When writing a business plan how do you define a business opportunity?

Personally, I like the N.O.S.P.A.M. (Need, Opportunity, Solution, Process, Adversary, Money) business plan model found at the link below.





Another model I like is found in the book Good to Great. It says to choose something that meets there three criteria: 1. Something you are passionate about; 2. Something you can be the best at; and 3. Something you can make a fair bit of money doing.

When writing a business plan how do you define a business opportunity?
The opportunity portion of a business plan is generally tied to a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis that you conduct on your target market. An opportunity can be defined in the following way:





* a developing market such as the Internet.


* mergers, joint ventures or strategic alliances


* moving into new market segments that offer improved profits


* a new international market


* a market vacated by an ineffective competitor





If you hit your favorite search engine, you can look for SWOT or SWOT analysis for deeper information on this technique.