In order to identify potential opportunities for businesses, it is important to first understand the needs and wants of the target market. This can be done through research, surveys, and focus groups. Once the target market has been identified, it is then important to assess what potential products or services would meet their needs and wants. Once a list of potential opportunities has been compiled, it is important to further research each one in order to determine which are the most viable and have the highest potential for success. This process of identifying and assessing potential opportunities is essential for any business that wants to be successful.