When identifying opportunities I look for lack of competition. I also look for lack of organization. Lack of standardized requirements means credibility standards are created by good service providers. Identifying needs that have no service increases the likelihood of success. People have wants. People have needs. People search for solutions for wants. People crave solutions for needs.
Problems that arise from scarcity create situations that demand premiums.
One such problem is the rise of health care. Insurance premiums threaten to rival cost of living. Rent is cheaper in some cities than health care insurance. You must pay your rent every month. You may not get sick every month. The need for health insurance is debated. Often everyday consumers that lack resources must choose between “possible” and “probable” needs.
The probable need is rent payment.
The possible need is health insurance.
It is predicament that government is either unable or unwilling to solve.
Do you know what has occurred in China? Fintech companies in China are offering free enrollment services for Peer to Peer contribution platforms. These platforms are set up to have millions of people pull together for mutual benefit. When large expensive medical bills arrive in your life you submit a request.
Then the entire member base contributes fractions of a penny to fund your expense. You reciprocate by contributing your fractions of pennies. The average cost per member in china is $50 USD per year.
Amazing. The entire population pulls together to make health care obtainable.
The entire United States has failed to solve the solution for three decades. Lack of solutions in the United States informs us how far behind our culture is solving real problems.
Putting aside the moral implications of this situation…I have three words.
Middle Space Market.
Personally, I would love to launch a campaign to broker overseas medical services via a membership platform. How many Americans have heart transplant surgery bills not covered under their health plan? How many people are becoming bankrupt due to pharmaceutical costs?
Imagine offering Americans services to enroll in overseas centers that cover 100% of their bill.
The only requirement is American Members contribute their burden of pennies.
Do you see my point?
Middle Space Markets surface in many different areas. Identifying gaps in markets allow Professional Entrepreneurs to capitalize. The industry of peer to peer sharing is not considered insurance. Despite the difference these new services fulfill the same function as insurance. How many people would join this new American Service for free? How many people would you be able to up-charge the transaction fee on? How many regulators stand between you and doing this new innovative service?
The answers to these questions are all favorable. Time benefit analysis dictates very good cost benefit premiums for this situation. Opportunities are everywhere for Professional Entrepreneurs. Prudently identifying middle space opportunity is the life blood of deal making. I’m a fan of this new middle space market. While I don’t have the time to run a company — I’ll definitely be an investor in one. Find ways to identify your opportunity and go to work. Remember, China is launching this platform. You might just have to capitalize in China. Don’t be gun shy of finding a new place to live to capitalize.
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