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Is there a market to start a company?

Ensure there is a market, recognise opportunities and plant seeds in fertile ground.

Entrepreneurs understand customer needs and market demand

Entrepreneurs are the first to recognise customer needs, which are evidence of a demand. Branding is a competitive strategy to enhance a demand and business innovation is the process to meet that demand. The public needs offerings and society requires someone to satisfy these needs. People may have unknown, unfulfilled needs that constitute a future consumer demand.

Predicting future demand is about anticipating a future made possible by the effect of changes. You can recognise that market changes have already taken place through people’s actions. The demand for entrepreneurs to fulfil people’s needs is always there. Entrepreneurs introduce new knowledge into the economy and create demand where it did not exist previously.

A start-up is the founder’s sense of demand for a certain service, product or organisation. In many cases, entrepreneurs build demand by introducing new offers to the market.

Entrepreneurs find business opportunities

The opportunity needed to start a company is an attitude – the patterns of change that may be the promise of a market for new business, and the possibility to make the offering. Entrepreneurs become motivated by opportunities because an opportunity is when a trend fits their purpose.

Opportunities are always apparent to those who are ready to receive them. Having the talent for identification and evaluation of opportunities allows founders to find profit opportunities or visualise how to make the social construction that is a new offering.

“There is an enormous market demand for information…”

– Marc Andreessen

Successful entrepreneurs often mention ‘luck’. Luck and opportunities depend on seeing connections between phenomena that are not related. People who get more opportunities than others are those who prepare themselves to spot opportunities more quickly. In entrepreneurship, you either detect an opportunity or you make one.

Fertile ground for entrepreneurship

Fertile ground is when there is a healthy start-up ecosystem. Ideal infrastructure for entrepreneurship is a factor of how much time, money and energy is required to start and run a company. A business environment that is ready for change provides a fertile ground for entrepreneurship. Changes in a business environment may be as a result of the emergence of a new technology, a political shift, or from unfulfilled needs among the public.

Founders can exploit new areas by finding weaknesses in how traditional companies provide something to the public and fail to meet their needs. You may find fertile ground by observing changes among people in a certain area and thereby spotting important trends. Trends emerge when attitudes change, there is a shift in the economy and when there is a general change in values.

Fertile soil is most important for founders and employees in a start-up. The ease of doing business and the local talent pool is one of the main factors. The cost of business in an area is also necessary. Some countries and geographic areas have begun to acknowledge the importance of entrepreneurship and are facilitating infrastructure for founders, investors and stakeholders. Urban areas are usually the best places for start-ups because they serve as hubs for professionals and customers.
Christian Leborg

Christian Leborg

Christian Leborg is a visual communicator and branding consultant. He specialises in building brand strategies and brand identities. Christian has worked with several specializations within visual communication as well as teaching and being an author. Christian now works on his third stint as an entrepreneur.