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Where to Find Opportunity

places to find opportunity for BIGG SuccessEntrepreneurs look for opportunities to create value by solving a problem. A problem people have.

So entrepreneuring, at its essence, is all about people.

Entrepreneuring is what BIGG success is all about.

Only it’s not just an occupation. It’s a mindset.

We’re often asked where to find opportunity. Let’s look at three places where you can look:

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Inefficiencies

Look for inefficiencies. These inefficiencies are often caused by some sort of technological shift.

The first generation creates the inefficiencies. The second generation extends them.

The first generation profits from the technology. The second generation profits on the technology.

So look for places where technology is creating an inefficiency to find your opportunity.

Someone asked us recently if we thought “this whole social media thing” had just about run its course. We, of course, said no way.

Web 2.0 is creating inefficiencies in many established industries. Entrepreneurs capitalize when industry leaders stick their head in the sand.

Regulation

Regulation creates opportunities. This goes two ways.

Deregulation often opens doors that were closed before. And new regulation or re-regulation may create opportunities as well.

For example, here in the U.S., it’s expected that the health care bill may create new opportunities.

And one could argue that the deregulation of the phone company a couple of decades ago has is still driving opportunities today.

Would we have SmartPhones if we had a phone monopoly? You decide, but it’s worth thinking about.

We should add, our purpose here isn’t to argue the costs and benefits of regulation, re-regulation, or deregulation. We’re just saying to look at what’s happening with regulation if you want to find an opportunity.

Demographics

Look for demographical change to find your opportunity.

It could be shifts in genders. For example, the number of women in the workforce has been driving change for some time now. Now you’re starting to see more women in leadership. That will create opportunities.

It could be related to age. The Baby Boomers has created opportunities their whole lives. They are the ultimate bubble.

And now they’re starting to retire. This is creating all sorts of opportunities.

Inefficiencies, regulation, and demographics. What do they have in common?

Change!

Change creates the opportunity which will lead you to BIGG success!

Do you think you see an opportunity but want a second opinion?

Maybe we can help.

Before we go, we’d like to take this opportunity to say “Thanks” for meeting us here today. Until next time, here’s to your BIGG success!

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Direct link to The Bigg Success Show audio file | podcast:
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Shape Shifting Leads to Bigg Success

dog-shape-shifting.jpgLast time, we discussed the two ways to create wealth: other people’s money and other people’s labor (i.e. their time and talent). Historically, there’s been more focus on other people’s money as the lever to riches. Now, other people’s labor holds more promise.

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Today’s show extends that concept and is inspired by one of the characters from the HBO hit series, True Blood. Sam Merlotte, who owns the bar, is a shape-shifter. He can change forms – from human to dog and back.

So here’s a little behind the scenes here at Bigg Success: we often get asked how we get ideas for our shows. We’ve been thinking about this shape-shifting thing for some time as a possible fun topic. Then we saw a Harvard article about a new business strategy.

The words “a shape-shifting enterprise” leapt off the page. Voila … a show was born!

Back to the article – it discusses how many large companies are starting to outsource core activities in order to focus resources on solving customer problems.

The author postulates that the future value of companies will be the sum total of all their arrangements. Let’s emphasis that – using words we use more often here at Bigg Success – the future value of businesses, both large and small, will be in the total value of its relationships.

But a key thing to keep in mind is that businesses don’t have relationships; it’s the people in those businesses who have relationships.

You may have a relationship with a customer who has a problem. How many other customers like this customer have the same problem? With how many do you have relationships?

Once you’ve identified that, who in your network can best solve that problem? By becoming the customer’s go-to person (or company) – by delivering the right product or service at the right time for the right price, you’ll create value for your business.

The Harvard article we talked about references a Fortune article about how Chinese and Indian companies are structuring themselves. The answer: they’re positioning themselves to be shape-shifters!

Shape-shifting is a key for us, as entrepreneurs, to survive and thrive in all economic conditions. It extends well beyond outsourcing. It’s an even deeper relationship, which will create more opportunities for small businesses to work with large companies.

To become a shape-shifter:

Watch your operating leverage. The more fixed costs your business has relative to its total costs, the greater your degree of operating leverage. Just like with financial leverage, higher operating leverage can work against us if things take a downturn.

That’s one of the secrets to being able to be a shape-shifter. If you keep your fixed costs low, you can quickly maneuver your organization to take advantage of opportunities that may present themselves.

Seek out strategic alliances. Explore opportunities to collaborate or joint venture with other people and organizations. The do-it-all-yourself mindset is so yesterday. Focus on what you do best and work with people doing what they do best. This is another key to shape-shifting.

