Impact Opportunities: Opportunity or Threat
Dick Hendee, a fellow Silver Fox and editor of The Silver Fox monthly newsletter, recently wrote an article entitled, “Go or No Go”. In the article Dick explores how to make the right decision when presented with an opportunity that may have a positive effect on your business. http://www.strategicplanningsuccess.com/images/newsletter_pics/SFA/SFA-Sep-1.pdf
I personally call the opportunities that Dick refers to in his article as ‘Impact Opportunities.’ These are opportunities that can really have an impact on one’s business if they are seized and implemented correctly. In the alternative, if they are not the right opportunity or they are implemented incorrectly then the can cost the business.
Evaluating a business opportunity should be done in an organized, process driven way. A checklist, like Dick provides in his article, is a good place to start. Many items on such a checklist are fairly generic across all businesses. However, each business or industry will necessarily have some issues that are unique to that business or industry. These are many times the really critical issues or questions and the one’s that the business owner needs to spend a little time in developing. A well thought out and developed check list can save a lot of grief caused by a poor choice.
If you would like to learn more about evaluating business opportunities then please tune in on Monday September 12th at 11:00am to hear the “Weekly Business Hour” at www.irlonestar.com or you can listen to the podcast of the show at your convenience after Wednesday 14th at https://www.facebook.com/The-Weekly-Business-Hour-1632422303690908/ .