Entrepreneurial Opportunism

by | March 10, 2009

Entrepreneurial thinking is about recognizing opportunity and understanding how tocapitalize on it. Entrepreneurs learn to see opportunity while others stick withwhat?s out there. Learning how to think in an entrepreneurial way allows you to stayone step ahead of your competition, whether it be with your own business or with otheraspects of your life. Everyone has a different perspective on what he or she would finduseful. Learning to think like an entrepreneur means learning to use that uniqueperspective to improve or create products and services for others.

For example, you should remember when you find yourself wanting a product or service,only to find that it is not available to you. Or make a note if you think of a way to dosomething more efficiently. Look around and notice what people want, or what you thinkthey will want in the future.

The sheer number and diversity of people in this country and worldwide mean that thereare multitudes of untapped markets. It just takes a little bit of creativity to reachthem. Don?t be afraid of ideas that seem impractical or odd ? cars, computersand microwaves all seemed like oddball ideas at one time.

Your business idea need not be a completely new product or service. It can be a slightvariation on what already exists in the marketplace. Startups can also flourish by seizing upon existing great concepts that have been poorly managed, and varying operations slightly to correct the mistakes of a competitor.

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