Thursday, January 28, 2010

How to SEIZE An Opportunity?

The first step to become a successful entrepreneur is the ability to see and grab an opportunity! But, how to do that?

1) The Role of Ideas:

Some might think that having such a great and new idea is more than enough to kick-off a successful business. but, as reality is concerned, this is not TRUE. Idea will be an idea, regardless how great it is..Idea is inert..It's your responsibility to keep it alive, so that it would be developed into not only a great idea, but also it can satisfy the market needs.. Only then, you can be a millionaire! I'm listing some very known, yet rarely practiced steps as to generate the most profitable idea:
  • brainstorming
  • try and error
History has proven that getting your ideas evolve is a key to succeed. That's why, many major ventures, such as IBM, are built around different products from what they first envisioned. for record, IBM was then in wire and cable business until they found themselves making millions of dollars each year in computer business..Till then, they were in "try and error" process.

2) The Recognition of Pattern

This is what most experienced entrepreneurs have that keep them making more and more money. The late Herbert Simon, a Nobel laureate, described that the pattern-recognition process is not just a linear process, yet it involves both intuition and induction!

The trick is to see what others can't!

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