To the smart soloist, business opportunities are always present, even in economically zany times like those we're in now. There are businesses to be built, and profits to be made -- and not solely from the negative situations of others.

What's required is a new way of reading the trends around you. For example, an article in the December 3, 2008 issue of the Wall Street Journal cited this startling statistic:

More than half of Americans are expected to have
elder-care responsibilities within 10 years.

Now, the general reader would have passed that statement by, or perhaps paused a moment to mentally say, "Wow." But to soloists attuned to new business opportunities, this statistic is enough to start a mental tornado of ideas swirling. Just think of all the products and services that will be needed based on this single observation! Support services for working professionals dealing with elder-care. Innovative products, services, and technologies for the aging. New food, clothing, and shelter possibilities. Transportation services. Financial services. The list is potentially endless.

How do you train your brain to recognize these opportunities?

1. Read with attention.
Power up your business opportunity radar when you read, and read widely. Each day I spend a half hour during lunch with the New York Times and the Wall Street Journal (I'm still a print person). I also quickly browse several news sites and blogs each day. Whether you find your news on paper or online, absorb your daily information through an opportunity filter.

2. Consider new combinations, new uses.
Innovation rarely comes from something entirely new. Often it's born of the creative spark of putting existing ideas into a new context. Who ever thought a video game (realm of couch potatoes) could be transformed into an exercise device? Enter Nintendo's Wii console, and Wii Fit.

3. Think forward.
Cast your mind 2-3 years in the future and consider what the world will be like. Jumping ahead and looking back is often easier than trying to stretch out from the present day. Think about what will need to take place in the intervening years for your imagined future to exist. Opportunities await in that space.

-- Terri Lonier
Founder, WorkingSolo.com

P.S. If you'll be in the New York City area in early February, check out the 2009 Small Business Summit, produced by longtime Working Solo colleague Ramon Ray. See the ad in the right column.