22/07/2023
How often do we capitalize from bizarre economic situations. Situations that is meant to threaten our finances and our resolve to pay the bills, provide for our families and keep our careers and businesses afloat. The truth is, there is always economic prosperity shortly after a "seeming" economic downturn.
Only a few recognize and capitalize on opportunities during this time. The others join the wagon of complainers and vain critics. Economic meltdown suggests problems, and only those who can solve these problems are guaranteed financial freedom.
Michael J. Cullen, the founder of King Kullen Grocery, saw the future of groceries in the idea of the supermarket roughly a year after the stock market crashed in 1929.
Cullen began putting together the idea of the first supermarket as early as 1913, but no one would listen to his idea. He pictured a self-service grocery store outside of city centers with low prices where customers could find everything they needed in one place.
In a lettered pitch to then-Kroger CEO William Albers, Cullen said stores would be able to make $10,000 in sales at a net profit of 2.5%, with some items sold at cost and others sold from 5% to 15% above cost to generate profit. But Albers never saw the letter.
Cullen moved to New York and opened the first King Kullen on Aug. 4, 1930, in a vacant garage in Queens. Within seven years, there were 17 King Kullen locations in New York City and Long Island. What a Success!
Financial freedom is a product of value driven solution to a widespread problem.
These three ways will guide you towards identifying opportunities.
1) Observing trends and listing varying problems within those trends
2) From the problems listed, streamline these problems into a smaller group where you have the most relevant capacity to provide solutions.
3) Find gaps in the market place that best fits your solution.
4) Start delivering value in action.
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