Engineering Success

Engineering Success

Empowering STEM Entrepreneurs to Shape the Future

Business Opportunities 101: Scratch Your Itch

35 views 6:23 pm 0 Comments January 15, 2025

Let’s get straight to it: the best business opportunities aren’t buried in some mystical startup playbook or the latest TikTok trend. They’re staring you right in the face, hiding in your everyday life. The trick? Spotting them. The secret sauce? Turning your own scratch into a solution that matters—for you and others.

Start with Your Scratch

Every great business starts with a problem. Not just any problem, though. Your problem. That nagging frustration that keeps popping up in your daily routine. The thing that makes you mutter, “Why hasn’t anyone fixed this yet?” That’s your scratch, and trust me, it’s a goldmine for business opportunities.

Here’s the catch: not every scratch is worth scratching. It’s got to matter. Is this a persistent pain point or just a passing annoyance? If it’s the former, congratulations—you’ve found your starting point. But before you get too excited, remember: business opportunities aren’t just about solving a problem for the sake of it. They’re about solving the right problem.

Bring Your Skills and Passions to the Table

Now that you’ve identified your scratch, it’s time to put your unique skills and passions to work. Are you a design genius? A coding wizard? A people whisperer? Great! Use your talents to craft a solution.

Here’s the kicker: make sure you enjoy the process. If solving this problem feels like pulling teeth, it’s not going to last. Passion isn’t just a nice-to-have—it’s your survival kit. It’s what keeps you going when the initial excitement fizzles out and the grind kicks in.

Think of it this way: your scratch is the problem, your skills are the toolkit, and your passion is the engine. Without all three, your business opportunity will sputter before it even gets off the ground.

ATTENTION SPOILER!

Had I given more importance to my own scratch and focused on my strengths better I would have avoided many costly mistakes. However, one thing I realised about myself is my great resourcefulness, essential for any entrepreneurs.

We are not bestowed by any magical power, just a few key ingredients that mixed together set us apart.

Learn more in the article “Inglorious Bastards – The New Entrepreneurs Definition”.

Reality Check: Does Anyone Else Care?

Let’s be brutally honest: no one cares about your scratch unless it scratches them too. That means you’ve got some homework to do. Talk to people. Share your idea. Ask the tough questions:

  • “Do you have this problem too?”
  • “Would you pay for a solution?”

If the answer to both is “yes,” congratulations—you’re onto something. If it’s “no,” don’t panic. Maybe your target audience is too narrow, or maybe your solution needs tweaking. Either way, this is your chance to refine.

Business opportunities thrive on validation. Without it, you’re just guessing. And guessing doesn’t pay the bills.

ATTENTION, ANOTHER SPOILER!

A brilliant idea that doesn’t bring in cash? That’s just a glorified hobby. We’re here for business opportunities, not pipe dreams.

Make sure your audience is the right one for your business. Do not make my same mistake by going after people who had no income and no decisional power, the perfect recipe for a glorified disaster.

Learn more in the article “Audience Apocalypse- Choose The Right Customer Segment”.

Make Sure Your Solution Matters

Now let’s talk about impact. Your solution can’t just be another half-baked hack. It needs to genuinely improve lives, save time, or solve a problem in a way no one else has. Online business opportunities are especially ruthless in this regard. If your solution doesn’t stand out, it will drown in a sea of mediocrity.

So ask yourself: does my solution matter? Does it go beyond surface-level fixes? If the answer isn’t a resounding “yes,” back to the drawing board you go.

Don’t Be “Just Another Startup”

Here’s a harsh truth: the world doesn’t need another generic app, subscription box, or productivity tool. It needs bold, unique ideas that cut through the noise. Think about the last product or service that genuinely impressed you. Chances are, it wasn’t “just another” anything.

The same applies to your business. If you can’t articulate why your solution is different—and better—you’re not ready. Online business opportunities aren’t just about filling a gap; they’re about filling it in a way no one else can.

ATTENTION, YET ANOTHER SPOLIER!”

I let myself be fooled by the idea of being a startup. Wrong. I worked (working) on a business not a startup. So should you.

So be mindful of the business you are building. If you are in doubts and need clarity in setting the right strategy for your business, do not fear asking a mentor. Just be careful of selecting the right one.

Find out more in our articles “The glorified failures process: how not to choose the right business mentor” and “Worchaholic No More- Life-work Balance for Entrepreneur”.

From Scratch to Success

So, here’s the cycle: observe your life, find your scratch, solve it with flair, validate your idea with others, and make sure it truly matters. The best business opportunities are hiding in plain sight. Your job is to uncover them, polish them, and turn them into something people will gladly pay for.

What’s your scratch?

If you are an entrepreneur in the STEM field and struggling to build a marketable product, email me at info@engineeringsuccess.co.uk.  Tell me your biggest challenge and I will be happy to help you.

 

We would also love you to join our Linkedin page here.

And of course, keep reading our articles!

 

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