Hi Dien!

> Being able to find new business
> opportunities is the foundation stone upon
> which many of the most successful
> entrepreneurs have built their careers....

> This is a very important topic.... It's an
> important foundation of success. I also
> think being able to spot good business
> opportunities makes things more exciting!

This is a VERY important topic. One ALL entrepreneurs SHOULD be interested in.

> Is there interest in this topic?

Yes.

However, most people, while they are interested in it, will probably not participate in a discussion about it.

Nor will they DO my challenge.

Or Simon's challenge (wonder how floating a car above the city with a hot-air balloon would go as far as free publicity goes? Can a hot-air balloon support the weight of a car?).

The Reason Why is the same...

It would require them to THINK - the hardest job there is to do.

Not because they don't want to, but because they've never needed to and have been taught not to.

People, in general, have become used to being spoon-fed whatever they want/need to know.

It's too easy to say, "I don't know" after giving it three seconds thought and then ask for the answer.

After 17 odd years of school where you're handed information, told to memorize it and are tested on how much you've memorized, it's no wonder people are like this.

Having said that, let me say this...

"Opportunities" are everywhere.

"Viable Opportunities", while slightly less abundant, are also everywhere.

"Highly Profitable Viable Opportunities", while less abundant than "Viable Opportunities" are everwhere as well.

The trick is distinguishing between the three types.

An "Opportunity" is simply a chance to sell something (product or service).

A "Viable Opportunity" is one that has some kind of proven saleability.

A "Highly Profitable Viable Opportunity" is one that has some kind of proven saleability AND which also has REPEAT SALES. You mentioned Bras 'n' Things... that fits this perfectly - A Lingerie Only store was going great in the US and none existed in Australia, and, lingerie is a repeat-sale business.

You mentioned Solving Problems...

As far as I know, Jack Russel Terriers are near on impossible to train. So training them is a problem all JRT owners would have. To solve the problem you would create a product which assists the JRT owners in training their dog.

To the best of my knowledge, no specific product like this exists, so it is only an "opportunity".

If it did exist and was selling fairly well in one place, it becomes a "Viable Opportunity"... you sell it in your area.

However, that book does not have repeat sales to the same owner so it is not a "Highly Profitable Viable Opportunity".

As a single sale item you may do quite well out of it. But you'd always be chasing new customers.

There may always be new customers... but you're still always chasing them - spending money on marketing.

The most successful and longest lasting successful entrepreneurs are involved in "Highly Profitable Viable Opportunities" in some way.

If "Highly Profitable Business Opportunities" are your bag baby, the question turns from "How to spot them" to "what do people/businesses regularly/repeatedly spend money on?"

Specifically answering that question will provide a rather extensive list of areas you could get in to.

When I say specific, I mean specific. Don't just say "breakfast cereal" say "Kelloggs Corn Flakes" and so on.

And don't stop there, be specific about what the makers of Kelloggs Corn Flakes spend money on - card board, plastic, etc.

Alternatively, don't make any lists at all. Don't look for problems. Don't do anything except ask, "How can I make money out of this" about every ad, story and article you read or hear. The answer is your opportunity.

Now here's an opportunity...

A book on How To Spot Opportunities. The Idiot's Guide To Spotting Opportunities. Spotting Opportunities For Dummies. ;o)

"How can I make money out of this thread about wanting to know how to spot opportunties?" The answer is in the paragraph above.

Of course, the problem with this last method is

It requires you to think - the hardest job there is to do.

And now we've come full circle. HA!

What do you think?

Michael Ross.