How can you identify opportunities for entrepreneurship and self-employment?

Look at your life as a video editing timeline, flashback yourself and reflect on your life, note down your strengths and weaknesses! Watch it as it's a movie and criticize on it...and that's how ull find ur strengths

I’ve always found that if you are naturally asked your opinion on a particular professional topic, it generally means that people see you as a subject matter expert in these area. If you enjoy being viewed as this expert in this space it could be something that you leverage to help a wider audience. Think about whether this fills your cup, test an offering in a small sample size and then go from there. It doesn’t have to be a big bang and in fact the little steps will help you iterate along the way!

They always say that you never work a day if you love what you do. You will never love everything about what you do; but what you really love, you will get to know intimately. That intimate knowledge will make you become aware of opportunities. For most of us, we love to do things that play to our strengths. How can those strengths help someone? Start there - what value can you bring to the table?

Knowing your strengths and passions is important, but it is tied together by the change you want to see in the world/industry.

1. Find gaps in the market. 2. Use your skills. 3. Solve problems. 4. Study trends. 5. Know your audience. 6. Network. 7. Embrace tech. 8. Test ideas. 9. Stay flexible. 10. Focus on niches. 11. Seek feedback. 12. Plan long-term.

There is no definite rule on how to become an entrepreneur. Self-employment begins when you are able to identify problems or market needs and develop suitable solutions through products or services.

I like to play into where science and technology are going. Starting a CPG Food brand? Look at where the science of functional eating is going. Want to start a service based business? Look at where Tech is going, and build into where it will be in five years. This isn’t easy. You have to be a bit of a maven here. You have to go deeper than most people are willing to go.

The customer is the key part to any Entrepreneurship venture. Without their input, feedback, and support - even the most novel innovations will not succeed. Get off the laptop and research with real people! Having a network in the space helps, but you're only ever 3 people from knowing someone so ask and you shall receive.

Understanding your customers involves not just listening and observing, but also engaging in research to identify their pain points, needs, preferences, and behaviours. You can use surveys, focus groups, and analysis of market trends and pull it all together to paint the picture.

Research isn't as hard as you may think if you follow some simple processes. 1) Talk to potential customers and ask them what they like and dislike about your competitors. 2) Find out if you can solve the problems of #2 and make them better at a price point that is still profitable. 3) Ensure your audience and market size is big enough and expandable with minimal modifications to your product or service.

A lean canvas is one of the most streamlined ways to summarize your business plan. When you have a one-page view of where the business should be headed, it’s easier to pivot as you test ideas.

Solid advice on generating and testing ideas, but let's not forget the importance of embracing failure as a part of the process. It's crucial to seek the fastest, most cost-effective ways to validate your ideas. But, before diving into idea generation, take a step back. Focus first on identifying a problem – one that you're passionate about solving. Confirm that this problem actually exists and understand how critical it is. Is someone willing to pay for a solution? Are people actively seeking ways to solve it? Only after validating the problem's existence and severity should you move on to brainstorming solutions.

At Momentum3, the Minimum Viable Product (MVP) approach is a key strategy, particularly appealing for its cost-effectiveness from a client's perspective. The MVP isn’t just a prototype; it’s a fully functional unit that delivers real value, akin to releasing the pilot episode of a hit series. It’s equipped with the essential features necessary to engage and satisfy early users, while also providing a solid foundation for future enhancements. Deploying an MVP means clients can test the waters without diving headfirst into the deep end of development costs. It’s a strategic move, allowing them to gauge market response and user feedback with a product that’s functional and ready for enhancements.

When I was starting Career Contessa I launched it as a side-hustle which allowed me time to build, test ideas, host focus groups, get feedback, and more. Too many people launch a product and then try to market it. I think it's better to launch something that helps you build an audience and let them tell you what to build. Plus, you have a built-in testing group this way!

Today's business is world is highly competitive and most ideas/solutions have already been executed. One of the main differentiating factors of a business idea is the "personalization" element of identifying problems/ideas. Ask yourself these questions: -Which problem has bugged/bugs you? - How would you solve it? -Do you have the means/skills to solve it?

There is a pitfall in risk assessment. In your head, all the risks are combined into one big one. In this way, it becomes so big that it paralyzes us. Some risks will be realized, but they can be solved individually.

No business is immune to risks and uncertainties. Develop a risk management plan that outlines potential risks, their likelihood, impact, and strategies for mitigation. This plan should include contingencies for unexpected events, such as economic downturns, natural disasters, or market shifts.

Esse ponto é onde a maioria dos empreendedores hoje no Brasil peca Não fazem um planejamento financeiro, vivem muitos na informalidade, não tem um fluxo de caixa e não separam as finanças pessoais das fianças da empresa. Então estudar sobre gestão é importante para a sustentabilidade do negócio a longo prazo e até mesmo para uma tomada de decisão, pois algumas pessoas saem do CLT para empreender e não se estruturam financeiramente, fazendo com que o negócio feche em menos de 2 anos

Shopping Center Seguem alguns exemplos no gerenciamento de riscos que empreendedores devem ter ao investir: administração/fluxo; marca/franquia; ticket médio. Os riscos de insucesso são enormes quando a administração do shopping não investe em recursos básicos como manutenção, marketing e segurança. Esses pontos são vitais junto ao potencial de compra dos clientes que frequentam o lugar. Avalie se a marca escolhida é aceita no parque circulante onde será explorada. Uma marca conhecida se vende para os clientes. É importante fazer a correlação no fluxo de potenciais compradores do shopping com o ticket médio de venda dos produtos que serão ofertados. Quando o custo do produto é menor, o fluxo de clientes deve ser maior.