Work with anyone and everyone where it’s mutually beneficial, including your competitors. You may find ways to do more together than either of you can do on your own.

Sometimes you may take the lead; sometimes they may take it. You don’t care. You’re shape-shifting yourself to bigg success!

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We thank you so much for reading our post today. Please join us next time when we’re “getting to know you.” Until then, here’s to your bigg success!

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Direct link to The Bigg Success Show audio file:
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(Image in today's post by wundel)

One Career Path Leads to Another

tutors-on-tv.jpgToday on The Bigg Success Show, we did another installment of Tutors on TV. We love the sound effect so much we had to bring it out again!

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marylynnWho ever said you can’t learn anything from watching television? Today, we’ll pull out a syndicated show. We recently caught the Waterworks episode of The Cosby Show. In this episode, Cliff (played by Bill Cosby) decided to fix the tile in the bathroom.

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georgeWhen I was in the plumbing business, it seemed like just about every time someone called after trying to fix something themselves, it turned out to be more expensive than if they had just called us in the first place!

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Well, that’s exactly what happened! Cliff got in over his head. Clair (Cliff’s wife) and Theo (their son) began calling plumbers (without Cliff’s knowledge). In the midst of it, Sondra (their oldest daughter) called Clair, who filled her in on what was going on.

Sondra told Clair about some friends from college who had their own plumbing business. Cliff was perplexed – why would someone with a good degree from a good college become a plumber?

Jennifer (the head of the crew) said that trying something new isn’t throwing your field away. She went on to give some examples:

  • Gauguin was a stock broker before he became a painter.
  • Sir Arthur Conan Doyle – was a doctor before creating his unforgettable character, Sherlock Holmes.
  • Shirley Chisholm had a Master’s in Elementary Education before she became a Congresswoman.
  • Gandhi studied law before he became … well, Gandhi. 

Is there a profession lying within you just waiting to get out?

For many people, the second time’s a charm. The second career is the one that leads them to bigg success.

So if you find yourself considering a career change, whether voluntarily or involuntarily, here are a few tips:

You are the entrepreneur of your life. One of the things that entrepreneurs understand is that change means opportunity. So don’t resist change, welcome it. Better yet, look for it.

Next, redefine yourself. Bigg success is life on your own terms. Don’t define yourself too narrowly. Broaden your terms to find your bigg opportunity.

For example, if you’re in sales, do you sell tangibles or intangibles? No matter which one it is, there are a lot of occupations and industries to which your skills are transferable.

You’re still going to the same destination. You’re just going to ride in a different vehicle. For example – if you find yourself out of work, think about what you loved about your last job? What were you really good at? Look for those same things in your next career.

Remember that where there’s growth, there’s opportunity. A rising tide lifts all boats, as the saying goes. So look for industries or sectors where the number of jobs is expected to rise in the years ahead. The Bureau of Labor Statistics is a great place to research that.

You may find yourself going through a difficult time. You may find yourself longing for something better.

Think about Gauguin, Sir Arthur Conan Doyle, Shirley Chisholm and Gandhi. They found the second time was a charm.

Take all that you’ve learned about yourself and look for your opportunity for bigg success.

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Thanks so much the gift of your time today. Please join us next time when we think about school days. We’ll ask, “As adults, can we earn extra credit?” Until then, here’s to your BIGG success!

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Direct link to The Bigg Success Show audio file:
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The Bigg Idea Behind Bigg Success

life on your own termsLast time, we introduced the five elements of bigg success – money, time, growth, work and play. Today, we want to talk about the bigg idea behind our definition of bigg success, life on your own terms.

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1 + 1 = 3

We saw an opinion recently that “synergy” is an outdated word. We disagree. When synergy exists, the whole is greater than the sum of the parts.

1 + 1 = 3. It doesn’t work in mathematics, but it does happen in our lives. With the right elements in place, a tiny spark can turn into a full-blown fire.

The bigg idea

That’s the bigg idea behind bigg success – finding ways to sync the five elements so we reach bigg success, life on our own terms, faster than we could otherwise.

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marylynnHere’s a very simple example of how these five elements come together. I want to take a course on CSS to improve my web design skills. That’s growth. It’s going to cost me a little bit of money. It’s also going to cost me quite a bit of time. But this new knowledge will allow me to get more work, which will help me make more money so I can travel more. That’s play! In the short term, it will cost me time but in the long term, it will me save time because I’ll be able to work more efficiently. That’s synergy!

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By thinking about the whole – all five elements together – and working on them all at once, we find solutions that we couldn’t, or at least didn’t, see before.

