Turn Every Opportunity Into A Business Opportunity

A few months ago I joined a local social club to relax and meet other people in the area. Before long, I had made a few friends, and we would occasionally meet up for dinner to relax and talk about our lives. One of the other members had been hatching a plan to make money off the stock market, and began talking about his ideas. Unfortunately, he had no finance or stock market experience, and I knew from my financial training and past experience that what he was proposing was almost guaranteed to lose money rather then make it. Still, I listened carefully, offered a few suggestions, and mentioned my financial background. Before long, he asked me to join a group he had formed to start this venture. I agreed, and have since been meeting with them regularly.

It may seem backwards to join a venture I am sure will fail. How could such a situation turn profitable? The other members are smart, motivated, and experts in their fields of programming, networking, data mining, and so on. Their downfall is only their lack of financial information, and nothing else. I know that little will come of this venture, but that doesn’t mean these relationships can’t be leveraged into partnerships in the future. If I had simply disregarded my friends ideas as a failure, I never would have met these talented people.

One of the keys to starting a small business without help from venture capital, banks, or your friends and families cash flow is to look for every opportunity, and leverage it. That doesn’t mean you should take the human aspect out of your relationships. I only suggest you might add more into the relationship then just a fun factor where you can.  In fact, some of my most rewarding long term relationships have come about when I have recognized beneficial qualities or skills in another, and they have seen the same in me. Many times, we have called on each other for advice, career counseling, or job leads, and we are each happy to lend a hand where we can.

So how can you start to evaluate every day occurrences for opportunities? Like most things, it starts with looking inside yourself. Getting to know your own strengths and weaknesses (and not the kind that we might state in a job interview, but the real “I’m scared of this thing inside of me so I’ll pretend I know everything and argue with anyone who says differently” kind of weakness). There are three main places to find long term opportunity: The people you interact with, the events you observe around you, and the random everyday happenings of life.

The people you interact with is an easy group to leverage and also the scenario I have spoken about already. The most frequently cited business use of those around you is the complementary skills and mentoring you can receive. I urge you to listen carefully when people around you talk of everyday things – to get a deeper understanding for human nature and emerging trends. Hearing that your best friend will stop shopping at store X may give you a clue that some kind of trend might be starting you hadn’t heard of. Likewise, if your friends are complaining about lacking something, this indicates a need unfulfilled. Perhaps a perfect business opportunity…?

The events you see around you can also be a powerful way to become aware of sudden trends and opportunities. When you do everyday things like going to the grocery store, commuting to work, or watching TV, keep your eyes and ears open. Often, we spend this time lost in the clouds of our mind, and hours could pass without our realizing it (Have you ever driven on autopilot?). You might miss a lot of interesting information that you would otherwise pick up. Keeping your mind alert to everything around you is critical.

Finally, taking advantage of random happenings in your life is one of the best ways to find opportunities you would not normally see. If your car runs out of gas in an unfamiliar place and you stop at a gas station you have never been to before, a chance has arrived for you to see things you have never before seen. As above, keep your eyes and ears open, and never let the unexpected put you in a foul or negative mood, which can blind you to opportunity, and drive strangers away without you realizing it.

In all, what I am really getting down to is awareness. If you are aware of yourself, others, and your surroundings, and open to the possibilities, you will suddenly find life is full of openings waiting for someone to come along and fill them with ideas. All you need to do is pick the one where you will be the happiest.

Now, all you have to do is practice, and watch.

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