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November 19, 2004
"Hot" Opportunities
Entrepreneur magazine offers four ideas on how to find or create business opportunities:
1. "Tap the countertrend". This is sort of the contrarian's approach. Everybody else is running to take advantage of the trend. "Consider C&C California, the Los Angeles T-shirt company whose 'classic' T-shirts have struck a chord with women sick of skimpy, midriff-baring tops."
2. "Eat off the big guy's plate". Just think about all of the retail "drop-off" businesses that are popping up like mushrooms after the rain to tag along with e-Bay's success.
3. "Switch the niche". Find a new niche that with a little different approach would respond just as well as the niche that is already working with a product or service.
4. "Borrow a business model". Business models that work in another industry or even a different segment of the same industry can prove to be a great inspiration for new applications.
They also offer their list of "hot" business opportunities for this year, including some ideas for youth and seniors.
Posted November 19, 2004 06:31 AM
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» Smart Trends for 2005 from Business Opportunities Weblog
Entrepreneur magazine noticed four strategies smart entrepreneurs are using: Tap the countertrend. For every trend, there's a potentially lucrative countertrend waiting to be noticed. Eat off the big guys' plate. Trend agency Trendwatching.com coined t... [Read More]
Tracked on November 22, 2004 11:20 PM
at Belmont University in Nashville, Tennessee. He consults with a variety of businesses on start-up and growth related issues, and with larger corporations on re-establishing entrepreneurial cultures within their organizations. Dr. Cornwall's current research interests include entrepreneurial finance and entrepreneurial ethics. He has authored or co-authored four books.
