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Master the 12 Rs of Opportunity Screening

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Master the 12 Rs of Opportunity Screening

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Questions and Answers

Which factor is NOT one of the 12 Rs of Opportunity Screening?

Relevance to Vision, Mission and Objectives of the Entrepreneur

Resonance to Values

Revenues (correct)

Reinforcement of Entrepreneurial Interests

What is the importance of selecting an opportunity close to your interests as an entrepreneur?

It fulfills customer wishes

It helps develop skills (correct)

It ensures a saleable product or service

It aligns with the vision, mission, and objectives of the entrepreneur

What does the success of revenues depend on in opportunity screening?

Expansion potential

Ability to strategize and develop a saleable product or service (correct)

Alignment with customer needs and wants

Quality of the opportunity

What is the benefit of choosing an opportunity that fits well with unfulfilled customer wishes?

Higher chance of success Signup and view all the answers

What is the potential for rapid development in opportunities that can be expanded by adding similar products or services, branches, or franchise outlets?

Reach Signup and view all the answers

Which of the following is a characteristic of a good vision statement?

Simple and easy to remember Signup and view all the answers

What does a mission statement describe?

The company's reason for existence Signup and view all the answers

Which tense should be used when writing a vision statement?

Future tense Signup and view all the answers

What is the recommended length for a vision statement?

2 sentences Signup and view all the answers

Which person should a vision statement be written in?

First person Signup and view all the answers