Opportunity Screening

- Is the process by which entrepreneurs evaluate innovative product ideas, strategies, and
marketing trends.

The 12 R’s of Opportunity Screening

1. Relevance - The mission, vision, and objectives of the entrepreneur.
- Refers to the extent to which a particular opportunity aligns
with the strategic goals, objectives, and capabilities of a
business or organization.

2. Resonance to values The opportunity must match the values and desired virtues that
you have or wish to impart.

3. Reinforcement of How does the opportunity resonate with the entrepreneurs

personal interests, talents, and skills?
Entrepreneurial Interests
4. Revenues In any entrepreneurial endeavor, it is important to determine the
sales potential of the products or services you want to offer.

5. Responsiveness to customer If the opportunity that you want to pursue, addresses the
fulfilled or underserved needs and wants of customers, then you
needs and wants have a better chance of succeeding.

6. Reach Opportunities that have good chances of expanding through

branches, distributorships, dealerships, or franchise outlets in
order to attain rapid growth are better opportunities.

7. Range
The possibilities
may result
in a vast range of
prospective goods
or services, which
would enable the
industry to reach
many different
market segments.
The possibilities
may result
in a vast range of
prospective goods
or services, which
would enable the
industry to reach
many different
market segments.
The possibilities
may result
in a vast range of
prospective goods
or services, which
would enable the
industry to reach
many different
market segments.
The possibilities
may result
in a vast range of
prospective goods
or services, which
would enable the
industry to reach
many different
market segments.
The possibilities
may result
in a vast range of
prospective goods
or services, which
would enable the
industry to reach
many different
market segments.
The possibilities
may result
in a vast range of
prospective goods
or services, which
would enable the
industry to reach
many different
market segments.
The possibilities
may result
in a vast range of
prospective goods
or services, which

8. Revolutionary Impact
would enable the
industry to reach
many different
market segments.
The possibilities
may result
in a vast range of
prospective goods
or services, which
would enable the
industry to reach
many different
market segments.
The opportunity can lead to a wide range of product or services
offerings.
The opportunity is the next big thing.

9. Returns The opportunity yields the highest returns on investments.

10. Relative ease of The opportunity is easy to implement.

implementation
11. Resources Required Fewer resources are required.

12. Risks Risks are high technological, market, financial and people risks.
 Opportunity Seizing
is the act of recognizing and taking advantage of favorable
situations or chances for advancement."

Opportunity Seeking
Entrepreneurs are innovative opportunity seekers. They have endless curiosity to discover new
or different ideas and see whether these ideas will work in the marketplace. This is what
separates entrepreneurs from the ordinary businessman whose main objective is simply to earn
profits from producing, buying, and selling goods. Entrepreneurs create value by introducing
new products or services or finding better ways of making them. This may include innovation
in terms of products
design or addition of new product features to existing one.

Sources of Opportunity:  STEER

• Internal-Innovation/Creativity  SWOT/TOWS
• External
• Micro market
• Consumer Preferences
• Tools- External/ Environmental Analysis

 PESTE
 PESTEL
 EPISTE