In a training program at Asharqia Chamber branch in Qatif, Specialist calls for monitoring good ideas in preparation for transforming them into investment opportunities
On December 12, 2018, Asharqia Chamber organized a lecture in cooperation with Riyadah, and was hosted by the Chamber Branch in Qatif Governorate.
During the lecture, Professor Fatima Al-Khalaf, a specialist in entrepreneurship, called to monitor ideas that could turn into highly profitable investment opportunities.
She presented specifications through which to identify and choose viable ideas to be promising opportunities.
She warns of non-logical ideas that do not correspond to reality, which do not carry value added, as well as other factors that may cause failure in projects.
She confirmed that there is a big difference between the idea and the opportunity, not every good idea is necessarily valid to apply as an investment opportunity.
Opportunities are investment ideas that give returns and profits on the capital invested and compensate for accepting the expected risks.
Thus, among 100 ideas, only one can be chosen.
She called for non-investment in areas that began to descend down, and the need to search for ideas with added value.
She added that the identification of project ideas may be done through different techniques, including listening to potential customers and visiting some projects.
She confirmed that these ideas should be appropriate to the market and suitable for personal interests.
She called for the selection of realistic ideas, by answering important questions, including (what) the needs and desires of customers that will receive the project? (what) will sell the project? (who) are the customers? and (how) will the product or service being offered by the project would be sold? as well as the selection of attractive ideas that are suitable for the market and the selection of low-risk, long-term ideas.
Al-khalaf said that with the existence of a legitimate idea, the investor must take into account a number of things about the product or service it provides.
The product or service must be required from a large number of customers, and these customers are willing to pay a price that provides the investor with a good profit, and that the investor has the experience and knowledge of good, and able to provide the information required for them, as well as a strong incentive to provide customers with the product or service.
She reviewed a number of reasons for the failure of projects including the search for quick profit, putting the project as a last priority, the belief that the project works automatically and does not need attention and care and the belief that the project will make profits from the beginning and will not face any problems.
