Spotting Business Opportunites

One of the many reasons why people are unsuccessful  and it is something that I have harped on about before, is that people become blinkered to their idea and sooner or later it will fall and they will have to find something else. We live in a world where everything changes and develops at such a speed. Sometimes new things have been developed before the old idea has even been realised.

This is something which we have to consider as businessmen too. I say businessmen in the fact that, no matter how big or small you are working on, you are showing and developing skills and mentalities of a business-lie manner and this is something which you have to be aware of. You may only be selling some kit-kats on the school playground but there are still a set of basic principals that you have to follow.

And this is one of them. You have to constantly self-assess yourself, your sales techniques, your products, and the wider market around you. For example, going back to the kit-kat example: It isn't going to be long before the kid over there gets the same idea and starts doing the same stuff as you. and then you have competition. And then you have to think about where you are going to head.

You have to decide whether you think you can move the idea you have onwards and upwards so you become a "market leader" of the playground, or whether you think there is money to be made elsewhere. Now persisting with 1 idea is hard work and not always 100% effective. Sometimes you just don't play your cards exactly right and everything goes down the pan.

My advice is when you get yourself into this position, you need to start thinking about something else. Always have 1 more idea in your mind, so you know there is always something to move to and somewhere to develop. This is a critical part of business. And this is where your 2 categories come in.

Let's take Peter Coates, my local butchers. They are currently in the 4th generation of the family business, about to hand down to the 5th. That is through the persistence and reputation in their area of expertise. The quality of their meat is very good, and the reliability of the sources that they get their meat from are also tremendous. Not only that, but everybody is aware they butchery their meat on their own on-site abattoir and this adds to their established reputation.

However, let's take Alan Sugar on the other hand. Started his life right when the world of audio technology was growing and booming, selling hi-fi equipment. He had that cavalier philosophy of ditching an idea and moving on as soon as he got any competition or opposition. and it was that that lead his busniess to grow, develop and become what it is today.

The difference between the two is the difference between persisting with one idea or moving between ideas and growing upwards all the time. The thing is that hi-fi equipment is not something which is highly skilled to make, it's not a craft like carpentry or stonemasonery, which is where butchery sits. So people are less worries about established reputation and more worried about price and value for money.

You can only make this decision, but my advice to anyone who is selling some bits and pieces small time, would be when it gets tougher, move on. I am not saying move from selling sweets to your mates to selling selling seed treatments to farmers, but just take the other fork at a crossing point.

Follow me on twitter: @peachy146

Recently I've Been...

So me and my friend enjoy watching a certain YouTube gaming channel by the name of YogsCast. Some of you may have heard of them. Well if you haven't then you should have.

Every now and again we have a bit of a chat about it and get all too excited. This instance happened to be on a walk down to the local shop to get a drink. As it usually is to be honest with you. We were chatting and it inspired me to write a post about it. I have to say it is one of my real enjoyments, guiltily, to play Minecraft  A little 8 bit game, with no goals apart from to dig up dirt and other resources and build stuff out of it. It's that simple. But because it is that simple the possibilities are endless.

Now I am a mega-fan of the whole gaining wealth and dreaming about money. Subsequently these kind of games that involve building your riches really appeal to me. So Minecraft is a big tick. Now one of the other games which they have just started playing based on it's latest release is Sim City.

Now this game is amazing. In my personal opinion, I may go as far as to say the best game in the world! It just appeals to me so much. Now upon telling this to my other friend, not the one I went to the shop with, but a different one, he said the only the aliens and zombies are good in SimCity. That's to say he is no longer my friend (joking of course).

I disagree with that strongly. I don't really know what it is about it that I enjoy so much. I think it is the excitement of building such great wealth and power maybe? I really do feel the thrill as you start to imagine all the things you can do and build and buy and go absolutely mental with it.

That kind of thing really fires me up I suppose. Like the idea of a growing business empire. So there I have said it. I have told the internet. I am a materialist pig.

Apart from it's not the thought of what I could spend the money on. The lottery really doesn't fuss me. You could put £1 million in front of me and tell me to go and by myself I really nice house and car. Obviously I would take it and do it, but it would be nowhere near as exciting as if you said here is £1 million pounds. Go and turn it into 10. I think it is the creativity and thought which you have to put into little entrepreneurial things that are really exciting. It's almost as if it is the challenge of making money that is what is exciting.