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2. How can you identify an opportunity in your community?​

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2. How can you identify an opportunity in your community?​

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FerdinandProfessional · Tutor for 6 years

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Identifying an opportunity in your community involves a systematic process that tends towards trend observation, problem-solving, and competitor analysis.<br /><br />1. Observing Trends: This strategy involves the close study of how consumers in your community interact with various products or services. Conflicts or gaps in customer satisfaction can serve as a guide towards understanding what unique service or product your community needs. This could be accomplished through surveys, focus groups or simple observation.<br /><br />2. Solving A Problem: Often, opportunities are found in problems that have not yet been solved or fully met by the current market. Paying attention to complaints or needs expressed by community members can result in innovative solutions that present viable opportunities. It might be useful to keep an open channel of communication with members of the community to understand their needs or challenges.<br /><br />3. Competitor Analysis: Looking at what competitors lack can also identify unnoticed opportunities. Such analysis allows you to assess the strengths and weaknesses of competitors within your market niche. Visit their outlets, check service delivery, pricing, customer service, among others to gain insights to improve upon.<br /><br />Stay consistent, persistent and proactive in the search for opportunities. Over time, your efforts will yield positive results as you discover untapped opportunities within your community.
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