Six Strategies Entrepreneurs Use To Turn Their Business Around


One of the huge advantages of this age of uncertainty are the needs generated by intense competition. The greater the problems the more urgent solutions are needed. You may be familiar with the oft repeated quote by billionaire J. Paul Getty, “Success is finding a need and filling it.” How do you remove the fears of negativity representing themselves as realism? Here are tips used by successful entrepreneurs.

Six chances of discovering a need

  1. Necessity. The cliché is right. Necessity really is the mother of invention. It is amazing how when you are out of work and the bills are coming due you suddenly find opportunities.  The same thing is true when you have a pressing personal need. (You suffer a major illness and need a special diet and yet you can’t find anything on the supermarket shelves that comes even remotely close to tasting good. And so you start creating meals for yourself, and others like you, and all of a sudden you have a thriving company.
  2. Pay attention. That sage, Lawrence Peter (Yogi) Berra, understood this perfectly when he said “You can observe a lot just by watching.” Opportunities are literally everywhere you look. You look out the window and see more and more examples of extreme weather, what kind of opportunities does that create. You walk down the street in one of our big cities and literally see proof we are on our way to becoming a minority majority country. Is there something you can do with that fact? […]

Read full article via Six Ways To Spot An Opportunity That Could Improve Your Business–Or Your Life – Forbes.

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Jim Woods is president of The Jim Woods Group. A management consulting firm. Go here to see his work He advises and speaks to organizations large and small on how to increase top line growth in times of uncertainty and complexity. Some of his speaking and consulting clients include: U.S. Army, MITRE Corporation, Pitney Bowes, Whirlpool, and 3M. See more at his website

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Posted in Entrepreneurs, Entrepreneurship, Leadership, Small Business

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