How to Find a Real Business Opportunity
How to find a real business opportunity is that a challenge you are having?
Opportunities are everywhere, and here is a business opportunity I came across and am now pursuing.
I was watching a national rural news item about a small country town in Eastern Australia that has overnight become an international tourist destination.
This small rural community has gone through some dramatic changes in the past 30 years with a diminishing population now circa 600 and shrinking. The town’s infrastructure is only sufficient to cope with the local population let alone the 1000+ (and growing) international visitors it is receiving each week.
Limited facilities, an old country hotel with limited accommodation, no restaurants, no supermarket or even a local grocery store. The town residents are crying for help as they see the potential but have now idea what to do or where to start.
Herein lies an opportunity, the town is in desperate need for some form of food service, new and expanded accommodation, and a tour guide service. I could see immediately, here’s a great opportunity and have jumped straight into researching and developing a business plan and market plan
You might be asking yourself that’s way too big for me I could never get the funding for a venture like this, or I don’t have the experience or ability to do anything like that.
Get your Mind into Action
This is where you need a proactive mindset and get that problem solved.
How am I going about this?
First is some local investigation and meet with the local government and business community/council
What do they have and what do they need, i.e., infrastructure facilities, etc. Also, what do they want to achieve and importantly are they or their members willing to invest?
The local government and communities are excited and have given some fantastic insight into the venture and their input to the development of a business and marketing plan have proven invaluable. Involving your stakeholders in building a plan is a great way to test the market and get an understanding of business areas, risks and opportunities, etc. you may not have even thought of.
The next step is funding, how will I do that you ask?
There are many forms of funding available, the traditional bank loan to investment houses. Then there are the Angel investors to investment from those with spare cash they want to invest, the professional investor who is on the lookout for a great opportunity but does not want to be involved with the start-up or operation. These days with online finance available, such as crowd funding the methods of raising capital are much easier, provided a solid business, can be demonstrated by way of Planning
After reviewing the options and with a solid plan in place, I have decided to seek finance online through “Crowd Funding” the reason for this as it’s a solid business plan with a huge growth potential. As it involves tourism and particularly the possibility of eco-tourism and is something that will assist a struggling community. It’s this type of investment that attracts Crowd Funding.
What is Crowd Funding
Crowdfunding takes a different approach to traditional business finance. Normally, when you want capital for business, project or product, you need a well-prepared business plan, including market and product research, and on-top of that you need a great pitch to present to a limited hard-nosed ridged investment bankers or institutions. As mentioned above these include banks, angel investors, and venture capital companies, all of these giving you limited options.
Crowd Funding is a way to raise capital by using the combined available funds of your known associates such as family and friends, your customers, and even individual investors. Crowd Funding taps into a large pool of individual investors, by using social media and these days Crowd Funding platforms or even websites such as this. Crowd Funding on these platforms enables reach and exposure to investors who may be looking for something different, anonymity or only have a small amount they want to invest. Often small investors are overlooked in the traditional investment funding market, and Crowd Funding allows for them to enter investment markets.
Is Crowd Funding Different
Crowd Funding gives you, the entrepreneur, a place to build, showcase, and pitch your idea directly to a multitude of potential investors. In the past getting your idea in front of investors and then securing finance was a long slow drawn out process. Spending months and spending valuable time and money just to get a look in and then often rejected on a whim. With Crowd Funding, getting your idea in front of more interested parties that can add value and give you more confidence and motivation to succeed is a great plus.
Benefits of Crowdfunding
Having more flexibility in fundraising and a wider investor pool, Crowd Funding gives many advantages; you have access to thousands of approved investors who can easily review and question your idea.
Presenting your idea to a larger audience and when investors express interest and ask questions, you’ll soon see if there’s something you have left out, and that gives you the opportunity to refine it and work on selling.
With Crowd Funding you can share and promote your campaign through social media, email newsletters, and any other method you may like. If you have a website, you can also focus on writing an article such as this to gain investors and other company resources.
Crowd Funding gives the ability to centralise your fundraising efforts by using one of the many Crowd Fundraising platforms available; such as www.gofundme.com www.kickstarter.com many others are available online check out a site such as www.crowdfunding.com to get some ideas.
Business opportunities are everywhere starting one has never been easier, don’t stand on the sidelines waiting for the opportunity to fall in your lap. Take action and start your business today…Good Luck…
About Darren Wilkins
Darren is a semi-retired senior executive and serial entrepreneur who runs a number, of successful businesses both online and offline.
With 30+ years experience in management and as a management consultant Darren has a can-do attitude and offers real practical advice that can be used for any business no matter the size, Darren is using his time focusing on online opportunities and building better businesses.
With global experience managing and directing multimillion-dollar mega construction projects and businesses. Darren has a wealth of practical experience to share and wants to help you and your business.