1. Assess global trends and opportunities for business ventures/products

2. Sources of information about global trends and opportunities for business ventures/products
newspapers
trade publications
research institutes
travel
trade shows

3. Determine current global trends

4. Determine opportunities for venture/product creation
Work Experience
Educational Background
Personal interests
Experiences as a customer
Unmet needs or problems
Available / Needed resources
Market structure
Market Timing
Conduct Research

5. Let’s Review
Which of the following is a global trend that might encourage an entrepreneur to consider international business opportunities: A. Higher allowances B. Lower tariffs C. Enforceable trade agreements D. Flexible currency rates

6. When determining venture-creation opportunities, entrepreneurs must first
obtain financing.
conduct research.
Identify staffing needs.
D. Select a location

7. Jessica's hobby is making jewelry
Jessica's hobby is making jewelry. There is potential to sell her bracelets and earrings on eBay. This is an example of identifying a product opportunity by considering
demographic changes.
business processes.
consumer attitudes.
personal experiences.