Seeing Opportunities

Seeing Opportunities

Entrepreneurial Goggles

The point was that with the goggles, beams could be seen that were invisible to the naked eye. We urged our students to practice developing their own “goggles” for spotting opportunities that might go unnoticed by people who were not paying attention. What we had them do was create a list of the characteristics of a situation that might create a business opportunity. Then each week, the students would share both the list of characteristics and the opportunities these characteristics made them think of. By the end of the semester, the students had a long list of ways to spot opportunities, some of which they could use in the business plans that were required by the end of the course.

Examples of “goggles” could include things like: needs met badly, inefficiencies that could be made more efficient, the capability to transplant a situation from one setting to another, and so on. One that I hadn’t thought about for some time was one we used to call “uneven demand.” That’s when there is strong demand for an asset or solution in one place, but a lack of demand for the same in others.

Rita Gunther McGrath, Finding opportunities others dont see

 

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