3 Tips on How to Spot a Good Opportunity – Be it For Business or Job

3 Tips on How to Spot a Good Opportunity – Be it For Business or Job

Everyone wants to land a good job opportunity – but these things don’t come easy. You cannot wait for job or business opportunity to land on your lap, you have to actively seek out for it.  

Taking the leap into a new opportunity can be scary. Many of us who have lived comfortably with our own jobs/ businesses find it difficult to accept new ideas and approaches. Especially if our previous lifestyles have worked for us all along.  

However, don’t let this deter you. If you have a desire to try something new or change your life for the better, the best time to start is now.  

I had an ex-colleague named Jayden who was satisfied with his job as a fashion writer. He was well-paid and it was his stable job for over 5 years. However, he knew deep inside that he wanted to do more than just being a writer. Being in the fashion industry for several years, he had a passion to contribute to the industry more to the industry than just being a writer. 

Keep in mind that creating a fashion business in Singapore is no easy feat. Yet, Jayden held on to his desire. In 2014-2015, when athleisure and streetwear started trickling their way into Singapore, Jayden knew it was the right time to start the business. Instagram shops were the gateway into the local fashion scene at that time – meaning that everyone had an equal chance at starting a fashion business.  

Knowing the ropes of the fashion industry and having over 5 years of experience came in handy for Jayden. He knew the places to get the best deals and quality materials. He had the industry contacts to make his business go public. He then came up with an affordable streetwear collection and marketed it well on social media to gain attraction.  

Making this switch in careers at that time was scary for Jayden but because he spotted a good opportunity and time, he was able to see some success in his business. In his first launch itself, he sold out of his collection within 2 weeks.   

Jayden’s testimony goes to show the importance of spotting a good business opportunity.  It’s not easy to spot a good opportunity and there is some homework that you must do. In this article, we’ll break down for you 3 tips that will help you in getting the best business/job opportunity.  

1. Have a Sense of Direction  

Check against your own list of needs, what are you looking to do? What opportunities are you looking for and how are you going to get them?  

Business wise, start small, think of necessities. What do people need that is lacking in the market right now? In Jayden’s case he found that there were few local brands that sold affordable, good quality everyday wear at that point in time. He expanded on this idea first, eventually getting a good name in the local fashion scene and then proceeding to expand his clothing line.  

Because he already had a sense of direction in his business, he was able to quickly spot the right time to launch the company.  

Job wise, look at the criteria you want for your work-life. Is there an industry you want to play a role in? Is there a minimum salary you are expecting? Or do you want flexibility in your work? Once you create a checklist on the things you want to achieve, it becomes easier to spot a good job opportunity when it comes by.  

2. Start Networking  

Most of the best opportunities come from networking. Networking provides insights on job openings or business offers that others might be unaware of. You need contacts to get you far.  

If you’ve been a lone wolf so far, don’t worry. Start by getting active on your social media page and follow accounts that inspire you in your job/business. Get connected with people on LinkedIn and Facebook and attend social events that allow you to meet new people.  

In Jayden’s example, his previous career in the fashion industry opened up contacts and created a network for him when the appropriate time arose to create a business. These contacts made it possible for him to market is company well and get the best deals on his products.  

If you’re looking for a job opportunity, following companies and interacting with people in the industry you are looking to join will be advantageous to you. You get to know first-hand when new job openings arise and you get insights into different company cultures, allowing you to be better informed in the job opportunity you wish to proceed with.  

3. Study your Competition  

Being competent is one of the most important skills to have. You must understand the market that you are trying to enter and what the people/businesses around you are already doing. To value add to yourself or your company, you have to bring to the table an idea that stands out from the rest. Studying your competition also means noticing the skills that work for them and adopting them to suit you.  

In Jayden’s case, he knew that his target audience was on social media and that they were interested in streetwear. Capitalizing on this, he added a new element to the table, he made streetwear affordable in Singapore.  

If you’re looking for a job in a particular industry, look at the basic skills needed for the job. Make sure you have these skills and that you are good at it. To value add to yourself, pick up skills that you see a demand for. 

 For example, as a writer, I have picked up several skills related to writing, be it social media writing, copy writing and content creation. A skill that could add value to myself and allow me to ask for a pay increase is if I could pick up design or art skills, in that case, my employer would not need to hire an additional graphic designer. 

Good opportunities come to those that are multi-talented and very aware of the current market trends.  

Stay Connected! Join Our Newsletter

Weekly tips and articles to empower you in landing your dream job!