|How does one develop the instinct to detect business opportunities?
I wouldn't say I have instincts, I just take what is right in front of me and take advantage
Sometimes a person can be natural at detecting needs. However, there are people who have experienced a negative situation which awakens their creative juices to flow, thus, a new opportunity is born.
There is no substitute for experience. Expect to succeed but also expect to have to really dig deep and persevere before you get there. Some people are genuinely lucky. I don't think I am one of them, but hard work has a way of making me lucky sometimes.
Become a good listener, listen to what people are telling you. As the saying goes if it is to good to be true it usually is. Any good opportunity is not without risk, so listen to that gut feeling you get and follow it, it is almost always right.
Open your eyes, sharp all your senses and liberate your thinking!
You have to be on the ball and on top of what is happening in your sector. A lot of it is actual instinct. I don't believe that comes naturally to everyone but you can certainly train yourself to identify certain factors that could give you the edge in your industry. It is all very well identifying business opportunities but are you in a position to follow through?
Think thats inborn. Early exposure to challenging business enviroment(s) can mould and stir ones creativity
I don't believe you can develop instinct. You can either choose to do or not do, whatever the present situation may be. Outcome of the choice is the end result, be it positive or negative.
I think knowing what you are good at and what your goals are two ways you can start to detect business opportunities. You will usually find opportunity where you least expect it. Keep and open mind and you might be surprised where your business ends up.
Business opportunities come from determining a "need" and finding a "solution". The key to successful ventures, though, is having all the stakeholders in the right long-term relationship with aligned goals and agendas.
The best deals are win/win for all parties involved. Everyone has to have some "skin in the game", or something at risk in the deal.
Learning how to read people and making sure the deal is set up or structured to be fair and win/win are the key ingredients in my experience.
We all live in the information age, with all the available tools out there, and an ability to look at things with an open mind but yet remain objective. I think that everybody has something to teach, no matter their views, money or job status. So I try to listen to everyone from CEO`s to the girl who sells me my coffee in the morning.
I think experience
By taking chances!
Experience is one way. If you can't wait, try what I do: View the world through the eyes of a child. You will be amazed at the abundant opportunity out there if you just open your eyes.
Trust your intuition. I am getting better at this because the more you pay attention to it, the stronger it grows. Listen to the other party and go with your gut.
Also, if you decide to go with an opportunity, don't half it or decide halfway through to pull out on another business. Finish what you started, go all out.
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