A very successful shoemaker in the United States was considering expanding his business into India. He decided to conduct some market research to help him properly assess the market opportunity before he could make his final decision. He sent one of his sons to travel the country from north to south. He sent his other son to travel the country from south to north.
After one year away, his two sons returned with their reports.
“We must expand to India,” said the son who traveled north to south. “No one there has shoes, the market opportunity is amazing.”
“There’s no point expanding to India,” said the son who traveled south to north. “No one there has shoes, there’s no demand.”
A market opportunity is not a thing that exists or doesn’t exist. No amount of research can conclude that there is or isn’t a market opportunity. A market opportunity is nothing more than a perception. Some perceive opportunities where others do not. Some succeed where others fail. And some fail where others succeed. This is the reason it is unwise to wake up everyday in pursuit of market opportunities. Why not chase unicorns? There is not a single example of a person or organization that ever achieved greatness by chasing a market opportunity.
Greatness starts with a problem that needs solving. The opportunity comes from marketing a solution that works. Sharing that solution becomes a cause. The cause inspires people to help. And when people are inspired to help, organizations become great.