Finding The Opportunity
Today I had lunch with a good friend of mine who excitedly told me about her business idea. I was literally blown away — she found a market opportunity which is ripe for disruption, huge, lucrative… In a word — she hit the jackpot.
Which made me think about opportunities and how little time people seemingly spend on identifying the right market. Too many entrepreneurs follow the herd and flock into markets which are already saturated just to add one more weakly differentiated product to the mix (photo sharing/filter apps anyone?).
And yet there are tons of markets out there which are untapped, vast and very willing to pay if you just offer them a good solution. Granted: These markets tend not to be sexy. They might not land you a cover story on WIRED. And yet they offer you something much more rewarding: Real customers with a real problem which is actually worth solving.