All opportunities require action

When ever you read a business plan the business opportunities available are always set out to justify the reason for establishing the business or taking a particular course of action. However, after a conversation recently with a client about a lost opportunity, I started to question how often business opportunities are challenged to ensure they are achievable and, more importantly, to make sure they are complete.

In this particular case the client was bemoaning the fact that they had been approached by a national retailer to provide a large quantity of tulips, something for which they had an extremely good reputation but in this case the volumes where just too much for them. Not only couldn’t they supply the volume, if they had tried other customers would have suffered. The problem was more acute because of the seasonal nature of production and the fact that you can not just increase or decrease production of tulips. Also, the risk of over production on the off chance of a large order was too great.

What does this lost opportunity tell us? In the first instance it was the right decision not to take the order as the knock on effect to existing customers would have been detrimental to future business; but on the other side of the coin the prospective customer is now unlikely to make further enquiries as they will perceive that our client can not deal with large orders.

This lost opportunity highlights the challenges businesses have in identifying business opportunities and managing limited resources to achieve those opportunities and grow the business. In my client’s situation the opportunity of supplying a large national retailer had not even occurred to them; they were content to work within the local area supplying high quality product to local retailers.

But would they have acted differently if this opportunity had been identified? The answer would have been; it depends. It depends on what the objectives of the business are and whether following this opportunity would have been in line with those objectives.

If the objective is to remain a local supplier of high quality tulips with no desire to expand outside that remit then even if the national retailer made the approach my client could turn them down happy in the knowledge that they had recognised the opportunity but made an informed decision not to enter that sector of the market.

However, if the objective is to expand the business outside the local area and the opportunity to supply a national retailer was identified a strategy is required to reduce the risk of over production yet be able to fulfil the order should it come. My client could not have afforded to run the risk of increasing production without a firm order, but they had no other strategy to fill the order if it materialised.

They could have approached other growers to see if they could help fill the order if it came. This way they could have satisfied the order, started to build a relationship with the buyer and share the revenue with other suppliers. Next year they could increase production and share less with other and therefore start to meet the objective of growing the business.

Capture all opportunities as they arise irrespective of where you are in the business cycle or development plan. If following the opportunity is in line with business objectives plan the next stage. If following the opportunity detracts from business goals either challenge and restate the goals, or set aside the opportunity. It is only a lost opportunity if no action is taken.

Work experience opportunities to enhance your future

Responding to the growing number of talented young graduates looking to secure employment; we are offering unpaid internship placements of between 3-6 months with local businesses and employers.

Successful applicants will be trained and supported in their placement, offered on-the-job training and mentoring opportunities with senior managers. Experience can be gained working within the voluntary and community sector, a private company or with a public sector agency.

ARE YOU ?

• A graduate living in the Sevenoaks district? If you live outside Sevenoaks, you can still apply as long as you are prepared to work for an organisation in the Sevenoaks district.
• Wanting to improve your employability and career prospects?
• Wanting to gain new skills and access training?

Getting an internship is one way of building on the skills you gained at university. It can also give you real life work experience, let you try your hand at a possible career, and prove yourself to a potential employer.

We are working with local businesses and employers to identify and develop internships that represent genuine work experience opportunities to enhance your future prospects.

For full details contact Liz James, Development Officer on: 01732 454785 / 01892 530330 or email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Original Article

Destination Egypt: Discover a new marketplace for your business, free lunchtime presentation hosted by Vanquish Developments in partnership with the UKTI. You may be surprised to learn that Egypt is one of the world's fastest growing markets. Kent based Vanquish Developments has worked on construction projects and created a successful export business in Egypt for more than six years and is about to commence construction of the Palo Verde Raceway and Marina in Sinai. We are now in a position to help other UK companies to break into this exciting marketplace - without the upheaval of relocating. Vanquish has a working partnership with the UKTI and would like to invite you to attend a presentation including lunch at Buckmore Park Race Circuit in Chatham on Tuesday 15 November at 11.00 am. 

At our complimentary presentation you will:

*Find out more about the exciting Palo Verde Raceway development which is a British owned and managed project in Egypt

*Gain an insight into our working partnership with the UKTI and how this could help with your overseas expansion

*Why the Egyptian economy is booming

*Why the revolution in early 2011 is having a positive affect on overseas businesses

*How Vanquish kept working throughout the European and American recession by moving its core activities to Egypt

*Other projects currently being undertaken by Vanquish

*How your business could succeed in Egypt

*How to get your business in Egypt up and running in a matter of weeks by using our tried and tested programme

There is no charge for attending but places are limited.  To book your place or to find out more please contact Katherine Hersey-Meade. Telephone  07974 112203 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .  Visit our website www.vanquishdevelopments.com.