You have, probably, been at a pitch event, or, saw one of these entrepreneur reality shows on TV, where an individual pitched an idea and you were like, “oh! I had that idea sometime ago” and you sank back into a depressed state, asking yourself, why you did not pursue the idea at all.
Around us, are viable business opportunities, but sometimes, it appears difficult to differentiate a good idea from a bad one.
Oftentimes, you wonder, whether to jump head-on, into the opportunity, or, simply, toss it away into thin air.
It is not sufficient to conceive great business idea if you will not pursue it with the mindset of taking responsible actions.
Opportunities abound everywhere, but a number of people do not know how to leverage it.
How, then, do you identify opportunities, when they present themselves to you in subtle ways? Below are some for your consideration:
You Are Engaged With Your Obsession
Trying to come up with lots of different ideas and putting them into actions at once, is a big pitfall for someone, who is trying to have a breakthrough from an idea.
What you ought to do, is to pick up one that, strikes your interest.
Why waste valuable time on an idea that, you are not pretty excited about, so, rather than waste your time, dismiss it, once you do not see yourself making any headway with it, in years to come.
You would surely devote your time and considerable efforts to something you actually love.
When a great idea that you love appears, it is often accompanied by obsession.
This will be the driving force, for you, even, if the idea does not appear promising at the initial stage.
You Are Solving Your Own Problems
You have, probably, faced a delivery challenge, which can be due to poor logistics, or, slow online payment system.
Then, boom, you decided to break into the market by creating a way that addresses the challenge.
This would be more appealing to you, especially, if this particular challenge was in your industry, you would have a comprehension of what it takes.
Ask yourself salient questions that will help you to identify what your potential target audience would be like.
Let your idea be guided by essential loopholes that you have identified in the market.
Having An Unrefined Idea
When you conceive an idea, instantly, there exists thousands of almost similar ideas, conceived at the same moment, by others, the world over, side that, your idea might not, necessarily, be new to the world.
An idea can be regarded, as great, when an already existing and working idea, is made, more efficient, for the convenience of people.
A way to build a viable business idea, is finding an idea already existing and refining it.
You ensure that, it has a demand in the market, which is a good foundation for successful ventures.
You could also protoype your ideas before developing it.
You Have A Niche Market
Are you looking around to see, if there is a niche market that is, currently, being poorly serviced?
You might not, necessarily, have a huge audience at the moment, but with a guaranteed penetration, your product, or, service, will be recognized and be more and acceptable in the future.
Is there a niche market that has not been serviced the way it should be?
You might not have the same size of the audience, but your penetration is guaranteed to be strong, if your product, or, service is sound.
The market is too large to engage everyone. In the process of trying to this, you end up delighting no one, rather, you look out for a small market, create your unique story around it and see it grow.
If you create a good product, in a small niche, word of mouth, will aid your expansion.
You Have Got An Uncommon Advantage
At a point, having an uncommon advantage, would come with its reward, a strong competitive advantage that would allow your idea to stand the test of time.
What is it that, you have at your disposal that, others in your industry lack? It might be a rich knowledge base, expertise, a handful of networks.
With the right mindset and the drive to be a problem-solver, anyone can tap into the world of business opportunities, not yet explored
Featured image: business2community
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