By Jeff Cornwall at The Entrepreneur Mind
A question sent to me via e-mail from I.E.:
Most successful businesses, are not based around a revolutionary product or service. Many entrepreneurs that I’ve read about, simply enter a field where a number of competitors are already doing well, but the market demand is growing, and a segment of the market is partially underserved. Can you suggest any way to identify such opportunities? This seems especially hard because most competitors are private, so there is no way to know the level of demand in a particular market.
Someone I know is always trying to figure out the next great product to sell on QVC. But try and try as she may, she probably will never succeed with this strategy. Why? She has never had any experience with developing, manufacturing or selling consumer products.
Most successful entrepreneurs don’t simply “enter a market.”
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