Look back for opportunities

When looking for opportunities to pursue, some people look to find something no one else has ever done. While that is certainly one way to find opportunities, it’s not the only way.

Consider looking at some of the older industries that are now being surpassed by newer technologies. The advantages in doing this includes name recognition, assets you can utilize, cash flow etc.

An example might be the film industry. Eastman Kodak was, at one time, one of the most recognizable companies in the world. Their film was used everywhere and their name was synonymous with the industry. Unfortunately, when the emphasis went to digital photography, they got left behind. Is there an innovative way to take some of their technology, or some of their reach, and utilize it for everyone’s benefit?

Another industry that might be worth looking at is the real estate industry (the way real estate is sold). Slowly, the importance of the realtor is lessening but is there a way to utilize their expertise in a different way?

Look at some of the older industries and see if there is a niche you can step into.

Have a great day!

Lawrence

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