Are you a businessman or businesswoman whose business is not moving as you expected? Then, let me ask, what could be the cause? What efforts have you put in place? Do you think you have tried all you thought you should have done to grow higher but it's not working? I'd that is the case, am here to tell you something which, even if you have tried, will find out will find out your fault and what you should have done to elevate both yourself and your business. Let's move...
To succeed in business, you need to identify business opportunities. What do I mean? Let me explain it this way: You need to explore to know the gaps existing in the already existed business or you must need to identify a fresh need for products, goods and services.
To understand what I mean, let me give you a perfect illustration to match this lecture and same time, help you to have a clearer mindset over what business opportunity is all about.
Illustration
A slippers producing company sent 2 of their representatives to market their products in a local community. Each was given 10 pairs of slippers to sell. As the 2 reach the local community, both of them discovered that the people in that village do not wear slippers rather, the walk barefooted.
One of the representative became disappointed. Therefore, he called the office manager and say,
Sir, our coming to this village and community is a great mistake. People here do not wear slippers. Am returning to the office immediately.
Then, the 2nd representative threw a call to office manager and said:
Sir, this is huge. Do you know that people in this community does not wear slippers rather, they do walk around barefooted. Please send me more slippers because, am going to introduce and sell slippers to them all.
Now, among the two, who was able to identify business opportunity? Let's look into their potentials before judging.
First representative
Impatient: He needed to exercise patience do discover the need
Lack of high standard: He has a negative view of the people of the land. From his perspective, those people can't afford to buy slippers and one can't change their barefooted mindset. Actually, he forgot that he can easily impact the knowledge into them.
Lack of determination: Without determination, we're going nowhere in life. Yes, every successful businessman or woman must posseses a handful of determination to succeed in his or her business. His mindset should be on how to convert and convince the people of the land on the need to wear slippers.
Not sociable: If you're not social, business is not for you. Yes, if he's social, he can easily interact with those community members, make them his friends and same time, convince them.
Let's match a brake here. Now, let's give attention to the 2nd representative.
Second representative
Diplomatic: Because of his ability to deal with people tactfully, he believed in his strength.
Patience: The act of convincing people to change their former way of life requires patience. And he is ready to do it.
Predictable: Seeing that people of the land knows nothing about slippers, he predicted for a successful business opportunity
Determined: Instead of going back to office with those products, he was determined to sell and to make wise use of such business opportunity.
Confident: Seeing that the people walks about barefooted, he has the confidence that he can change their view.
Sensible and social: As that community knows nothing about slippers, he sees it as an opportunity to market his goods to them because, it will solve some significant problems in their lives. All he need is to pass the idea to them. And to do so perfectly, he must be social and ready to make them his friends.
Judgement
Looking at their potentials, reactions and business approach, you'll agree with me that the first person failed woefully isn't it? While the second person saw it as a good business opportunity. Hope you too have same view right?
other business strategies
There are things you must consider before chosing a business and they are as follow:
Your talent: Scrutinize yourself to know if you have all it takes to build your targeted business. Yes, each business have it's potential requirements. So if you're not talented with all it takes to build the business, discern another business that rhymes with your potentials.
Passion: What do you have passion for in life? Please, don't join a business because you see people succeeding with such business. Remember, each of us have different passion. Therefore, go for what gives you joy. If you're talented with art, go for artworks, if it's business, go for business and if it's ideas, why not open an office where people can come for advice. See, some can easily give real business ideas but can't do business while others can do businesses successfully once they have a business adviser beside them. So the point Is this, go for what you have passion for. Do not follow the crowd. Else, you'll end up as a looser and then, you'll realize that you have wasted your years, time, energy and resources. Don't say I didn't warn you.
Your mission: Set a mission for yourself and never become a shifting shadow. Eheh, target your set goal and mission. E.g, if you have the goal of becoming a proprietor or proprietress of a school, pursue your goal. Don't give up until you succeed.
Your assets: Before starting a business, carefully check your assets. What's your capital? Do you have any financial support either from government or an inherited asset? Then, focus your assets. Please, don't bite more than you can chew.
Now, to end this business lecture, am going to give you 5 nuggets indicating a good business opportunity and an assignment. Hope you're ready? Let's look into them.
- A good business solves significant problems and creates significant value
- Yields substantial profit
- It must fits your skill and capabilities
- Sustainable and achievable
- Flexible opportunity base on available finance
Practical session
Please, can you give us 3 or 4 ideas that could be turn or transform into business opportunity?