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Boosting Your Awareness Quotient

Are you on the hunt for new business opportunities? Check out these well-proven sources.

If you're searching for new ideas that may help you start or grow a business, take a look at the following list. As simplistic as they may seem, these tips and techniques really do work.

  • Read--daily, diversely and voluminously.
  • Surf the Net with your entrepreneurial mind always activated.
  • Avail yourself of group sources--trade associations, trade shows and personal networks.
  • Make inquiries throughout your extended infrastructure--query professionals (lawyers, bankers, etc.), academics, suppliers, government agencies.
  • Seek out recognized leaders in your field--and others--for their advice or reactions to ideas.
  • Study the competition--"market intelligence" is an apt phrase.
  • Keep an eye out for stories of unexpected business outcomes covered in the media.
  • Attend to and note demographic changes.
  • Say abreast of shifting market trends and larger patterns that can be applied elsewhere.
  • Analyze the "problems of the day," especially what folks are griping about.
  • Query people about their unfulfilled wants and needs.
  • "Make a study" of observing (and overhearing) people.

Excerpted from Extreme Entrepreneur: Intelligent Information from the Edge

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