If you have a Service Learning Community Partner for this class, you may be able to skip this step, as your client may already have an idea or opportunity. If so, then proceed to the Product/Service Feasibility section of this guide.
How do entrepreneurs generate ideas or identify opportunities for new business ventures?
Trend analysis, demographic analysis, and gap analysis are three methods of opportunity analysis (Hisrich, 2014).
Here is a selective list of resources that review techniques for generating ideas, as well as sites that offer suggestions based on current trends and opportunities.
COVID-19 (Coronavirus) and Beyond: Insights, Trends, & Opportunities
Industry-focused analyst insights with global coverage, including the impact of COVID-19. For industry reports, see the IBISWorld Industry Market Research Database. Brock subscribes to the Canada, US, and China reports.
Infographics (chart of the day) on trending topics around the world including the impact of COVID-19 pandemic. Consult the Library's Statista database for full access to the reports and data cited on this page.
IBISWorld Industry Research DatabaseThis link opens in a new windowProduces and publishes over 425 Canadian and 1,300 US Industry Reports at the 5-digit level of the NAICS code.Contains trends, statistics & analysis on market size, market share of major companies and industry growth rates.The Library subscribes to the following modules in IBISWorld: Canada Industry Reports (NAICS), United States Industry Reports (NAICS), Canada Industry iExpert Summaries, United States Industry iExpert Summaries, United States Specialized Industry Reports, United States Specialized Industry iExpert Summaries, China Industry Reports (200 industries), Canada Industry Provincial Reports (50+ Ontario industries), and Canada Collection of Macroeconomic Business Environment Profiles.Permitted Uses
Mintel AcademicThis link opens in a new windowIncludes market research, market analysis, product intelligence, and competitive intelligence reports.Brock University has access to Mintel Reports for Canada and USA, which covers a wide variety of sectors, themes, and demographics.Coverage:Canadian Reports 2014-current ; US Reports 2008-current ; content added monthly, with most reports updated annually
PassportThis link opens in a new windowThe Passport database includes Megatrends Analysis reports focus on the 20 megatrends shaping consumer markets around the world through 2030.
StatistaThis link opens in a new windowContains more than 1 million statistics on over 80,000 topics.Contains Statista dossiers and industry reports for 170 industries and 150 countries.Includes market forecasts, as well as market, industry and country outlooks and insights.