Ideas and Opportunities
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Ideas and opportunities are related to one another, but they are distinct constructs. Ryan Allis (2008, p. 1) identifies the differences between an idea and an opportunity as follows: "You can build it and get it to the market; Customers will buy it; There aren't too many competitors detracting from your efforts; At the end of the day you can still make a profit from it." In other words, an idea may precede an opportunity or create one, but the idea is an opportunity "when it is timely, attractive, achievable, durable, fills a need, and provides value to the buyer" (Allis 2004, p. 1). Ideas, in order to be a true opportunity, must be based on a demonstrated need, a ready and accessible market, and the ability to generate a return
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Approximate Word count = 499
Approximate Pages = 2 (250 words per page)
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