Written by Nelson & Elizabeth Boandoh-Korkor
Business opportunities are like buses, there’s always another one coming.
~Richard Branson, Founder and Chairman, Virgin Group
Once you have identified what you consider an opportunity and you see one presenting itself, how do you go about seizing it? Well, not all opportunities are worth pursuing (you simply cannot take them all up), so you need to focus on the key ones that would benefit you or your business. If you are seeking to explore some business opportunities, the following five keys may be useful to you:
- TAKE ADVANTAGE OF SMALL OPPORTUNITIES
Don’t give small opportunities a chance! Grab them, because, most often they lead you to the bigger ones. Not all opportunities are created equal, but it is not the size of the opportunity that matters. What you do with that opportunity is what makes all the difference in the end. Therefore, you should never underestimate or discount what an opportunity can do for you. Who knows, a small opportunity here could very well lead to bigger opportunities in the future. You just must be willing and ready to take advantage when the moment arrives.
- NETWORK WITH CREATIVE PEOPLE
Networking with people is a crucial component of business. You can’t do business in isolation! You should therefore focus on networking with the right kinds of people who have the resources, contacts, experience and skills to help you achieve your goals and objectives. Above all, network with creative people — people who think outside the box — who constantly challenge you to think differently about your life, goals, problems and circumstances
- LOOK FOR GAPS IN YOUR COMMUNITY
Gaps are challenges confronting a society. It is these same gaps that people take advantage of to build businesses. Why complain when you can convert these problems into business? One thing is sure about these gaps, they present amazing wealth creation opportunities for entrepreneurs. For instance, if your community has gap in terms of proper disposal of sewage, that could a great opportunity for you to set up a sanitation company.
- LOOK FOR MORE RESPONSIBILITY
Business is work! If you want to seize opportunities, you must be on the lookout for work. Often some young entrepreneurs view business as a money-making venture. Business is about solving problems in society and getting rewarded for it. This mindset is more beneficial than just seeing it as a money-making venture. When you see gaps in society, don’t just count them as one of the major problems that the government needs to work on. Take responsibility to see how you can create business out of it.
- DEVELOP CAPACITY FOR BIGGER OPPORTUNITIES
Entrepreneurs who jump on opportunities without developing the necessary capacity are likely to bite their fingers in the end. It is therefore a wise to cultivate the habit of taking advantages of small opportunities so you can be ready by the time you are faced with bigger ones. In business, capacity always makes a difference. As a start up, you should learn everything you can about your business. Grow it little by little. Remember not every business is good for you. Don’t jump into it because others are doing it. Look for what works for you! Look for what you have the expertise for! Don’t mess up tomorrow’s opportunities by exposing your inadequacies today!
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