How To Find a Business Opportunity
Finding a business opportunity is not like treasure hunting where if you find it, you are already rich. In business, finding an opportunity consists of three steps. It’s like a tripod stand of a camera where if one of the legs is missing, the tripod won’t stand up.
So these three steps are:
- Passion – this is one of the most important aspect of the business to enable you to carry on for the survival of your business. Passion keeps the fire burning which will help you if the business or yourself experiences many challenges. If you set up a business just because you think it will be the next big thing or you are imitating a business from your neighbor but doesn’t have a genuine interest on it, chances are, you will dump it if you encounter many failures and difficulties.
- Market – what good is it if you are really passionate on your business but nobody is buying? Even if you have passion for it but there is no market, then your business will not be profitable. You should look for a business that is marketable and also have your interest on it. You should know how to balance the two in order to succeed.
- Can You Do It ? – Many people will think that this part is not as hard as the two steps I’ve mentioned because naturally, if you have the passion for it, you love to do it right? But the real question is do you have the patience to do it over and over again without sacrificing the quality? Many who started their businesses have passion and love to do their line of business but don’t have the patience and determination. So this part is equally important like passion and market of your business.