OPPORTUNITY SCREENING: THE 12RS

Opportunity Screening

The process of evaluating multiple business opportunities before transforming an idea into reality.

Qualitative Assessment

Gathering information, insights, and recommendations from other entrepreneurs in the industry.

Quantitative Assessment

Evaluating opportunities based on four key categories:

• Industry/Market

• Profitability

• Financials

• Management Team

Relevance to One’s Vision, Mission, and Objective

The opportunity must align with the entrepreneur’s personal goals and vision.

Resonance with One’s Values

The opportunity should reflect the values the entrepreneur wants to promote.

Reinforcement of Existing Enterprise Strategies

The opportunity should match the entrepreneur’s skills and talents to ensure efficient execution.

Revenues

The opportunity must attract a significant portion of the target market.

Responsiveness to Customer Needs and Wants

It should address existing gaps in the market and solve consumer problems.

Reach

The opportunity should have the potential to expand across multiple distribution channels.

Range

It should allow for multiple product or service lines catering to different customer segments.

Revolutionary Impact

The opportunity should offer something unique and innovative.

Returns

It should provide high returns on investment, particularly if it can be produced at a low cost.

Risks

The opportunity should have manageable legal, financial, and technological risks.

Relative Ease of Implementation

The business should not require excessive effort to execute successfully.

Resources Required

The opportunity should require minimal resources to reduce potential losses.