“You can only find opportunities if you are looking for them… The opportunity is in the problem. The moment I see a problem, I immediately begin to think about the opportunities that can be created by trying to solve it.”
~Econet Wireless Chairman, Strive Masiyiwa
Below are three things you can do as an entrepreneur in order to spot business opportunities:
- BE IN A STATE OF READINESS
The single most important thing to consider when looking for opportunities is to be in a state-of-readiness for any opportunities that may come your way. You must be constantly on the lookout for anything that could possibly help you achieve your goals and objectives far more quickly, effectively or cheaply. That’s how you must think as an entrepreneur! It also means that you must be open to new perspectives and ideas that could improve your business. The key to this awareness lies within your willingness and ability to ask the right kinds of questions. The more you ask questions, the more curious you will become. As a result, you will focus on the right events, people, things or circumstances that can help you move forward in the best possible way. Are you seeking opportunities that would transform your business? Then, you’ve got to be on the look out for those opportunities!
- SEARCH FOR CLUES
Not all opportunities will be good for you. You need to be search for the clues that will provide the answers to your business. Once you are in the habit of asking questions that help spark your curiosity, it is time to filter through the clues leading you to unique opportunities that present themselves. They can come in many forms and will be very specific to the types of opportunities you are looking for. However, certain types of clues can come in the form of trends, problems that people face or things that they complain about, gaps in the market, and unusual patterns, events or circumstances. All these clues can provide you with an opportunity to do something different, new or unusual. It helps to keep a sketch/ notebook of your random thoughts and observations as you go about your day.
- EXPAND YOUR REACH
In order to improve your ability to spot opportunities further, it is critical that you expand your reach by learning new skills, by regularly networking with people who may be able to support you in your endeavors, and by acquiring new resources that will help expand your life resources list. You can’t remain in your office all day long and expect that opportunities will come your way. You need to step out and do something new that will expose you to those opportunities. You need to, in addition, you will naturally expose yourself to more opportunities by attempting new things.
One of the habits that can expose you to business opportunities is the habit if reading. Successful entrepreneurs are noted for reading magazines and books of all persuasions, and by reading, they have either discovered new ideas for growing their businesses or identified ideas for new businesses. Reading motivational books and business magazines have helped in us identifying viable business concepts. Some people have stumbled upon great business opportunities by reading articles in a business newspaper. Others have found an innovative idea by reading a novel. There are others who even got an idea for business by listening to a pastor preach at church or whiles reading a Christian literature. Look for whatever inspires you with new ideas, it could be books, magazines or even music and flow!
In conclusion, let’s meditate on the words of Strive Masiyiwa:
“You can only find opportunities if you are looking for them… The opportunity is in the problem. The moment I see a problem, I immediately begin to think about the opportunities that can be created by trying to solve it”.
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