Memo To All BizTrekers
Certainly, you could grow a great business pursuing almost any business idea, but you are much more likely to succeed if you do so in a rapidly growing and novel arena – as biotechnology and the tech sector have been in the past.
Most people assume that noted entrepreneurs and self-made billionaires are pioneers. However, in reality, they are generally late-comers with an innovative approach to a process other people have already been working on. They leveraged ground-breaking and novel concepts to create and optimize a major advancement.
As a result, they could tap into an existing and rapidly growing community rather than create one from scratch. They took advantage of an emerging trend and piggybacked on it or gave it a massive kick-start. Since there was an existing community, they could concentrate their initial focus with precision marketing and then expand outwards as the idea gained traction.