Opportunity-driven Growth:

Discovering Opportunities

Searching for Opportunities

Entrepreneurial Approach to Reinventing Your Business Continuously

By: Vadim Kotelnikov

Founder, Ten3 Business e-Coach – Inspiration and Innovation Unlimited!

 

"In the middle of difficulty lies opportunity."

~ Albert Einstein

More Opportunity Quotes

 

 

Opportunity-driven Business Development Guiding Principles Observing Disruptive People Spotting Trends Mutual Creativity in Business Partnerships Discuss Ideas: Brainstorming Corporate Capabilities Listening to Customers

10 Commandments of Innovation

Creating Competitive Disruption

7 Strategies

  • Find opportunities through understanding trends of change... More

Competitive Strategies: 2 Types

Reframing and Turning Your Problems To Opportunities

Your perception of any problem depends on the position from where you perceive it.

New Product Development (NPD)

Shift To New Approaches: 7 Reasons

  • Designers, not marketers, identify new product opportunities. Traditional marketing tools are good for analyzing existing market ideas. Intuitive thinking, qualitative approach used by designers is very good for imagining new possibilities. Designers identify new product opportunities, create design briefs, conduct market research, develop a platform for further innovations and even brief advertising companies on how to promote the new product... More

5 Strategies for Creating a Culture of Questioning

Seven Sources of Entrepreneurial Opportunities

By Peter Drucker

Internal

  1. The unexpected – the unexpected success, the unexpected failure, the unexpected outside event... More

Trend Spotting Tips

By IDEO – a World Leading Product Design Company

 

"Why?" and "What If?" Questions

Looking From Outside In

By Masaaki Imai5

Understand what's going on in the real world – ask these questions relentlessly:

  1. What's happening in your marketplace?

  2. How the needs are changing?... More

SWOT Analysis

Questions To Answer

  • What trends do you see in your industry?

  • What trends do you foresee?... More

Leadership and Management

10 Lessons from Konosuke Matsushita

  • Bad times have their bright side... More

13 Tips for Transitioning Your Company To a

Lean Enterprise

  • Be opportunistic in identifying opportunities for big financial impacts... More

Turning Failures To Opportunities

3 Steps

  1. Get rid of all negative emotions – and lean: There is no failure, only feedback!... More

5 Things You Should Know To Win

Source: The Art of War by Sun Tzu

You must know five things to win:

Clearly Define Your Search Strategies

Most opportunities are lost because of unfocused search goals and poorly defined (or "fuzzy") search strategies and priorities.

 

Don't waste your their time wading through the volumes of raw or irrelevant information. Focus on two strategic types of information you need to gather, evaluate and apply to your operations:

1. How the situation around you is changing?

2. How well have you prepared yourself for the emerging opportunities?... More

Continuous Process

Unfortunately, most opportunities are lost because of unfocused search goals and "fuzzy" [or poorly defined] research priorities.

Opportunity can and does exist within nearly every situation, event, proceeding, or happening. The search for opportunities is not a one time event. It is continuous and on-going. You must develop your anticipating and entrepreneurial arts and skills to become sensitive to see not only those opportunities which are boldly advertised, but also those hidden under the day to day problems and issues.

Yin and Yang of Entrepreneurial Creativity

Changes – the Source of Opportunities

Mature companies must learn to be young at heart and fast. Executives who recognize that the days of slow change are over, will find boundless new opportunities around them.

The changes creating new opportunities for innovation can be both within the enterprise or industry and outside them. A three-level business intelligence system is thus to be established to collect and analyze information from within the enterprise; industry and market structure; and external sources, such as demographics, changes in perception, and new knowledge. Innovators who want to exploit new knowledge need to apply a careful analysis of the knowledge available and the knowledge needed.

"Change brings opportunity to those who can grasp it, and the discontinuities of the new economy offer unlimited opportunities."6

Yin and Yang of Change Management

Entrepreneurial Approach

"Things work out best for those who make the best of the way the things work out."

Innovation is the specific tool of entrepreneurs. Doing new things, or doing old things in new ways is how entrepreneurs exploit change as an opportunity for a different business or a different service. Entrepreneurs see change as the norm and as healthy; they always search for change, respond to it, and exploit it as an opportunity.

