Friday, September 22, 2006
With a problem, you look for a solution: with an opportunity, you look for benefits.
The two key things in opportunity assessment are: benefits and feasibility.
There are two sorts of risk in every opportunity: uncertainty about feasibility and uncertainty about benefits.
You can hang back and wait for an opportunity to emerge and then rush in to take advantage of it, but other people will be there too.
The safest sort of opportunity is something already successful that can be copied and made better or cheaper. The market and buying patterns are already in place.
Sometimes an opportunity in the market awaits the development of a concept to turn it into a success.
The simplest form of opportunity is to buy something at less than its value and then to operate or sell it at its true value.
Management and problem-solving are maintenance functions. They are not sufficient in a changing or a competitive world. Conceptual thinking is needed in addition.
There are opportunities that are available to everyone and opportunities that particularly fit your style and resources.