Create A Business Opportunity From A Problem

Turn a Problem into a Business Opportunity by creative thinking.

People pay money to create a problem and then somebody else turns that problem into a business opportunity. How do we do this? First step is to examine and define in great detail what exactly the problem is? Then look at innovative ways to turn the problem into a business opportunity.

Problem – We are eating a lot more then we should. Opportunity – exercise classes, weight loss diets, larger size clothes & diet drinks / foods.

Think of traffic, then think of bottlenecks! Problem – a lot of people stuck in traffic. Opportunity – Billboard advertising & more demand for entertainment on the move!

Problem – In this day of high speed life, people don’t have time to sit down and eat. Opportunity – Create a fast food franchise that serves hot food within minutes for customers to take away and eat on the move.

Problem – people are drinking more. Opportunity – diet drinks, drink dispensers, low calorie alcoholic drinks, vitamins, more fun drinks & definitely more counselling!

In our previous business, we had a problem when we were manufacturing specialised, shock absorbing pallets. We always many pieces of a certain size of wood left. I sent our salesman round local businesses to see if he could find a use for it. In the end we ended up making “button-ups” which had a 100% profit margin after expenses for pieces of wood which we used to throw away!

Problem – Higher number of asylum seekers & refugees. Opportunity – low cost housing, lower paid labour force and increased demand for economy products!

Problem – More spam! Opportunity – more demand for new software, better firewalls & more experts needed!

What problems have you faced recently? Can you nail it down and turn it into an opportunity?

Here are the steps we should take to turn a problem into a business opportunity:

1) Identify the problem
2) Do overall market research
3) Get a team in to collectively debate the problem
5) Sleep on it
6) Do some more market research
6) Apply creative thinking and problem solving strategies to identify a business opportunity

Many questions can be answered by market research. What is the current state? Where is the market going? Who are the main players? How do consumers feel about the current solutions to their problems? How can we meet their needs better?

We can turn every challenge into a business opportunity. Every business process can be improved. Every problem is a business opportunity. Every time you have a bright idea, make sure that you write it down in an ideas notebook. Can you solve last weeks problems in a way which people will pay money?

Provide A Solution – Don’t Create A Problem

What effective selling is really all about is effective problem solving. Anyone engaged in any marketing endeavor should focus first on solving problems for clients or customers. If this is done consistently, sales will happen naturally, because customers immediately realize the value that the seller is delivering. This, of course, is the exact opposite of the salesperson or entrepreneur who merely tries to convince the prospect to purchase through force of will, but who doesn’t offer any tangible proof of value.

Solving problems for people creates immediate value. And this fundamental exchange of value is always at the heart of any successful sales transaction. Furthermore, unless both parties perceive this value exchange as being equal, the transaction simply will not take place. All of the talking and salesmanship in the world is not sufficient to convince a prospective buyer of the value exchange. Conversely however, by identifying problems that are causing pain in the prospective buyers life, and then by solving those problems, the flow of sales and new business will be never-ending.

Of course, in order to solve problems you must first be able to identify what those problems are. This is clearly one of the most important traits and skills that a salesperson or Internet marketer can have. By being able to talk to prospects and to clearly identify what their problems are — where the pain is — only then can the entrepreneur go about solving those problems.

After the problems have been identified, the salesperson or entrepreneur must then be able to solve them. If the offerings of the business are consistent with the problems that that prospective customers typically face and provided that the offerings can legitimately solve those problems, transactions will occur regularly. If you want to sell, you need to solve.

Michael W Wyrosdick, is a global marketing & business development entrepreneur. He has been marketing online for over 6 yrs and has written many informational articles, and mentored many entrepreneurs on how to make a legitimate living online. Learn more about him at http://www.michaelwwyrosdick.com

Ways to Build Self-Esteem – 5 Hot Tips You Must Not Avoid to Create Social Success!

Looking for ways to build self-esteem? Or ever question how powerful is self esteem to social or other forms of success in life?

How would you like to find someone who shares your interests, passions, beliefs, ideas, and opinions? Someone who accepts you and respects you for whom you are? Definitely building your self-esteem will much easier with the tremendous support you have from them!

