The Relationship Between Trends & Opportunities
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The Relationship Between Trends & Opportunities

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The Relationship Between Trends & Opportunities The Relationship Between Trends & Opportunities Presentation Transcript

  • THE RELATIONSHIP BETWEEN TRENDS & OPPORTUNITIES www.profitician.wordpress.com
  • OPPORTUNITIES LIE IN PROBLEMS & TRENDS
    • Opportunities are primarily dependent on two factors:
  • OPPORTUNITIES LIE IN PROBLEMS & TRENDS: PROBLEMS
  • OPPORTUNITIES LIE IN PROBLEMS & TRENDS: TRENDS
    • Problem-orientated entrepreneurship is pretty straightforward. It’s when a pre-defined problem exists to which the entrepreneur seeks to present a viable solution. For example, let’s take the subject of climate change. From an automotive point of view, a viable short-term solution may exist in hybrid technology.
    PROBLEM-ORIENTATED ENTREPRENEURSHIP
  • PROBLEM-ORIENTATED ENTREPRENEURSHIP
  • PROBLEM-ORIENTATED ENTREPRENEURSHIP
    • I would include tech-based entrepreneurship within this category, and generally, the bigger the problem the greater the potential pay-off.
  • TREND-ORIENTATED ENTREPRENEURSHIP
    • Trend-based entrepreneurship is, simply put, an entrepreneurial response to emerging trends (i.e. the environment, economic downsizing etc.). Examples of such thinking include organic clothing manufacturers and PAYG car clubs.
  • CONCLUSION
    • Both avenues are worth exploring. I’d suggest resources such as TrendWatching.com and Mintel as good places to start. Alternatively, David Rae’s Entrepreneurship to Action book offers a great deal of practical insight into problem-based entrepreneurship.