “if only there was a product or service that would”---------------------------------------------- This comments usually results in the creation of a new business. Many businesses have started as a result of complain about poor quality or high cost of the product or service by the consumers. Many other entrepreneurs have identified business opportunities through a discussion with a retailer, wholesaler, or manufacturer‟s representative. Technically oriented individuals often conceptualize business opportunities when working on other projects. There are several Entrepreneurship opportunities in Nigeria. According to the Nigeria Small and Medium Scale Enterprises Tool kit, Developing a Business Idea is (a) A Matter of creating a Vision, (b) Leveraging your Strengths, and (c) Determining What the Markets Needs. (i) Create A Vision
The Tool kit says you should Envision what you want by Answering the following questions: (a) Where do you Live? (b) How do you spend your Days? (c) What kind of Work do you Do? (d) Do you Work alone or with Others ?(e) Who are you Surrounded By? (f) What do you do when you are not Working? (ii) Leverage Your Strengths Determine What you Good At: (a)Everyone is Good at Something.(b) Your Skills can be a foundation for a Business (c) Many Entrepreneurs have Ended up Making Money in Areas Outside their Profession.(d) List the Things you Enjoy Doing (e) Itemize the Skills you have Acquired Over the Years. (iii) Figure Out What The Market Needs Keep your Business Antenna Up, With an Eye For Unfilled Opportunities. (a) Is there a Gap in the Market? (b) Is there a Market in the Gap? (c) Is there a Product or Service that Would Make Life Easier for People you Know? (d) Is there Something that Everybody Hates to do that you can do for Them? Your ability to answer these questions will open up Entrepreneurship opportunities for you.