When you’re single, it can be hard to envision a human being out there with whom you can make a true connection. When you have been through relationship after relationship, with no success and even heartbreak in the mix, building up your self-esteem will plunge and finding love can become an unbelievable notion and an impossible feat.

When you talk about how to build self-esteem, whether you are a seasoned pro in the world of dating, a green newbie looking to take your first steps, or a recent single looking to make a fresh start, there’s always that one lingering question on your mind when approaching new love, “What if the man/woman doesn’t like me?”

Truthfully, that question hangs on the mind of every single in America, so it’s safe to say you are not alone. However, that discouraging mindset could keep you from meeting the perfect person right under your nose if you don’t build up your self esteem with effective ways as soon as possible!

The key to overcoming this mindset is to know the right ways to build your self-esteem and confidence, not just for the purpose of finding a mate, but also for the purpose of inner peace and happiness. Self-esteem is crucial to a person’s outlook on life, self-image, and self-worth. How can one love another without loving the reflection in the mirror?

Tip No: 1

Building up self-esteem can seem like a hard task, but it’s actually quite simple. The first step is realizing that you are worth it. What is it you are worthy of, you may ask. Everything! You are worthy of everything that is good and enjoyable in this world.

Tip No: 2

Next recommendation is to figure out what you truly want and convince yourself that it’s attainable. Singles, if you want a wonderful partner who shares your love of books, the beach, or partying till 2 in the morning, you can have that. You deserve that.

Tip No: 3

Besides the above ways to build self esteem tips, you can try open yourself up to those you really trust. Maybe you have a best friend who’s been there for you since grade school. Or maybe your mom is your best friend who gives you great advice. Go to that person and talk with him/her.

Tip No: 4

Lastly, reward yourself for every accomplishment by indulging in something you love. Chocolate cake? A good book? A weekend in Cape May? You decide. This will help to boost your build self-esteem effort!

Tip No: 5

These steps may seem ineffective in building self-esteem and confidence. But the simplest milestones in life can produce big results. Singles who work on increasing their self-esteem are much more likely to find love and sustain that love over a long period of time.

They know they deserve love. They know they are worth it. Take the initiative to complete these milestones on the road to using great ways to build self-esteem and I promise you a better social life and a better shot at true love. Gradually, you will gain a more positive outlook, a more enjoyable life, and an increase in the happiness you undoubtedly deserve.

Jessica Lynn is a recognized authority on the subject of building self-esteem, self-confidence and social anxiety. Her associate website http://www.how-to-improve-self-esteem.com, provide a wealth of FREE informative articles and resources on everything you’ll ever need to know about Ways to Build Self-Esteem.

What Is a Leadership Competency And How Do I Create a Competency Model?

A competency is a skill, ability, or knowledge set that can be taught or developed. All competencies have “indicators” that allow them to be observed and measured. A leadership competency model is a group of competencies linked to leadership excellence in a specific organization. A leadership competency model supports the organization’s vision and strategy by providing a framework by which the organization can select, develop, and evaluate leaders. The LeaderNation system guides users through the creation of a customized competency model and supports leadership development efforts using this model.

There are several ways of creating an organizational leadership competency model. One method is conducting interviews with the leaders of your organization to understand what specific skills, abilities, and knowledge sets are important for success. The interview data should then be analyzed to identify the critical leadership success factors, and ultimately organized into a leadership competency model.

A second method for creating leadership competencies for an organization is to convene a meeting of leaders and discuss the climate, culture, and strategy of the organization. With those considerations in mind, competencies are then created to support the organization’s aspirations.

A third method is to select a set from a list of known leadership competencies related to organizational success. In addition to reflecting on your experience, reviewing industry best practices and research publications can guide this selection. LeaderNation leadership development solutions provide access to a library of leadership competencies from which any number can be chosen to create your organizational competency model.

Regardless of which of the above methods is used to create a competency model, LeaderNation can help. Our tools can be used by internal human resources personnel or in conjunction with leadership development consultants.  If you would like assistance in creating your model, LeaderNation has a network of independent certified consultants that can assist you.

