How to? Identify New Opportunities and Solve Problems Creatively

Defining Opportunity?

Opportunity itself means a situation in which it is possible for doing something. In the world of the entrepreneur, it means a relationship of individual aspiration with economic and social conditions perceived as favorable to create new goods or services in an existing or new market.

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“Opportunities are like sunrises, if you wait too long, you miss them” — William Arthur Ward

Strengthening Ability to Identify New Opportunities

Do More Readings

Often, reading books and articles, online journals and magazines, provides a lot of information and knowledge. Also, consider reading the biography of a famous entrepreneur such as Steve Jobs and Bill Gates. Before their success, they faced a lot of problems and failures. Their spirit and commitment to become a successful entrepreneur reminds them to always think positive and never give up.

Bill Gates, founder of Microsoft and Steve Jobs, founder of Apple. Photo: www.methodshop.com

Example: Reading an article about Apple, where they have innovated a product called AirPods. Nowadays, people love listening to music with their wireless earphone, simple and practical, easy to use and carry. Because of that, Apple invented a product called AirPods, a wireless earphone, white colored, 24-hour battery life. Apple enters a new market, make use of this big opportunity to enter the music product market.

Learning Courses and Workshops

It is always a good thing to attend learning courses and workshops. It helps to understand key concepts, hands-on practice, provides tips and tools. Apart from learning the theories, the practices are also important. It benefits us, to know the ups and downs of an entrepreneur, the emotions of an entrepreneur, overcomes every failure.

Learning courses and workshops helps to learn both theories and practices. Photo: http://www.harbourfrontcentre.com

Example: Joining a workshop about how to be a successful entrepreneur helps to have an entrepreneurial mindset and ways to identify new opportunities. It is done by making connections between workshop participants and analyzing the variety of demands in a certain market.

Gain Variety of Experience

Diverse life experiences help to see patterns and parallels across seemingly unrelated fields. These patterns and parallels enable you to identify and grab promising opportunities.

Variety of experiences helps us to see patterns and parallels. Photo: s16315.pcdn.co

Example: An entrepreneur trying to decide how to develop a new wireless networking technology pertaining to a scene in his favorite science fiction novel that involves minuscule devices that achieve a collective intelligence by communicating with each other in a certain way. He conceives of a networking system that works in a similar manner, the system proves a huge success in the marketplace.


Why Use Creative Problem Solving?

Facing challenges is a regular part of working life, and overcoming challenges isn’t always easy. To improve products and services, it is needed to encourage creative thinking and find innovative solutions. Creative Problem Solving divided into divergent and convergent thinking. Divergent thinking is the process of exploration of solutions and possibilities, such as brainstorming. Convergent thinking is an evaluation of those options and choosing the most suitable one.

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Steps of Using Creative Problem Solving Tool

Clarify

Firstly, identify goals and desires. It is easy to assume and could determine the problem. After identifying and understanding the problem, collect the information and develop a clear understanding of it. Then, came up with the obstacles that might be faced and the opportunity that could be present.

Ideate

Exploring ideas, brainstorming and mind maps are a great option to seek ideas. A lot of various ideas will come up while doing these methods.

Develop

It's time to focus on the evaluation of all the possible options and also come up with solutions. Analyze whether the solution meets the needs and criteria. Next step, consider how can it be the best ones.

Implement

After choosing the best solution, it is needed to plan for an action. Starting by identifying resources and actions, it allows implementing the chosen solution.


References

Anon. (n.d.) available from <https://www.experisjobs.us/exp_us/en/career-advice/strengthening-your-ability-to-recognize-opportunities.htm> [24 October 2018]

Anon. (n.d.) Creative Problem Solving Finding Innovative Solutions to Challenges[online]available from <https://www.mindtools.com/pages/article/creative-problem-solving.htm> [24 October 2018]

Anon. (n.d.) Creative Problem Solving [online]available from <http://www.creativeeducationfoundation.org/creative-problem-solving/> [24 October 2018]