The document identifies various methods for recognizing business opportunities, generating new ideas through creative thinking, and evaluating the feasibility of potential business opportunities. Sources of opportunities include problems, changes, new discoveries, and existing products/services. Creative thinking techniques involve challenging assumptions, thinking backward, being flexible, postponing judgment, using visual maps, and brainstorming alone or in groups. Opportunities can be pursued by starting a new business, buying an existing business, purchasing a franchise, or becoming an inventor. Feasibility is assessed through cost/benefit analysis, opportunity cost analysis, and SWOT analysis.