Not Seeing It Yet? How to Identify Hidden Opportunities
Discover opportunities by watching, simplifying, and listening to users
The key to discovering business opportunities lies in a rare skill: recognizing latent demand. But what does that mean? In the world of apps and startups, many entrepreneurs strive to innovate but fail because they don’t understand what people truly want. The issue here isn’t a lack of creativity, but a disconnect from what the market is already seeking.
In fact, many truly innovative products don’t always arise from a revolutionary idea, but from careful observation of the market. I emphasize: that it’s crucial to understand what people really want. But… how do you identify latent demand?
Detecting hidden opportunities requires developing a critical observer mindset:
Observe the market: Are there apps or services that people are already using? What is the core value of these services, and how can it be improved?
Identify complicated processes: If people have to go through a complex process to achieve a benefit, ask yourself… Can that process be simplified?
Ask users: What frustrations or desires do users of these services or apps have?
Recognizing latent demand doesn’t require a revolutionary idea, but the ability to observe, simplify, and listen. Opportunities are out there (waiting to be discovered). Good luck!