In launching my eco-tech venture, assessing resources and risks was crucial. I evaluated costs, potential revenues, and profit margins, focusing on sustainable production methods. I navigated legal and regulatory landscapes, especially concerning environmental standards. Financial planning was key, balancing initial investments with projected earnings. Operational challenges, like supply chain sustainability, and technological advancements were also considered. Risk assessment involved identifying market uncertainties, such as consumer adoption rates and competitor responses. To mitigate these risks, I developed a robust contingency plan.

There is a science to luck. Being in the right place at the right time means you need to be in a lot of places often. And never miss an opportunity to make something happen. It comes down to your willingness, openness and your ability to make connections mentally and socially. Help others get what they want and you can get what you want. It’s not enough to build a network. You have to be useful.

There's a real art to networking and it can be magic! At in-person events, be curious about people and work the room. Try to circulate and meet as many as you can. Always exchange contacts. Swap them straight away over mobile or chat platform. Write down their name so you don't forget it and follow up with an online request or even an email. Sometimes the old-fashioned business card still goes down well. And don't ignore the people who are less outgoing. So many times I've got work from unexpected sources. You never know who might have a brief for you until you speak with them.

Building a strong network is about cultivating meaningful relationships with individuals who can provide support, advice, and opportunities. You have to identify key influencers, potential mentors, and industry leaders who align with your vision and values. Show genuine interest in their work and seek ways to offer value before asking for assistance.

Network is everything - most opportunities do not happen at home. They happen when you get up and about... So get out there ;)

Ter uma boa rede de amigos é uma das principais alavancas de qualquer carreira. Significa colaborar com as pessoas em seus projetos, ouvir suas necessidades e criar oportunidades. Não queira levar vantagem em tudo. A palavra aqui é colaboração. Sua carreira agradece.

Nothing can prepare you for entrepreneurship. You have to have a fire in your belly and a resolve that can’t be broken. All the talk of pivot, iterate, experiment, is just another way of saying you refuse to die. Entrepreneurship is hard, awful, lonely and full of bad news. I for one, wouldn’t want to do anything different. Because at least all those failures are yours. It means you can’t get off the rollercoaster. Yet it’s the most liberating thing you can do. And in all those contrasts lies the magic.

Probably a cliche but this is the most important facet of entrepreneurship. Learn to learn. Everyone knows something you dont know. Give them time of day and learn it for free. Be ready to start over many many times. The goal doesnt change but the path to it will constantly. At Hempstreet, what we started out to solve remains the same but who were are as a company has evolved significantly and so has our path.

In my eco-tech venture, continuous learning and adaptability were essential. Monitoring performance and analyzing customer feedback helped me understand market needs. I remained flexible, ready to refine my approach in response to industry shifts. Embracing experimentation, I iterated my products based on real-world use and feedback. This adaptive strategy not only improved my offerings but also kept me ahead in a competitive, ever-changing market, enhancing customer satisfaction and strengthening my business's position.

You prepare for entrepreneurship by learning....and keep learning. Know people and learn from them. Read. Go to meetings such as Startup Grind, EO, and so on. Or gather up a few other entrepreneurs and start one. You'll be amazed who comes out of the woodwork!

Build resilience, but resist the temptation to frequently change your goals and strategies. Acknowledge the learning process, and provide your initiatives with the essential time and room for optimal growth.

I think the best way to get started is to find your passion and your why first. Understanding what gets you excited and energized is super important. I have launched 3 businesses, 2 have failed and the current ones working. Here’s a simple hack that helped me find what I am interested in: Read alot of books, you don’t need to finish them, but start reading. You will spike your curiosity and it will get your imagination going. Next thing you know, you have found your interests and now you can start building a business or find opportunities in that field.

The best businesses solve problems and if you have a personal tie to this problem then this is a great way to identify an opportunity for entrepreneurship. Is every solution you develop for a problem worth launching a business around? absolutely not. but thinking of creative solutions as potential entrepreneurial endeavors starts to stretch your thinking and shifts your perspective. And when you think youve identified a problem worth solving at scale, reach out to some friends, family, or people on linkedin to see if its truly a problem for others. I also keep a running list of business ideas and 1 page "business plans" as I think of various concepts. I highly suggest this so you can always revisit, build, and edit.

If your business needs you in order to deliver, then, you don't have a business... the business has you. Please craft a business model that relies on your team and your key partners to perform and deliver you profit. If your business has you, it's perhaps a better idea to employ yourself in a big company; it might be better to earn a monthly check instead of dealing with tax, labour, customers, suppliers, banks, competition, and a changing world that it's trying to out run your business.

The difference that made the difference for between failure and success for the 3 businesses i created (1 failed, 1 shut down and 1 is still a success) was very clear! I got a coach and made sure I stayed connected to 5 people who were 5 steps ahead of me.