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Sometimes, a creative entrepreneur feels scattered and overwhelmed because there are so many things he can do with his business that he can't decide what to do first.  It's almost as if having too many ideas slows him down instead of helping him succeed. He ends up working all hours instead of working at his own pace.

OPPORTUNITIES VS. IDEAS
You discover opportunities when you observe specific trends in your market, and you recognize how these trends create the need for a new product, service or business idea. Opportunities also meet these four criteria:

• It should be attractive to your target market as a solution to their need.
• Your target market should easily recognize that they need your solution right now.
• The basic need you're satisfying is not new-- just updated.
• It should be anchored in a product, service, or business that adds value to your buyer or end user.

Meanwhile, an idea is simply a thought, impression, or notion that may or may not meet your market's needs.

 

HOW DIFFERENT KINDS OF TRENDS PROVIDE OPPORTUNITIES
Here are some examples of how specific trends create opportunities that lead to the establishment of big businesses:

• Due to the economic slowdown, many big firms have to find ways to cut costs. This is a huge business opportunity for firms which offer services which help those big firms to save on expenses, specifically,  the BPOs. This is an example of an Economic Trend opportunity.

• The makers of iPod saw an opportunity in the Social Trend of people having  time-challenged lifestyles. In essence, the iPod was created because people wanted to listen to music while on the go.

• Entire industries are emerging (and disappearing) as a result of Technological Trends. Examples include the computer industry, the Internet, biotechnology, and digital photography.

• Political Trends also create new business opportunities. Laws that protect the environment, for example, have empowered entrepreneurs to start businesses that help other firms comply with environmental laws and regulations.

The fact is that many businesses fail not because the entrepreneurs that started them didn't work hard. They fail because there was no real opportunity to begin with. So before getting too passionate about your business idea, find out if this idea fills a need and can be turned into an opportunity.

Ideas have their own valuable place in your business, of course. But only if you can use them powerfully to leverage your energy.


Aileen Santos is an internationally certified Work-Life ReInvention Coach & A-Ha! Trainer who helps overwhelmed leaders & entrepreneurs achieve "LightBulb Moments" that lead to more balanced lives & greater success in the things that truly matter. Gain more clarity and direction in your own situation by visiting her site at LightBulbOnYourHead.com.