Identifying business opportunities requires a wide knowledge of different fields as opportunities often arise by implementing a proven method into a new field. There are plenty of sources for new business opportunities which are most easily identified by through noticing inefficiencies in markets or a concept that has a proven track record in one industry but has not been implemented into another.
These are some of the most central sources for spotting market opportunities:
- Socio-Economic trends
- Marketing related trends
- Customer base evolution
- Governmental or industry-related regulations
- Partnership changes in suppliers, competitors
- Changes in funding opportunities
The majority of opportunities disguise themselves as problems, which can arise from new technology or products being introduced to a marketplace where the established players have yet to harness those technologies. This is in particular true when it comes to technological innovations that tend to focus on a few cutting-edge industries during the first years of their lifecycles.
Our team has partaken in introducing innovative technologies and processes into various fields of business and will gladly assist you in identifying opportunities related to you business model and field.
We will assist you in identifying opportunities as well preconceptualisation of the product or service you are planning to introduce.