New opportunities are driven by the changing technological, economical, and social conditions on the market. Third and most important for this article, successful ideas are all about timing. This is true for investors and especially true for founders. For example, even if you know that robotics is the next big thing, if you don’t have the market knowledge or technical skillset to add real value towards the solution of the problems in this industry, data shows, you are unlikely to be successful there. Second, the list of viable opportunities you can peruse is limited by your own skills, knowledge, and access to resources. Real business opportunities are to be found in acute problems experienced by a large enough number of people for which the market doesn’t currently offer good solutions.
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