Spotting a good business opportunity can be difficult, but it is not impossible. Most important is to assess how the opportunity fits in with your organization's overall strategic path. The following is a five-item checklist for spotting good business opportunities, adapted from an article in Forbes.
1. Alignment: Does the opportunity align with your organization's values, vision and mission? Does it add value to your organization?
2. Advantage: Does the opportunity provide your organization with a competitive advantage or a chance to lead the field?
3. Assessment: Is the opportunity affordable, feasible, adoptable and actionable? Will it simply be a distraction?
4. Accountability: Does it have the accountability associated with a true opportunity, or is it only an idea?
5. Achievement: Does it have the potential to lead to achievement? Can it be realized?
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1. Alignment: Does the opportunity align with your organization's values, vision and mission? Does it add value to your organization?
2. Advantage: Does the opportunity provide your organization with a competitive advantage or a chance to lead the field?
3. Assessment: Is the opportunity affordable, feasible, adoptable and actionable? Will it simply be a distraction?
4. Accountability: Does it have the accountability associated with a true opportunity, or is it only an idea?
5. Achievement: Does it have the potential to lead to achievement? Can it be realized?
More articles on turnarounds:
Senator Rand Paul on medical mission to Guatemala
Is my team engaged? 10 steps to earning employee engagement
7 ASCs making the news next week