Opportunities, Innovation, and Value Creation

What is opportunities, innovation and value creation? What does it mean exactly? They are not just buzzwords and you can learn more about each of these things and get better at them all.

 

Recognizing Opportunities

You can probably look back over your life and see plenty of missed opportunities, both personal and business. But, how can you get better and knowing when a real opportunity is knocking on your door so that you don’t pass it by?

First, realize that no one is perfect. One opportunity that you pass up may not be the right opportunity for you. Passing by something that someone else turns into a success doesn’t make you a failure, but, you can learn from it. Write down the things you missed, so that next time you’ll get better.

Next, realize that you have to deal with what you have right now, not what you might have later. If you don’t have the funds to see something through, it’s the wrong opportunity for you. Choose something you can succeed at without putting obstacles in your way.

 

Identifying Innovation

 

Keeping abreast of your industry can help you identify innovation. If you purposely search for ideas, innovation and new technologies you’ll learn to identify them in advance. Take notes on your ideas, and then observe if you’re right or not. Over time you’ll learn that you know a lot more than you think.

 

A lot of successful people today missed out on innovation in the past but they did not give up. Thomas Watson, president of IBM in 1943 said that there was a “world market for maybe five computers.” Boy, was he wrong. But did it stop IBM from being a successful business? No – today IBM had a net income of over 14.7 Billion in 2015. That’s pretty successful.

 

So what if you missed out on something that turned out to be successful in the past? Learn from it, and then move on. You can train yourself to recognize innovation with practice.

 

Creating Value

 

This is one of the most important aspects of your job as an entrepreneur. Create value for your audience. If they feel as if you heard them, and you create products and services that matter to them, that you also ensure they know about, you’ll be successful.

 

Finally, the best thing you can do for your entrepreneurial mindset development is to get started. Don’t put it off until everything is perfect. Do what you can to move forward a little bit each and every single day. Read, The Compound Effect by Darren Hardy, the publisher of Success Magazine, and you’ll see that the only thing stopping you is your mindset, not your abilities.

 

 

 

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