Sunday, July 19, 2009

The Second Step in Finding Hidden Opportunity

This is a continuation of Friday's post, an answer to a reader's question about how to find opportunity when it seems there is none.

The first step, remember, is to acknowledge that clouds really do have silver linings. Economic corrections always bring opportunities to shift wealth. In my July newsletter, I shared a brief story about my violinist/lutier/entrepreneur friend, Chris. He's a total Renaissance man Di Medici style.

What most people don't know about Chris, is that he made money before he migrated to the U.S., while he was a young man in communist Poland. He was part of a popular band which travelled throughout the then-Soviet bloc. And yes he made good money, cash. After a while he decided that he wanted to chuck it all and try making his fortune in a place where you could speak your mind freely (unless you work at a public university, that is.)

So, first you gotta get clear that opportunity is out there.

The second step is to listen carefully to what people are complaining about. This tip I heard from Joe Vitale, who heard it while on Donny Deutch's television show. If you listen carefully to what people are complaining about, and think about it, you can come up with solutions to those complaints. (Don't worry the supply of human complaining is an infinite resource.)

So, if people are complaining that they don't know where to invest their money, you can suggest an investment alternative - maybe your start-up company.

If people are complaining about how unnatural our food is, start an organic garden.

If people are complaining about lousy service, make your service spectacular.

If people are complaining about how badly their children treat them, give a workshop on raising delightful children.

Get it?

It's not an overnight process, but it is a great way to live - looking for hidden opportunities.