How to Identify Business Opportunities

Remember when Netflix was only a DVD-by-mail provider? The founders knew they could do more (and needed to since they were losing money) and approached Blockbuster many times to offer streaming services and absorb their name.

But when they kept declining the offer, Netflix simply created their own streaming service in 2007. In 2013, they started producing their own shows. We know how popular this service is today, but what if they never made the leap?

Business leaders and entrepreneurs should always be searching for ideas that ignite their passion and open doors for business and personal growth. Shifting perspective and opening your mind to creativity helps you capitalize on new demands or needs generated by your client base.

Be adaptive. Look at how technology advances and how the world is communicating and how it will affect you and your business moving forward.

Be innovative. You have ideas; now figure out which ones can be move into the next phase and turn into a plan.

Be resilient. Not everything is going to work. Be prepared for the stuff that sticks and the stuff you need to scrape off.

When you are pushed to think in a new way, like during the time of the pandemic, this is beneficial. You might do something you wouldn’t have done otherwise and that thing could be the next BIG thing.

If you need support in any of these areas, reach out and let’s get you moving.