BUSINESS: The main thing is to gain experience, or at least some basic familiarity, with many different types of businesses and sectors. When you see a potential business opportunity, if you can rapidly sketch (...)

How does one develop the instinct to detect business opportunities?

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The main thing is to gain experience, or at least some basic familiarity, with many different types of businesses and sectors. When you see a potential business opportunity, if you can rapidly sketch out - in your mind, without doing much research - the probable means of producing/obtaining the product or service, its market and application, and the revenue stream, chances are it will be an idea worth pursuing.