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Focus your energy on opportunities, not ideas

Understanding the difference between a business idea and a business opportunity allows you to leverage your energy.
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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.

[related|post]The good news is that it is possible NOT to get stuck in this phase. To run your own successful business and still lead an incredibly satisfying life, we\\\'d like to share with you a valuable tip for leveraging your energy: Focus on opportunities, not on ideas.
 
 

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.

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