How can you seize market opportunities?
My friend is thinking of doing some start-up projects, and she is not sure what to look for. #start-ups #how-do-you-start-a-business #startups #entrepreneurship
<span style="background-color: rgb(253, 253, 253);">See what you are good at it, look for any problems around you and try to find a solution for the end customer/user. Remember you always can shape or thansform existing solutions and adapted to your needs.</span>
I suggest she could consider approach below below :
1. Carefully think about what industry she would like to start on. She can think about something related her hobbies, interest, etc. E.g. if she is interest on fashion, would she consider to design her own clothes, run a boutique, etc.
2. She may identify a few industries that she has interest. Then, she could analyze how the competition on the industry, any entry barrier, any substitute, etc.
3. She can then shortlist the industry that she would like to pursue. I would recommend that she could take some relevant course of that industry to acquire the knowledge.
4. If possible, she can look for opportunities to work in the industry for some time. It can help her to understand the operation model of the industry and also establish people network.
5. She can then consider to start up the business online first if feasible.
Hope this help! Good Luck!