3 Powerful Ways to Recognize Business Opportunities

Successful business women learn to recognize opportunity quickly. If you want to be successful in business this is one of the traits you will need to foster.  Being ready when opportunity knocks increases your chances of attaining massive business success.  

Opportunities will arise to fill much needed gaps in the market. Being fluid allows your business to take advantage of these openings that could mean the difference between a little bit of success and a huge amount. Either way, you must know what these opportunities look like so that you can snatch them up when you see them. Here are a 3 tips for recognizing an opportunity.

Perfectly Imperfect. 
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One of the earmarks of a good opportunity is that it not always a perfectly hatched plan. A true opportunity that has great potential isn’t going to always be perfect when you encounter it. You’re going to have to do the work to make it into a successful venture. The key thing to look for however, is its potential.  If you can see it becoming a great idea in the future then it might just be the opportunity that you have been looking for.  Just because an idea is imperfect doesn't mean that you discard it completely.

It Is Built on Previously Failed Attempts

Some of the best business ideas are the ones that have evolved over time because they have been honed through past failures. If an idea has been through the furnace of discovery, there is a much greater chance of it working when you decide to recreate it. With these great opportunities for creating success, you don't want to be the first to lead the charge. Take a look at the previously failed attempts for these types of products/services before you decide to offer those in your business. Or, better still take a closer look at how you can create a need out of that failure.  

It Might Be an Off-Spring of What It Was Meant to Be  

Some of the best ideas that have ever been thought of were completely different takes on what a product or service was originally intended for. The idea might’ve been a failure as it was intended but it sparked an entire new thought process and brand-new applications. These accidental inventions ended up being something completely different because someone had the ability to see past the original application. For example, both the slinky and silly putty toys were intended for industrial application. However, they failed as intended and instead became some of the most popular toys ever invented.

The idea here is to stay alert and open-minded when it comes to recognizing opportunities that might take your business to extreme success.

Do you have any tips or information you'd like to share about an opportunity that you recognized and took advantage of that brought your business success? Share with us in the comments section below.