To sense an entrepreneurial opportunity, an entrepreneur employs his/her sharpened skills of observation, analysis and synthesis to identify an opening.
The most important factors involved in the process are:
1. Ability to perceive and preserve basic ideas which could be used commercially
2. Ability to harness different sources of information and analyse it to the best possible extent
3. Vision and creativity helps them to convert solution into business opportunity and helps them to move forward overcoming all the obstacles.