Ideas and Opportunities

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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Category: Philosophy - I