. The advice they all had to share was extremely helpful for anyone looking to identify and capitalize on the opportunities they come upon.“The biggest mistake that people do is they sit quietly and try to come up with a lot of different ideas,” shares Feld.
Especially if you’ve worked in a particular industry for a while, you’re going to be one of the best possible test audiences for an idea. Strive to answer questions like:How could your job be done easier, better, faster or more efficiently?3. You Have An Unrefined IdeaMost often, it’s in making something that already exists better, more convenient or more efficient. Wiivv is a great example of a company that did that.
Trainavicius agrees. “If you go for too large of a market when you start, you’ll probably shoot yourself in the foot. What we did was go after a small market that we knew would love our product. Once we had a few on board, they talked to other people—and since they already loved it, we started generating a lot of positive word of mouth. In small niches, if your idea is good, there’s incredible opportunity in word of mouth.
Is your advantage in your knowledge? Your expertise and experience? What about your network? Maybe you've developed technology other people can’t get their hands on, or understand how to replicate. Or perhaps you just have more funding to outspend the competitors.
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