Ultimately, a competency model should become a way of talking about leadership in your organization.  Employees are given a common language and framework to discuss and guide their personal leadership  development as well as leadership in the organization in general.

Ideally, the competency model will influence the way leaders are selected, trained, and evaluated in the organization, so as to set standards and to highlight desired leader behaviors.

 

What are the three steps to creating a competency model?

 

Create lists of behaviors to determine what good leadership looks like in your organization.

This can be done in one of three ways as mentioned above: interviews, strategic planning sessions, or selecting behaviors from competencies known to be important.

Use the following guidelines to group common behaviors and name them. These will be your leadership competencies. Competency names should be as specific as possible. They should also be a noun (e.g., delegation) or a gerund (e.g., listening). Names should be easily understood, so avoid jargon and ambiguous words with more than one meaning.

Use adjectives to clarify ambiguous nouns (e.g., disciplined management).

Finally, define the competencies. Competency definitions, as with competency names, should be unambiguous and specific.  Use complete sentences when writing definitions, and avoid jargon and abbreviations.  Also, a competency should be observable.  Your competency definition should specify the “what” and the “why.”  For example, a definition of active listening should include the what: “Communicating and clarifying understanding, and eliciting information using both active and passive behaviors,” and the why: “In order to engage others, make people feel heard, and gather information.”  Using these parts, active listening would then be defined as “Communicating and clarifying understanding, and eliciting information using both active and passive behaviors, in order to engage others, make people feel heard, and gather information.” If you find the competency you have created is not observable through leader behaviors, it is likely that you have created a meta-competency – a larger pattern of behavior made up of a set of related competencies.

 

Once you have created a competency model for your organization, the next step is to think about systems you can put in place to ensure organizational leaders are supporting the organization’s mission, vision, and strategy through effective use of these competencies.  Four levers to use are selection, assessment, rewards and recognition, and leadership development, an essential tool to support these activities is 360 feedback.  For more information visit www.leadernation.com.

Stress Management Tips At Work to Create Your Own Happiness !

Okay, I hear you! Not another so called stress management course at work where someone can bore me to death! Been there done that. No! This are just some great tips that you can easily apply during your time at work to deal with some of those annoying stressful situations and create some happy moments instead of stress.


Stress in the workplace is very common that most working people have to face day by day. Stress is inevitable at most workplaces so it is there in your face every day! Okay, now instead of complaining about it, lets talk about what we can do about it. The key is to learn how to deal with stress. You can manage your stress at work if you have some stress management techniques up your sleeve. Are you ready ? Lets go!


1. Dealing with colleagues

Unfortunately we do have to deal with colleagues who might not be friendly or worse. Having to be exposed to that this can cause a lot of stress resulting in reduced job performance. There are a few ways to handle this kind this. First of all, decide if it is something that really bothers you or not. Sometimes just ignoring them is all you need to do your job effectively. When ignoring them does not work, you may want to try talking the situation out with them. Sometimes, they may not even know that they are coming across as being rude. Getting it out in the open can resolve a situation like this. If that does not help, you will have to go to your superior and tell them what is going on and that it has been affecting your work. It is then up to your superior to deal with the situation.


2. An unpleasant boss

Maybe it is not a colleague you need to deal with, but an unpleasant boss. Putting up with an unpleasant boss can be very stressful. You will want to try talking with that person first to see if that helps the situation. If that does not work, then you will have to go over their head to someone else and tell them what is going on. Keep a list of the things the boss has said to you that is unreasonable and share it with an senior person in the company. There is no reason to have to put up with this at your workplace. It will cause too much stress for you and make your job performance go down. Most companies will work with you to try to resolve this problem.


3. Huge workload

Having more work than you can handle can make you stressful. Take on only what you can handle at any one time. Ask for help from others and help them when they need it too. A lot of things can be accomplished when working as a team.


Learn what causes your stress at work and find out how to work deal with it. Your workplace can be a stressful environment, but do not let that stress get you down, have some stress busters up your sleeve!

David Stevens is a writer for ImproveYourselfToday.com and a stress management lecturer. Check out our website for more info on how to deal with stress : http://www.ImproveYourselfToday.com