Entrepreneurial opportunity exists when consumer demand meets the feasibility of bringing the product or service to market. Schumpeter’s focus on economics led him to categorize potential opportunities based on supply, demand, or changes in how technology is used

Use primary and secondary research to determine whether there is adequate demand, market structure and size, and the needed margins and resources to launch and sustain the enterprise. Joseph Schumpeter, an early scholar of entrepreneurship, identified creative destruction—when innovation is disruptive and creates potential entrepreneurial opportunities.

entrepreneurial opportunity — point at which identifiable consumer demand meets the feasibility of satisfying the requested product or service and meets the following conditions: significant market demand…. creative destruction — theory developed by Joseph Schumpeter stating that entrepreneurial innovation is the disruptive force that creates and sustains economic growth, though in the process, it…. demand — need or desire for the outputs, the product or services. supply — amount of a product or service produced.