Entrepreneurs that Spotting the Hot Spot are the winners

This is an ever changing economy, in which new scenes and niches constantly emerge. A handful of pioneers jump on it, often purely for fun. One, or maybe a couple of them, figure out a way to turn the idea into a profitable business. Others follow suit, and try to replicate the original idea. Most of them are not successful however. This is a cycle that keeps repeating.

The important thing to note is what distinguishes the successful entrepreneur from all others. Often it is “Spotting the Hot Spot”. That is, they have the ability to spot the right opportunities, at the right time. They have to be careful to not be too early, or too late in entering the market. The key is to look for signals that indicate that an opportunity is arising and keeping an eye out for a combination of two factors– momentum and imperfection.

If we look at a couple of examples, it may become clearer. In the online marketing industry, while today, blog posts are easy to upload and and necessary to direct traffic to your product, it is no longer enough to make you stand out. However podcasts are still complicated to use and not fully developed.

Hence what it takes to be able to spot this unique combination of momentum and perfection is not freakish talent or magical powers but simply the result of learning what to look for and keeping your eyes open.

 

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