What are the needs of an entrepreneur?
“There is an enormous market demand for information…” – Marc AndreessenSuccessful 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.