Many companies want to find the gap in the market. The gap in the market is a specific area, an area where you can dominate. An area where there are possibilities for someone else to exceed your domination. If a person succeed in finding a niche where they are the only one, it’s great for an entrepreneurial career. But also, it’s also great if a person can find a space where he or she will be a unique player in an established market. The best market is a market where competition is low.
If a businessman or woman analyze a specific market, they can see that most businesses are like other businesses. A business that creates something different, but note that it’s not easy trying to find a remarkable business. So a person needs to prepare themselves for an entrepreneurial career, something that can provide on the market, something that no one else provides until now. It doesn’t matter if it’s a product or service, a person has to differ from other players on the market
1.) Start with Strengths: These are based on competence or knowledge, skills and experience. It’s something a person likes to do, and when doing it, the outputs are amazing compared with other people.
2.) Find a Niche: In the existing market where problems are unsolved, problems are related to a person’s own strengths. How can a niche be found in the existing market with unsolved problems that you can dominate while solving them?
3.) Copy and Improve: Something that can help you to find the gap in the established market is to copy someone else. The idea is to copy something that exists and offer a better, improved solution.
If a person wants to find gaps, he or she would have to do deeper research in a specific area. While researching, it’s best to try to find as much as possible other things that are not so obvious to others. Research the trends related to marketing, sales, supplies, materials, manufacturing processes and so for. All these subjects probably have some gaps ready to be filled.
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