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FIve Point Path for an Opportunity
Well, one who wants to be an entrepreneur, needs to identify in which field he should start his enterprse. Usually, depending on thier education and/or interests, one arrives at a specific branch...like IT, medical, financial, agricultural, educational etc. However, opportunities are plenty in each branch, so do wows when one tries to select one of those opportunities
First of all, one has to identify the opportunities. The following steps help in identifying an opportunity. These steps can be considered as - FIve Point Path for Opportunity (FIPPO)
1. Look into the problems faced by end users (also called as customers).
2. Find out what the market is currently providing to resolve the problems faced by customers.
3. Analyze why those market supplements are failing in completely resolving the problems faced by customers. This helps in identifying the gap between the "need" and "supply".
4. Think what needs to be done to fill the gap.
5. Formulate the solution to fill the gap in resolving the customers' problem.
If you start counting customers' problems, then you will find it easier to count the grains of sand along the Indian coastal line. My intention is tell you that opportunities are abundant in this world. I certainly did not mean that opportunities in a country can be estimated by measuring it's coastal line.
Anyways, going by above FIPPO, whenever you face a problem, then its time for celebration, because, you just landed up hitting an opportunity...Hurray!!
First of all, one has to identify the opportunities. The following steps help in identifying an opportunity. These steps can be considered as - FIve Point Path for Opportunity (FIPPO)
1. Look into the problems faced by end users (also called as customers).
2. Find out what the market is currently providing to resolve the problems faced by customers.
3. Analyze why those market supplements are failing in completely resolving the problems faced by customers. This helps in identifying the gap between the "need" and "supply".
4. Think what needs to be done to fill the gap.
5. Formulate the solution to fill the gap in resolving the customers' problem.
If you start counting customers' problems, then you will find it easier to count the grains of sand along the Indian coastal line. My intention is tell you that opportunities are abundant in this world. I certainly did not mean that opportunities in a country can be estimated by measuring it's coastal line.
Anyways, going by above FIPPO, whenever you face a problem, then its time for celebration, because, you just landed up hitting an opportunity...Hurray!!
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