Problems are a nuisance, sometimes easy to detect and solve, often not. On the other hand, they represent a source of opportunity for entrepreneurs. Discrepancies, deviations from the normal, and failure to meet expectations can reveal the existence of profitable markets that, until that moment, had remained invisible.
From the many who
notice problems, few actually view them as business opportunities.
Complaining is universal, but the talent to devise profitable solutions
Why are entrepreneurial skills present in some people, but not in the rest of the population?
founder, Ray Kroc, is the archetype of the entrepreneur who seized an
opportunity based on facts that were known to hundreds, if not
thousands, of people. Although personal initiative plays an important
role in starting up a new venture, nothing will ever happen if
profitable business opportunities are not perceived in the first place.
entrepreneurial vision to family background is a theory that explains
some entrepreneurial careers, but many others do not follow this
pattern. Business founders and talented managers come from all segments
of society. In my view, entrepreneurial vision is not the result of a
single factor, but a combination of three elements:
Entrepreneurs possess a clear sense of direction
Ambition motivates entrepreneurs more than it drives
other men and women. Pursuing financial, professional, or artistic
achievement with passion creates a constant sense of alertness. Once the
direction is established, deficiencies and irritation do not result in
paralysis, but in accelerated growth.
Entrepreneurs are insatiably curious
Psychological flexibility, more than actual
knowledge, frequently avoids man-made catastrophes. Entrepreneurs
welcome rational criticism and use inputs to grow. They know that their
individual expertise, taken in a global context, is infinitesimal.
Entrepreneurs love to ask questions and are willing to listen. This is
what allows them to detect opportunities that otherwise remain ignored.
Entrepreneurs are quick to seize opportunities
Speed is an essential constituent of efficiency.
In any area of human activity, few are ready to jump immediately from
thought to action, from conception to implementation. One reason why
entrepreneurs achieve more is simply because they try out a wider array
of solutions to a problem. The quicker you are willing to start, the
faster you will discover what to keep and what to discard. Action
increases efficiency, which in turn breeds opportunity.
sense of direction increases an individual's ability to see beyond
irritation, to identify opportunities, and to build profitable
solutions. If you detect a deviation from the standard, ask yourself if
normality should be redefined. Examine discrepancies with curiosity and,
above all, be willing to try out your ideas. If you don't push your
boat away from the pier, you will have nothing to steer.
For more information about rational living and personal development, I refer you to my book The 10 Principles of Rational Living
[Image by Fr Antunes under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]