Every entrepreneur and small business owner must operate with a purpose to achieve success for their company or concept. The next step in the progression is recognizing if there is an opportunity to leverage the new product or service. Identifying the opportunity and exercising the correct timing will make the difference between a successful entry and an immediate failure. Some ideas are fantastic for an industry or market, but if the opportunity to enter the market has closed, the idea is no longer relevant. There are many ways an entrepreneur can recognize an opportunity in the marketplace. Meta-cognition, personal consumerism, problem-solving behavior, active listening, and industry trends are all methods ...
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