Ways to find new business opportunities

In this you’ll find a few ideas on how to find new business opportunities.

 

The ability to find and take advantage of opportunities in business and in life in general is among the set of traits anyone who desires to have any degree of success should strive to possess. The better you are at finding business opportunities the more likely you are achieve what you want to achieve, as the motivational speaker Jim Rohn would say : “it’s the law of averages!”. This is assuming that not all opportunities will result in success, but the simple fact that you get some, increase the odds that from the ones you get, one or two will be a success. A string of failures makes us more prone or likely to be blessed with a success in the same way that a string of wins makes us more likely to fail.

Ways to find new business opportunities

There are many things one can do in order to find new business opportunities. The problem is that from all those things, when we do eventually do something that helps us get what we want, we tend to forget, or not pay attention to what that thing might be. Below are a few of them.

 

1. Become a more attractive person

The most important thing you and I can do to attract more good things to our lives in general is to become attractive people ourselves. Just like in dating, the math is simple: attractive people attract more people. We can complain of how unfair that might be, but the truth is that this is just one of those things we can’t change. Notice that attractiveness is a fluid word, meaning that it means different things in different settings/contexts. So, the first step in becoming a more attractive person is to find out what is considered attractive for your target audience. In business for example, attractiveness engulfs the traits such as hard work, motivation, knowledge, experience, creativity, etc.

Be more valuable

Being more valuable is in part what becoming more attractive is about. In business, and in life in general, the more valuable you are to the people around you, the more attractive you become. Here is where your grasp or mastery of specific subjects might be at play. You can become more valuable by simply knowing more things, and oddly enough, this can be achieved with as little as one book a month. In fact, when asked what kind of super power would he love to have if possible, the famous investor Warren Buffet, answered that he would like to be the fastest reader in the planet. Research has shown that in general, successful people read on average 6 books every month, which doesn’t necessarily mean that you can read your way into success, but that this is certainly a factor of their success. The next thing is that you can be more valuable by also being more helpful.


We life in a time in which politeness and helpfulness for the sake of it are becoming more and more uncommon. For some reason the new generations came to the conclusion that those values are things of the past, and instead what became more valuable became the tendency to be more confident for the sake of being confident, as well as the unwillingness to do something for nothing. The problem with the latter is that it applies to everyone. In the field of computer networks there is an idea called “altruistic unchocking” in file sharing. Where a computer randomly sends bits of a file to a computer it’s not currently trading with, with the hopes of starting a new trading relationship. The reason why this happens is that the whole system is based on altruism, the so called “tit-for-tat”, where they only share information with the computers that gave them something in the past. The same happens with human beings. The whole system is based on altruism, in fact, we, as humans have a bias towards reciprocity,caled reciprocity bias, where in essence we feel the urge to give back to the ones who gave to us. When we give, the ones who receive feel the urge to give back in return.

The point here is that if you want to be a more valuable to person, you can do so by being more helpful. The two reasons for this are that: 1) Helpful people are becoming less and less common, and 2) We are wired to give back to the ones who give to us(“Reciprocity bias”).

Be more likable

Another thing you can do is to become a more likable person. A part of what makes likable people likable is their ability to be valuable to us without genuinely expecting anything in return. I’m sure you’ve met a person or two in your lifetime, who was willing to help you for nothing in return. Maybe you’re that person, and if you don’t know, small gestures of helpfulness can literally make the day more enjoyable for most people, and the ones who make our days more enjoyable are more likely to be liked by us.


Another thing you can do is to learn how to listen. We live in a time in which people get easily bored, and where the one thing that keeps them engaged for more than a few minutes in a conversation apart from the social media is themselves. As mentioned on the book The art of Seduction by Robert Greene: ” Talk to a man about himself, and he will listen for hours”. The idea here is to shift roles, instead of being the one trying to impress, become the one who genuinely wants to listen and understand the person on the other side of the table. Patiently listen to their stories, and sorrows, and you are more likely to make part of their “Like” list. There is one extra benefit you can reap from listening in business, and this is that increases the odds that you will find some uncovered pain that you might be able to build a business around. When we pitch an idea, one of the most common questions are: “did you interview potential costumers on your idea?”, as a way of knowing whether people actually want what you have to offer. You can apply the same idea the other way around, as a way of finding potential pains not yet solved by the available products/ services in the market. You can literary go in without an idea of what to build a business on, and come out with 3 or 4 potential candidates.

