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MBAB 5P23: Entrepreneurship

A guide to sources useful for researching and writing a business plan.

Idea Generation & Opportunity Recognition

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
  • Below 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.

Websites: Insights, Trends, & Opportunities

The following websites offer information regarding trends at industry, national, and international levels. These can be places to start identifying trends or gaps where a potential product or service idea would fit.

Library Databases: Insights, Trends, & Opportunities

The following library databases can also be searched to identify industry trends, demographics and market analysis, and other key statistics and analysis that are used to identify opportunities for new business ventures.