Ways to identify market opportunities

In the current business world, sustaining business growth and profitability is never guaranteed. Scientific and technological advances cut down the life cycle of products. This instability provides room for new business opportunities. One company our writer found out that expanded quickly with these strategies was Auto Towing. In this article, we’ll focus on ways that will help the entrepreneurs identify new opportunities for business growth.

Identifying a framework is an important aspect as it will help you search for opportunities. To be street sign says market opportunity analysisable to achieve this, it is therefore important to understand the direction of your business and have adequate knowledge of its strengths, resources, and capabilities.

After the understanding of your company’s goals, the next step will be to analyze the market, assess the customers’ needs, and how you are going to meet them.

Market analysis techniques

Consumer segmentation

In order to understand your market demand, identification of consumer segments that share common characteristics is paramount. Some of these characteristics can be hard variables such as gender, residential location, level of education, age, level of income, occupation, or the soft variables which are attitude, lifestyle, purchasing motivations, and values.

Hard values can enable you to estimate the number of customers that your business can attract. For instance, a diapers seller should be in a position to tell the number of children that are there in his/her location of the business. On the other hand, the soft variables will be of help in identifying the motivations that lead to buying decisions including prestige, durability, design, and price.

Purchase situation

Purchase situations must be evaluated to unearth expansion opportunities. The following questions should be asked when examining the purchasing analysis:

  • When do customers purchase your product?
  • Is it when they require it?
  • What are the methods of payments?

Looking at various channels such as distribution and payment methods can help you on how to position your products appropriately. Also, offering new shopping options can bring in new customers. For example, introducing machines to make yogurt and bake cakes can promote consumption.

Another aspect which you can introduce is various means of payments. For instance, recently, Amazon introduced Amazon cash that enables its customers to shop online using their personal Amazon accounts.

If you’re running a startup and need to find capital for your venture. Check our article out for some great info.

Business to Start with Little or no Capital

Business to Start with Little or no CapitalMany people want or are willing to leave their 8 to 5 jobs for something that will make their passion complete. People do not want to retire at the age of 55 or 60 and look back and find like they have wasted their lives. The good news is that one can start a business even without spending much or no capital at all. Some businesses listed on this article only require only a good internet connection, while others might need some vocational skills only.

Affiliate marketing

This is an extremely easy business to venture into. You get paid by commission and it involves promoting services and products of a certain company. Ideally, you choose a product of your choice, promote it and on each sale you get your commission. How cool is that? The business is even more to start if

  • You have a website of your own
  • Your website has a lot of visitors
  • Successfully undertaking the marketing and being able to show it to your potential customers.


A company having a new product often looks for people to review their products and encourage people to buy them. You can get started by either the company contacting you directly or the advert on a website that you visit. You offer your review and influence people to buy the product in return you get paid. It becomes more paying if you have your own blog or a website.  Having a website helps you to write more about the product, thus giving you a room to charge more and  create a portfolio which you can use to show your future clients.

Secretarial services

The remote services do not require a lot of experience and if you have the following you are good to go.

  • Good organizational skills.
  • Excellent communication skills
  • Impeccable level of autonomy

As a freelancer, your daily duties may include;

  • Booking meetings
  • Reply mails
  • Answering the calls
  • Preparing and organizing presentations

Website developer

The world we are living in is digital and every business that is upcoming needs a website to boost their services or sales. The industry is not dying soon so if you have the required skills, you can create one or approach a company to set one for them. Read and learn more about business casual policy so you can dress up in your own style and way.

Business Casual Policy

Business Casual PolicyCasual business policy is a policy that allows employees to dress in an unofficial and appropriate dress code. It has become a trend for employees to dress casually to work nowadays. It aims at giving the employees the freedom to dress in a comfortable as well as an appropriate way to conduct business operations.

Male employees have a different casual way of dressing unlike that of women. Men in casual wear put on casual shirts without colors while on the other hand ladies put on blouses with or without colors. Businesses today are not focused on official looks rather they focus on making employees feel comfortable as well as dressing appropriately.

Casual dress code

What is a casual dress code? That is difficult question to answer. Business dressing code normally is dressing in a suit and tie or dressing in an official skirt or blouse. Businesses are now considering casual were as an appropriate way to dress in. To attract highly skilled and talented labor, organizations are overlooking certain requirements that do not affect their overall performance. Changes in style and fashion have also led businesses considering casual attires.

Male casual dress code

What makes up a casual dress code vary according to the region one is working or type of business. However, there general clothes that are considered casual for instance sports clothes, sports shoes, t-shirts or loafers shoes. Employees in casual wears are more approachable and still maintain am appropriate business look.

Female casual attire

Due to increased changes in women fashion trends it is difficult to tell which women casual looks are appropriate. Decency is key when selecting the best casual wear. When putting skirts for instance it is advisable to put on one that is below or at the knee. Avoid too much jewelry.

Regulations of casual policy

The regulations on a dress code are mainly company policies. Therefore, different organizations have different regulations on which dress codes are acceptable and the ones that are not. Business dress codes are supposed to be done with caution since they help customers create a picture of the business. There are unacceptable dress code like wearing of flip flops to work. While dressing it is important to create a positive image of the business. It is better to dress extremely good rather than dressing poorly.

Human Resource Department is very keen with matters of dress code of employees and if they find a problem one can land in trouble. Read in detail about sample dress code policy for business attire which is considered as an important element to learn to be an employee.