I blogged a while back about my friend Deborah's opportunity science ideas. Now Dr. Jeff Cornwall says that opportunity recognition is the differentiating factor between successful entrepreneurs and everyone else.
If we look at what differentiates successful entrepreneurs from the unsuccessful ones, the most important craft is opportunity recognition. This is a process that we have learned how to systematize and teach to entrepreneurs.
Entrepreneurs who have the most success are those who are able to find a real niche in the market that offers enough of a margin to meet their needs and aspirations. Successful entrepreneurs understand the importance of "failing on paper." They carefully assess their idea to make certain that it has an adequate market and enough profit margin before they ever launch their venture.
As more and more entrepreneurs are being trained worldwide, it is this one skill, this one technology, that is having the biggest impact on their success.
I should point out that Dr. Cornwall teaches entrepreneurship, and is a former entrepreneur…