How do you find your opportunity? How do you locate a solid play for you to earn money? How do you find this play in a landscape that is not saturated with competition? My dad use to say he wanted my little brother to play in a smaller school. My dad wanted a smaller community so my younger brother would be “noticed”. There are many arguments about the best player in a small school versus a good player in the large school.
The saying “Big Fish in a Small Pond” sticks out.
Let me ask you what you prefer.
Do you want to play favorable odds and have a winning record?
Do you want to play against all odds and have a losing record?
You see the game you are playing as an Entrepreneur is not for fun. You are not playing to be awarded trophies. You are not playing your game to be a 1030pm bar discussion about how you performed earlier in the day.
You are not playing at all. You are working. Just like any other profession. You are working to support yourself. You are working to provide for your family. You are working to be financially stable.
With that said.
Do you want to work at a game that has a 5% chance of success?
Do you want to work at a game that has at least a 50/50 chance?
It’s very logical. You want to play a game that has odds that are in your favor. We’ve all flipped a coin to decide who does what. Even though it’s heads versus tails we do it all the time.
Do you know why?
It’s because you win a lot. It’s simple. You can even go on a winning streak. You decide to make decisions with a coin flip because you can deal with the odds. You will win at least half the time. You won’t always be a loser.
That’s what a Middle Space does for you.
A Middle Space is where some person has put enough money into a company to prove a concept (usually 150,000–500,000). The Middle Space Company has sales (albeit not impressive numbers) but the Middle Space Company has yet to reach a mature point. A mature point would be when the company’s product/service is completely dominant or the company accounts for at least a 5% market share. In other words, the people that operate these businesses need help they cannot afford. They are also not “Start Ups”. Start ups are their own animal. Start ups require a completely different skill set to launch. Let’s not confuse the two. Don’t involve yourself in startups as these types of companies will bring you back down to the 5% range. If you are smart enough to spot a company that has a “good thing going” but just lacks some “cash flow” you can offer your help. Your help should be able to increase the cash flow to earn your paycheck. You can usually get “overpaid” for this all the time.
As an Entrepreneur you need to find a Middle Space company in a Market Gap if you want to really bang it up (think +250k for the year). A Market Gap is a market that lacks “Organization”. A Market Gap is a market that does not have an “Established Authority”. Markets that have Market Gaps make it easy for intelligent people to dominate average competition. Think the start of “Waste Management” when garbage collection was done by local guys down the street with a truck. Think “Wal-Mart” when you had to go to 10 different stores in the 1980’s / 1990’s to get what you needed. Think “Yahoo” when the dot com boom was happening in the late 1990’s and doing emails were “new”. Think “Google” when no one was providing a search bar to search the World Wide Web.
You see Entrepreneurs have a keen eye on identifying markets that allow them to enter. Your odds of making it when you are not going up against a fortune 500 company are high. When there is no 100mm USD capitalized company fighting for your customer you are limited by your abilities. You are limited on your ability to make “prudent” decisions.
If you are astute, well read, knowledgeable, professional and have enough resources to “look” the part you can get clients. You can get clients because no one else is paying attention to them. No one else even knows they are clients. When you follow through for your clients and “deliver” you can grow. When you grow you can consistently earn more than 100,000 per year. You can then build a book of business that comes with a “reputation”. Just remember your endeavors (book of business) are an “opportunity”. If you do not evolve with the market you will go “Out of Business”. Too many entrepreneurs fail to learn concepts of business. So they fail.
The primary Market Gap I preach is “Disorganization”. Disorganization occurs when an opportunity surfaces where people are making money but there is no central authority. What this means is anyone who has the ability, drive, and desire to do something can simply do it. There is no great licensing barrier. Even when the opportunity has a license involved there are loop holes that let unlicensed people come in and make money.
As an Entrepreneur you need to earn money consistently. Make sure you are locating opportunities based on higher odds than what the Forbes publishes. According to a 2013 Forbes Article by Eric Wagner 80% of entrepreneurs starting a business fail within the first 18 months. Don’t stake your financial livelihood on a 20% success chance. You will drown before you ever swim.
What is the one question to take away from this article?
“How can I find an opportunity in a Middle Space where the market has a gap?”
Answer the question and watch you make some money. Go get em’ Entrepreneur!
About Christopher: Christopher Knight Lopez is a Professional Entrepreneur. Christopher has opened over 7 businesses in his 14-year career. Christopher’s purpose is to take advantage of various market-driven opportunities. Christopher is a certified Master Project Manager (MPM) and Accredited Financial Analyst (AFA). Christopher previously held his Series 65 securities license. Christopher also has his General Lines — Life, Accident, Health & HMO. Christopher has managed a combined 286mm USD in reported Assets Under Management & Assets Under Advisement. Christopher has work experience in 29 countries, raised over 50mm USD for various businesses, and grossed over 7.5mm in his personal career. Christopher worked in the highly technical industries of: biotechnology, finance, securities, manufacturing, real estate, and residential mortgages. Christopher is a United States Air Force Veteran. Christopher has a passion for family, competitive sports, fishing, martial arts and advocacy for entrepreneurs. Christopher provides self-help classes for up-and-coming entrepreneurs. Christopher’s passion to mentor comes from belief that entrepreneurs need guidance. The world is full of conflicting information about entrepreneur identity. See more at www.christopherklopez.com