4 Ways to Spot More Business Opportunities Opportunity is not something you wait for, it's something you work for.

By Timothy Sykes

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

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Have you ever heard of the businessman who constantly says he's just waiting for the right opportunity to come along?

Waiting to be inspired means potentially waiting until the end of time. I'm not going to do that and you shouldn't either. Don't wait for the opportunity go find the opportunity, whether it's a trading opportunity or a simple small business opportunity. These are the four ways I spot brand new opportunities in business.

Related: Richard Branson: How to Spot an Opportunity

1. Get a sense of direction.

Trying to find an opportunity is just a general term that people use. I like to call it shifting responsibility. You should be taking control of the situation, and the only way to do this is by adopting a sense of direction. Which opportunities are you looking for and how are you going to find them?

Write down what you want to achieve. This will motivate you and set you on a course that will inevitably open more doors.

Related: 13 Quotes from Today's Most Successful Leaders on Opportunity and Getting Started

Collaboration and networking

You may prefer to be a lone wolf, but in business this isn't going to get you very far. The fact is you have to network and collaborate because other people have a lot of great ideas. Use those great ideas to propel you to greater heights.

Go out of your way to attend events and network. Set aside some time every day to network on social media platforms like LinkedIn. Build those relationships. Remember, the only way you can start to collaborate is through networking first.

Related: 12 Realistic Ways to Make Your First $1 Million

Find a mentor.

A mentor is someone who's already achieved more than you. Don't get jealous seek them out. I've always believed that a mentor is the key to getting better and it's the key to finding brand new opportunities. These are the people who can help you achieve more.

But you have to be willing to humble yourself so you can seek out the help of someone else. Be willing to admit that you don't know it all, even if it's tough. Mentors are important. They're there to motivate. They're there to inspire. They're there to take you to new heights.

Related: 32 Proven Ways to Make Money Fast

Be reliable.

Why would reliability have anything to do with finding opportunities? In many ways, reliability is the key that opens every door. It's one of the big traits you should adopt. When you start flaking out people don't want to work with you. When you break someone's trust they're not going to want to share or collaborate with you.

Related: 12 Lessons You Learn or Regret Forever

Last word: Opportunities can pop out.

Opportunities can appear anywhere at any time. But it's a myth that opportunities just pop out of nowhere with no warning. The biggest businessmen in the world worked to make those opportunities happen. However, don't start patting yourself on the back because you found an opportunity. Take advantage of it.

I believe that unveiling opportunities is only the first step. It's not a time to rest on your successes.

Timothy Sykes

Entrepreneur and Penny Stock Expert

Timothy Sykes is an entrepreneur and a penny stock expert, trader and advocate. He has been featured on CNN, Fox News, CNBC and more. Watch his media appearances and speeches on Youtube here.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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