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.


Related Posts

  • 78
    Intressting Jack Dorsey Interview.
    Tags: success, startup
  • 76
    The question of how Uber would spend its billion-dollar investment was never really much of a riddle. More rides in more places has always been the plan. But with its ten-figure cushion, the San Francisco-based ride-hailing startup can be more cunning about how it tries to get huge. Uber wants to grow…
    Tags: success, startup
  • 76
    No one ever said being an entrepreneur would be easy. A million obstacles seem to stand in the way each and every day. The naysayers and budget woes can be enough for the average person to start waving the white flag. But you are not an average person: You’re an entrepreneur.…
    Tags: entrepreneur, business, thing, easy, stand, success, startup
  • 76
    Often, the only way to get ahead is to have a great plan. Which is exactly what makes the companies below so special. It's not just that they're making the big bucks (and they are doing that). This small group of companies from the Inc. 5000 class of 2014 are notable for their…
    Tags: successful, business, success, startup
  • 75
    Source : https://medium.com/i-m-h-o/good-and-bad-reasons-to-become-an-entrepreneur-decf0766de8d Recently we hosted a Q&A at Asana that I participated in with Ben Horowitz, Matt Cohler, and Justin Rosenstein. Marcus Wohlsen from Wired attended and wrote an article that discussed our views on the culture of entrepreneurship in Silicon Valley. This is an important topic, so I want…
    Tags: entrepreneur, time, entrepreneurs, idea, success, startup