Be more resourceful

Resourcefulness is unlike what we think, the kind of thing that one cultivates, and builds over time. Resourcefulness just like attractiveness is a fluid word, meaning that it takes different meanings in different settings. A resourceful person is as mentioned on the book Relentless by Tim Grover: “when they press that ”in case of emergency button.”, they are looking for you” kind of person. According to the book in order to become that person you have to be a master on your field of expertise, and in addition to that also having the guts to deal in extreme situations with calm.


You can also be more resourceful by your ability to link people to each other. This point was set in the book The art of seduction by Robert Greene, where the advice was about the idea that one can attract people more easily if he or she is able to make their lives better by connecting them to people who can somehow make their lives better. The author mentioned that most of the time we are surrounded by people who are good at making promises and never come through, so that person who promises and makes it happen is looked at highly by the people around her. This kind of people become in other words indispensable to their peers.

2. Network

This one is for sure one of the few pieces of advice I heard so many times with disbelief, until the time I unintentionally implemented and saw the results. Just like a skeptic who sees a sign of divine intervention in the first person, I have become a believer. The reason why I didn’t take it seriously, is for my tendency to discredit pretty much anything I hear from the masses. Most people just repeat what they heard from other people just for the sake of sounding smarter to their peers, without neither pondering what they heard, nor experiencing it in the first person.

I’m sure you’ve also heard of the importance of networking as a way to meet new people who can do something for your business. This is true, but from what I’ve learned, this is not the whole picture. By networking, you not only increase the odds that you meet that one person who can fund your idea, or link you to someone who can, but also get crucial feedback from experienced entrepreneurs with regard to your idea. The thing about pitching an idea to our peers, specially if they don’t have a background in business, is that we are likely to get one of two reactions: the first is total discouragement, or complete approval. Both of which rarely constitute good feedback to anything. As the investor Tai Lopez said once: “It’s not black and white”. In pretty much anything there are always two sides to the coin, and for this one, experienced people who don’t have a relationship with you are the ones who can give the most accurate answers.


I know this might sound that this is not a business opportunity gainer, but there is much more into it. By getting feedback with experienced entrepreneurs you are not only likely to get accurate feedback to a potential idea, but also potential pivoting ideas from the original idea. As I once learned in an innovation and entrepreneurship class, often are the cases in which your first idea for a product, service or business is not the one you end up sticking to. From your first idea, new horizons and fresh concepts can be created, and there is usually no one better than experienced entrepreneurs to help you do just that.

 

3. Do something

Business opportunities just like anything else in life rarely fall in our hands without any effort. In order to find new business opportunities you must be actively looking for them. I know this sounds simplistic, but that what’s all about in the end of the day. We are led to believe that the business idea, or even the career we are “destined” to have will magically materialize before our eyes. The problem is that if you rely on “fate” to give you what you want, you’re likely to wait a very long time. Just like with dating, and the idea that we all have a soul mate and that when it’s meant to be we’ll find them, you greatly increase your odds of finding “the one” but actively looking for him/her.

In doing something there are a few things you can do. One as mentioned above is to look for the opportunities you’d like to have. The other is to improve yourself. Just like the first, the latter is rarely brought up when the subject is opportunity seeking or achievement. As Jim Rohn taught in his numerous tapes, in order to be more attractive to the market you have to increase your value, and as he once said: “work harder in yourself than you do in your work”. The hardest way to get the raise you want, and the opportunities you seek is to be the kind of person who is sought-for when people are on the look for valuable people.


The third is building your reputation. So, there is the need to build your skills and knowledge base, and right after follows your reputation. Be known for something great. By improving your skills and adding up to the amount you know, you do a part of this “build your reputation” thing, but those alone are not enough. You also have to cultivate and live by the kinds of values the kinds of opportunities you want require. In business this means the ability and willingness to work extra hours, take responsibility for what’s thrown at you, and the desire to offer value. The latter is what has been hyped up greatly by the media, and still one of the great truths of business to live by.

Summary

Business opportunities just like business ideas are everywhere, and it all depends on your mentality to tell whether you’ll be able to see them or not. The abundance mindset is more than just a way of thinking about life, but also, in business, a mind opener. If you believe that markets are all saturated, and that there is little to no opportunities out there to be explored, chances are that’s what you’ll see.

 

It is all about knowledge and experience 😉

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