Entrepreneurial Leader: 4 Specific Attributes

Using Strategic Intent to Encourage the Quest for New Opportunities

Strategic intent is senior management's primary motivational tool for radical idea generation. Senior management uses strategic intent to communicate a misfit between current resources and corporate aspirations and motivate idea generation when it actively encourages the quest for new opportunities... More

3 Strategies of Market Leaders

Top 10 Essential Requirements To Be A Great Strategic Thinker

Essential Element #4: You must have an extremely high level of awareness of what is happening around you and be open to absorbing all that you can. In any business, there are clues, often subtle, both internal and external to help guide future direction and to identify opportunities.

 

Great strategic thinkers take all of this in and then they set aside time to think about all the experience and information to guide them in the planning and working on the issues, challenges and opportunities that lie ahead... More

The Power of Your Cross-Functional Excellence

If you build broad cross-functional expertise, no idea will be wasted! Your mind can accept only those ideas that have a frame of reference with your existing knowledge. It rejects everything else. If your knowledge is functionally focused, you'll be open to new ideas related to your functional expertise only and will miss all other learning and innovation opportunities. If you develop a broad cross-functional expertise, no new idea will be wasted. It will immediately connect with the existing knowledge and will inspire you, energize you, and encourage your entrepreneurial creativity. The broader your net is, the more fish you catch... More

Seek the Optimum Balance of Opportunities

The task of a business architect and a process manager is to create systems, within a sensibly structured business, that empowers employees and enables people to achieve higher productivity and greater competitive advantage. In their book, Control Your Destiny or Someone Else Will, an analysis of Jack Welch's GE and a business classic hailed as the unofficial GE Leadership handbook, Noel M. Tichi and Stratford Sherman cite the cause of a plant that makes wire, another that wraps the wire into coils, and a third that assembles the coils into lamps. If these are organized as three separate businesses, each optimizing its own performance, the totality may well not be optimized. Organized as a single unit, however those three plants can seek the optimum balance of opportunities: for instance, making a costlier wire may help to produce a cheaper lamp.

25 Lessons from Jack Welch

The Challenge for Small Enterprises

As young venture is organized around a new product or service meetings of the senior managers focus on problem solving and cash flow and have little or no time for identifying and exploiting opportunities. To overcome this issue dedicate one management meeting a month to looking for opportunities, new ideas, market trends, unexpected successes and competitive actions. Communicate the long-term benefits of investing time in these activities to your team members to ensure their willing and active participation.

Entreprneurial Success: VENTUREPRENEUR (Ten3 Mini-course)

Happiness – It's All in Our Own Hands

When you encounter a problem, try to look for the good points. Everything has at least one good point. Even sickness has its positive side. You get some extra rest or have more time to spend with your family or you use the period of recuperation as an opportunity to turn to dharma... More

 

 Discover much more in the

FULL VERSION of e-Coach

Assess Your Management of Opportunities...

Turning Risks Into Opportunities...

Turning Failures Into Opportunities...

Turning Knowledge into Opportunities...

Take a Different View...

Effective Questioning...

Creative Problem Solving Techniques...

Observe Disruptive People...

Creative Leadership...

Discovering Opportunities...

Evaluating Opportunities: Selected Techniques...

Prototyping – Encouraging Accidental Discoveries...

Competitive Innovation...

Technology Intelligence...

Cross-Pollinate Your Ideas with Others...

Asking Searching Questions...

 

 

 

 

 

References:

  1. "The Practice of Management", by Peter Drucker

  2. " Management: Tasks, Responsibilities, Practices", by Peter Drucker

  3. "The Frontiers of Management", by Peter Drucker

  4. "Managing in Time of Great Change", by Peter Drucker

  5. Kaizen: The Key To Japan's Competitive Success, Masaaki Imai

  6. "Every Business is a Growth Business", Ram Charan and Noel. M. Tichy

  7. "Lateral Thinking", Edward de Bono

  8. Adapted from Sid Parnes

  9. "Lateral Thinking Skills", Paul Sloane

  10. Tichi, Noel and Sherman Stratford, "Control Your Destiny or Someone Else Will"

  11. Innovation Opportunity Quotes

Competitive Strategies

Assess Your Management of Business Opportunities

Strategies of Market Leaders

4 Questions To Ask Yourself

"Why? What If?" Questions

Entrepreneurial Creativity

The Tao of Entrepreneurial Creativity

4 Pillars of Entrepreneurial Creativity

Winning Organization

Guiding Principles To Liberate Employees from the Fear of Trying New Things

Innovation

10 Brainstorming Rules

  Ten3 Mini-Courses

Venturepreneur

Entrepreneurial Leadership