An idea sits in your head. Yes, kind of like that bright bulb moment when you think; “Hey, I know how to solve this problem!” but sitting in your head. This idea likely won’t eventuate. For that you need to create opportunity. This is where you filter through ideas and plan it out, establish its market potential, look at the finances, setup your resources and team to make it happen.
For example…
Little Jimmy had an idea, he wanted to take his mother’s homemade lemonade to school and sell it to his friends to make money. Great idea Junior! However, schools don’t generally want students to setup businesses at school. The idea can be turned into an opportunity however if Jimmy and his mother approached the school’s cafeteria and offered their product to be added to the menu. To do this, they could do a school survey to assess interest, plan for quantities and how they would produce it, purchase necessary equipment and sign contracts. Jimmy could be a school-based businessman after all!
