Asked by Grant Haake on Jun 11, 2024
Verified
If an idea is not an opportunity,what is an opportunity?
Gross Margin
A company's total sales revenue minus its cost of goods sold (COGS), divided by total sales revenue, expressed as a percentage.
Fixed Costs
Expenses that do not change with the level of goods or services produced by a business, such as rent, salaries, and insurance premiums.
Sales Increase
A rise in the number of products or services sold, often indicating a growth in a company's business activities and revenue.
- Understand the difference between an idea and an opportunity in the context of entrepreneurship.
Verified Answer
BF
Babatunde FadojuJun 13, 2024
Final Answer :
Opportunities create or add significant value to a customer or end-user.They do so by solving a significant problem,removing a serious pain-point,or meeting a significant want or need for which someone is willing to pay a premium.Superior opportunities have robust market,margin,and moneymaking characteristics that will allow the entrepreneur to estimate and communicate sustainable value to potential stakeholders.They are a good fit with the founders and the management team at the time and in the marketplace-and they exhibit an attractive risk-reward balance.
Learning Objectives
- Understand the difference between an idea and an opportunity in the context of entrepreneurship.