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"GoForth is a paradigm-shifter. They’ve figured out how to deliver fast, affordable, really effective and convenient entrepreneurship education. This is a game changer in Canada."

Patrick Lor - Co-founder of iStockphoto and CEO of Dissolve

"This course informed me of aspects of business that I had never thought about before, such as how to take legal action, managing accounting and finance, and how crucial it is to have your business down on paper before launching into it."

Erin Ignatio - Fine Artist and Milliner

"I’ve run a small business for over 10 years and thought I knew what I was doing – until I took GoForth’s course. Wow, where was this 10 years ago?"

Maritza Leach, Owner, Kantera - Elegance in Stone

 

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Have a burning business question? Just looking for a little advice? Maybe you want to see what a cashflow forecast should look like, or what a successful business plan should include. Our resource library has all this and more. No problem. No charge.

 

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Visit GoForth Institute's Blog for Trending Business Topics

When is a business idea a business opportunity?

14 January 2017, 12:00 pm by Samantha Garner

Did you know venture capital investors reject about 98% of the business ideas pitched to them? That means that for every 100 great new business ideas we might come up with, only two are likely to be business opportunities. Yikes!

A great business idea doesn’t automatically ensure a good business opportunity. So, how can you tell the difference?

A business idea is a business opportunity only if it can make a profit for you.

To us, a good business opportunity is represented by four pillars:

  • The product or service must add significant value to a customer or end user
  • The product or service must solve a significant problem or satisfy a significant want or need
  • The product or service must have money-making characteristics
  • The business idea should be a good fit with your four capital factors: human capital (skills, knowledge and abilities you’ve developed through your career);  sociological capital (your networks and support groups); psychological capital (your attitudes, values, opinions and beliefs); and financial capital.
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