1. ENVIRONMENTAL SCANNING&MONITORING

2. Environmental Scanning Environmental scanning is one component of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis. Environmental scanning refers to the macro environment. The global environment refers to the macro environment which comprises industries, markets, companies, clients and competitors. Consequently, there exist corresponding analyses on the micro-level. Suppliers, customers and competitors representing the micro environment of a company are analyzed within the industry analysis.

3. Tips For Identifying The Best Home Based Business Opportunity Identifying the finest residence based business opportunity can be a bit daunting. There are just so several possibilities to choose from that saying just one of them is the very best residence based company chance can be a real challenge. As a potential company owner, it is vital that you understand how to separate the excellent organization opportunities from the not so fantastic ones. Creating a sense of the lasting possible of any organization chance will significantly impact your future success as an entrepreneur.

4. MEETING DEMANDS To be an entrepreneur , you have to determine the needs or demands of the market, and be able to supply that demand. A product or service, no matter how attractive, will not succeed in the market if it doesn’t have people willing to avail of them. This is why we should make sure that there is a demand for a business before actually starting it.

5. The Four Before-Business Considerations Personal Considerations -anything that could impact how you work Marketing Considerations -all about promoting and selling your goods and services The Four Before- Business Considerations Production Considerations -Make sure that you can supply the needs of the market Financial Considerations -The delay between the shipping of goods and your receiving payment for them will affect your cashflow

6. EXAMINING YOUR BUSINESS OPPORTUNITIES 1. Improve existing goods and services -There is a great possibility that other people are already selling the goods or services you have chosen before you start. 2. Anticipate Future Needs -Always be on the lookout for the possible future needs of the market. 3. Assess How needs are satisfied -There are times when the demand for a product is too great for the business to satisfy. 4. Make use of the available resources -Some areas have abundant materials that can be turned into saleable articles.

7. 5. Take advantages of new technologies -Modern technology has helped many industries become competitive in the market. Make use of every modern of doing your business that you can afford. 6. Educate Yourself -An entrepreneur is never satisfied with he knows, and believes there is always room for improvement. Get up-to-date on the latest developments in your industry.