4A – Forming an Opportunity Belief

1.       I definitely believe that an opportunity exists in many fields including the local business IT field.

2.       The unmet need I will be writing about is technology services for smaller local business that don’t have their own “tech guy” for their business’s. The need comes from modernization of business, keeping digital records, running websites, the general need for technology upgrades, etc. This need has existed for the last 20 years or so and is continually growing as more and more people become reliant on technology. 

3.       The prototypical customer is a small local business owner that wants to modernize their operation.

4.       One prototypical customer I spoke with runs a commercial real estate company on Long Island.

What is the exact nature of the need?

They needed a customer logging software set up to keep a record of all the people they spoke with as they are always potential customers to buy commercial real estate.

When did they become aware of the need -- that is, do they experience their need all the time or only sometimes?

As the business grew they realized keeping all the people logged in the memo app on their phone was getting increasingly difficult and time consuming. Furthermore, every employee would have a different list of clients making it difficult to actually know the total number of contacts they had. That being said they need the customer relations software all the time to keep the business organized.

How long have they had the need?

They have had the need since their business has grown from a new business venture into the top realtor on Long Island.

When did they first become aware of their need?

According to Mr. Shane, the owner, they first became aware of their need for a CRM software when they tried making a shared document between the office for all their contacts to be put on and it turned into a giant disorganized mess.

Why? How are they currently addressing their need?

The current solution in place for the business is a cloud CRM software that is accessible for all employees and is cross platform so it’ll work on all devices.

How satisfied are they with this solution?

They are very satisfied with the CRM software that I set them up on and are continually adding new contacts to it. Furthermore, they were extremely happy with the email blast feature that automatically sends new listings to all their contacts.

5.       I learned that there is always something within a company that can be improved no matter what area it is in. The most surprising thing I learned is how desperately some companies need someone to just come in once in awhile and make sure all their computer systems are running smoothly.

7. How much of your original opportunity is still there?

                The original opportunity I mentioned is still there at the same level.

Do you believe that your new opportunity is more accurate than when you started?

                I mentioned a business I currently operate in so I believe my original opportunity is accurate.

How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback? (In other words, is there a trade-off between adapting and staying firm?)

Entrepreneurs should always listen to their customers’ feedback to constantly improve their service and make sure they are giving their customers exactly what they need.