You may be convinced that you have hit upon the perfect business opportunity that will take you on the road to success. But before rushing to invest your life-savings into it, it would be more prudent to put the idea to a simple little test that will determine the feasibility of the idea.

Test your product with an initial set of users for the feedback which can make or break the business. It doesnt pay to keep the idea all to yourself. Take your pick of people you know who would be likely to use the product.

Its a big mistake that many small businesses make of attempting to please everybody at the same time. Even if the idea is likely to suit multiple markets, zero in on one which you feel has the greatest need for it. Be specific about who you are targeting and focus on that group.

A freshly conceived business idea is very much like a new born baby. It needs to be nurtured and protected till it grows big enough. The protection the idea requires is from competitors in the market who wont hesitate to steal it if they can. A number of protective measures can be taken including exclusive contacts, licensing, patents and the most suitable location in the vicinity.

A business of any kind is ultimately boiled down to the need for a product or service. If the customers needs are fulfilled your business opportunity gets a high rating. A new version of an existing product may meet a need in the market but if consumers dont want a new version, success may prove elusive.

No matter how fool-proof and brilliant an idea may seem, a small business always needs to be weighed against the costs involved in setting it up. You may not have the funds required to realize the dream business opportunity or, you may not be willing to do what it takes to raise the required funds. The business opportunity needs to be within your means to raise the financing it requires.

Similarly you need to evaluate your skills in terms of the requirements for your business opportunity. It is advisable that you stick to your areas of expertise rather than embark on a completely new dimension thjat you have no prior experience or knowledge about.

Look into the future to assess your business prospects. Whether its new technology, government regulations or changing trends, its important that there arent strong chances of your business being made obsolete in the near future. For instance at a time when digital piracy is on an upswing, it would make little sense to open a music store.

The success of your business will depend a lot on the workforce you put together to run it. Not only should the staff be skilled but motivated as well. This factor is important enough to make or break your business. Its a well known fact that god people are hard to find so figure out how you plan to rope in the workforce and also how you will retain them.

In the current times, the best prospects in business opportunities range from, public relations and management counseling to home contract referral services. The best opportunities span a diverse field from ways to save time and money to the constantly evolving Internet revolution.

E-learning has become one of the hottest trends in the Internet age. Simply speaking e-learning involves imparting education and learning electronically on the Internet. small businesses can find great opportunities in offering services for highly specialized content.

Home repairs are always a much sought after service everywhere. Homeowners deplore the lack of a reliable and trusted service. Home contracvtor referral services have lately started appearing to meet the growing need for this segment. A case in point is Angies List now with 10,000 service companies catering to more than 100,000 members.

The boom in PC sales for homes and small businesses has increased the demand for on-site computer services to over 300 billion with not a single national chain having ventured into the market. Repair, upgrade and networking requirements of business and consumer clients hold tremendous opportunities./ It isnt necessary to have the technical expertise to provide the services as hiring certified technicians for the services is adequate. Another option is for franbchise opportunities with an example being Geeks on Call which took barely 2 years to expand to nearly 70 franchises.

Direct selling and multi-level marketing are currently on an upswing thanks to the prevailing economic uncertainty. The ever increasing unemployment figures couples with a rising need for supplemental income make recruiting relatively easy.

The online gaming market is in throes of an explosion with over 114 million players estimated to be participating across the world. The Sims, the leading name in top selling names went online in December 2002, to tap the online gaming market. Even with intense competition in the market, the business opportunities are tremendous for support to the companies involved in the development of online games.

Management consultancy as a field is in midst of steady growth. Businesses include major firms as well as small boutique shops and independent consultants. Though the Uniuted States is estimated to have more than 75,000 independent consultants, further growth is inevitable thanks to a combination of globalization, deregulation, rapid technological progress and the outsourcing boom. The average fees for consultancy services can vary from $100 per hour to as much as $500 per hour for the biggest names in the business.

A management consultancy business has the option of being industry specific as in pharmaceuticals and retail or function specific like in the case of waste management and leadership training. Make your selection of the industry with care.

Search engines continue to lead Internet tools for the purpose of helping shoppers find information on intended purchases. According to the Association of National Advertisers, 75% of major US companies utilize search engine positioning. Both large and small companies follow the policy of outsourcing optimization of their web pages for priority listings in search engines like Google, to professionals. Still in its infancy, the search engine optimization business requires skills including understanding reciprocal linking, keyword development, html expertise and mastering languages.