How to find new business opportunities

Whether you are starting a business or have been on the other side of a counter for several years, It is important to identify new opportunities that the market can offer us to enhance our brand.

It’s not about becoming some kind of headhunter or anything like that, it’s about sharpening your entrepreneurial nose to know where, when, how and in what way we can take advantage of a given circumstance or situation.

Sometimes though it’s hard to believe Business opportunities pass us by and we don’t see them. Or maybe we see them, but we don’t know how to use them. This is one of the main characteristics of successful entrepreneurs.

How do you recognize these opportunities?

There’s no one-size-fits-all recipe for this, although there are a number of strategies that can help us sharpen our sense of opportunity. Ultimately it is a question of vision.

1. Recognize unhappy customers. In every market there are customers who are not satisfied with the products or services they consume. A good entrepreneur must know how to recognize them and establish a direct relationship with them in order to find out what causes their dissatisfaction. Similarly, you may find consumers who declare themselves oversupplied, i.e. saturated by the various offerings. In any case, it is important to identify them and try to devise strategies that can cover this level of dissatisfaction.
2. Look for market failures. Sometimes this dissatisfaction comes from the market and not from customer expectations. In this sense, the entrepreneur must research the market thoroughly to try to spot such mistakes and in turn try to correct them. If done right, it can become a distinctive element of your brand.
3. Watch other markets. This is best done when travelling. The mind opens up to new possibilities. That intrapreneurship It consists not only in identifying products and sales strategies, but also in trying to identify the causes that make a product successful or not. The idea is to adapt what you have learned to your own context.
4. Application of new technologies. In an increasingly dynamic world in which the presence of digital media is gaining in importance, it is almost a duty for companies to use such channels or resources to optimize their processes and sales strategies. Social networks, Internet and your own applications (app) are just a few of the many options that are available. Its use is currently synonymous with notoriety, presence, positioning and expandability.
5. Emergence of new target groups. Sometimes, as a result of changes within a society, new sources of consumption emerge. The ideal is to know everything about them: age, profile, characteristics, needs, consumption habits, purchasing power and other factors.
6. Don’t forget regular customers. However, the entrepreneur must never stop caring about regular consumers. Direct and constant contact with them allows us to determine their satisfaction with the product and emerging needs. In addition, regular customers offer the advantage that they have already established a bond with the brand and do not have to invest new resources for access. The idea is to strengthen this bond through trust.

About the author, Ana Calzada

Ana Calzada is a journalist and specialist in communication, social networks and e-learning. For more than a decade he has been running and writing about projects in the online world, both independently and for large companies.