STRATEGY OF CAPTURING BUSINESS OPPORTUNITIES

Perhaps, we often hear there is a saying that goes “This world is full of opportunities and not brimmed with problems”. Well, even God himself has reminded us that in any problematic situations we encounter, there must be a way out and an opportunity given to help us dealing with our life issues. It is this matter actually that we should keep in mind, unless if we tend to look at the situation as a problem rather than as an opportunity. And of course, when trying to establish and run a business, it is something risky and uncertain, particularly if we do not have the proper knowledge of it.

Talking about the law of nature, we have to convince ourselves to believe that everything is possible and will happen no matter what. Just like in a business world when there are times for an entrepreneur to earn his profits and incur losses. There is no guarantee at all that any business venture will always remain profitable due to the fact that risks will always involve in everywhere or everything we do. If we intend to avoid them, let say, then chances are we will be very likely to trigger other potential dilemmas. For this reason, the following explanations could provide some logical answers to the questions of how we deal with a business strategy, which often entails unprecedented consequences when it comes to money earning opportunities as well as bearing the potential loss of income.

1. When a business opportunity experiences profitability, some of the revenue earned must be re-invested accordingly in order to generate the next profit or source of additional revenue. In other words, part of the income generated should be at least allocated as the means of generating more money. Additionally, it is necessary to avoid debt as much as possible and do not simply take any gimmicks for granted because it could end up on the contrary situation where the business would experience fiasco instead.

2. At the time of experiencing the likely loss of business revenue, we tend to have despair in our motivation. This is something very crucial to note down that a failure should be regarded as a teacher or valuable experience so that firstly, we can learn from a variety of errors, trials, temptations, weaknesses and secondly, we can at least avoid factors that may cause the same potential failure or mistake. Therefore, when a business is not progressing as what it is expected, it is suggested that we as business owners should remain composed, strong, resilient, patient, and keep pushing ourselves to work even harder.

Meanwhile, several main causes of failure when capturing business opportunities can be due to as follows:

a. In attempts to seize a business opportunity, a person often behaves like a dropping warm chicken (feeling incredibly motivated at an early stage but in a long period, a person decides to quit and surrender due to a fierce business competition).

b. Often following what has been a business trend around us, or merely following what our close friends do in running their businesses.

c. Lack of dedication and contribution to a businesses that has been established.

d. Lack of planning and poor financial management in which a person is unable to separate financial statement between companies and personal expenses.

e. Poor and lack of disciplines (unable to plan carefully and not applying the knowledge properly).

f. Choosing a wrong business location where there is no access for people to visit.

g. Poor quality of a product sold in a market, lack of endurance, and so on.