The Relationship Between Trends & Opportunities

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The Relationship Between Trends & Opportunities

  1. 1. THE RELATIONSHIP BETWEEN PROBLEMS, TRENDS, & OPPORTUNITIES www.profitician.wordpress.com
  2. 2. OPPORTUNITIES LIE IN PROBLEMS & TRENDS <ul><li>Opportunities are primarily dependent on two factors: </li></ul>
  3. 3. OPPORTUNITIES LIE IN PROBLEMS & TRENDS: PROBLEMS
  4. 4. OPPORTUNITIES LIE IN PROBLEMS & TRENDS: TRENDS
  5. 5. <ul><li>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, i.e. the Toyota Prius. </li></ul>PROBLEM-ORIENTATED ENTREPRENEURSHIP
  6. 6. PROBLEM-ORIENTATED ENTREPRENEURSHIP <ul><li>I would include tech-based entrepreneurship within this category, and generally, the bigger the problem the greater the potential pay-off. </li></ul>
  7. 7. TREND-ORIENTATED ENTREPRENEURSHIP <ul><li>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. </li></ul>
  8. 8. CONCLUSION <ul><li>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. </li></ul>

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