It empowers you

When you have a choice to make, you can use these five elements holistically to weigh how that choice impacts your vision of bigg success, of life on your own terms.

It empowers you as the entrepreneur of your life.

You can say “No” without guilt! If it’s not moving you closer to the bigg success you dream of, just say no.

You can say “Yes” when you clearly see that it is taking you down the path you want to follow.

Don’t balance, blend your work and life

Our idea goes beyond work – life balance. The old way of thinking was to draw a line in the sand. That was how we tried to separate our personal and professional lives.

It’s great if it works for you. Most people have found this nearly impossible to do in the 21st century. We use technology prodigiously and that technology is live 24 hours a day, seven days a week. We have responded in kind which has placed stress on the idea of work – life balance.

So we moved to integration. Don’t separate the personal and the professional. Keep them both live simultaneously and move seamlessly between the two worlds.

We found this concept helpful, but it doesn’t go far enough. There is little benefit to integration other than giving ourselves permission to not feel guilty if we’re working when we should be playing or playing when we should be working.

So the bigg idea is synergy:

Our two worlds should not only blend, but benefit one another.

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georgeI spoke with an inventor recently about how he discovered his latest idea. He said that he was reading a book for pleasure one weekend. This book sparked a thought that became his bigg invention. He wasn’t reading the book for any reason other than enjoyment, but he also kept his whole being, his whole mind, live. By not turning off his professional side as he read for personal reasons, he discovered his bigg opportunity.

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So as you can see, you don’t have to be in work mode to find something that can help you professionally and you don’t have to be in play mode to find something you might enjoy personally. Keeping our whole person live all the time leads to bigg success.

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The age of interdependence

There’s a final element to this synergy, to what’s running throughout the five elements. Synergy goes beyond just ourselves. The 21st century is the age of interdependence.

We can’t succeed bigg by ourselves. We must build relationships that build value. We add value by doing what we do best while working with others doing what they do best.

There’s the synergy; we create value together through interdependence. When we build together, we reach bigg success faster!

Let’s build bigg success together

So what does life on your own terms mean to you?

What challenges are you facing right now in your quest for bigg success?

How are you using synergy to get to bigg success even faster?

You can share that with us by leaving a comment below, calling us toll free at 888.455.BIGG or sending us an e-mail at bigginfo@biggsuccess.com.

We’ll take the most common challenges and do a show about them. We hope you will share your solutions to these challenges as well. Working together, we can all reach bigg success even faster!

We’ll also highlight how people are living life on their own terms. In these stories are lessons for all of us. So share your story and get in on the fun!

Thank you for reading our post today. Until next time, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

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Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00360-032709.mp3

Related posts

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What’s Hot in 2009: Threats

maple_leaf_foods_logo This week on The Bigg Success Show, we’re taking a look at opportunities and threats in 2009. Today, we continue the five-part series by looking at threats.

We recently posted an article where we shared seven threats facing us in 2009. We’ll discuss two of them today.

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Downturn expected to hit higher and harder

The first threat is the recession. It is now expected to be deeper, longer, and different than any other downturn that we’ve witnessed in our lifetimes. As with any recession, layoffs will be part of the mix.

In the past, layoffs have occurred mostly at the lower end of the career spectrum. What makes this recession different, and the reason we feel it’s important to emphasize this to the members of our community, is that this recession is expected to hit hardest at the upper end.

It was recently suggested in an article on Harvard’s site that this recession be dubbed “The Great Disruption.” It certainly has been disruptive, hasn’t it? It appears that volatility is something we need to get used to going forward.

Moving out is moving up

Another important threat is continued outsourcing. This is also something that we feel may disproportionately affect the people in our community in the coming year.

We’ve already witnessed it, but jobs outside manufacturing are now at risk. It was interesting to see manufacturing start coming back onshore as the price of fuel rose. With the digital revolution, the cost of moving information around the world costs practically nothing. So white-collar jobs may be the most at risk now.

We’ve seen that already with lower skill jobs. Now it seems that some higher level careers may also be at risk. We see two factors in jobs that are safe:

  • an on-site presence is necessary to perform the work
  • face-to-face contact produces better results

The article also mentions a great resource that describes occupations that are and aren’t likely to be moved offshore as well as the other five threats. Check it out!

We like to think positively, but it’s also important to realistically assess those impediments to achieving our goals. We call that positively real thinking … that’s what it takes to succeed bigg!

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We’re really grateful that you took time out of your day to read our post today. Join us next time when we look at some questions which will help you tie the opportunities and threats to the right career or business for you. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00303-010708.mp3

Related posts

What’s Hot in 2009: Careers

What’s Hot in 2009: Businesses

(Image in today's post by MISHA)