Opportunity seeking is the ongoing process of actively identifying, evaluating, and pursuing new business opportunities that have the potential to create value and generate profit. It involves continuously scanning the market and environment to discover gaps, emerging trends, unmet needs, or innovative ideas that can be developed into new products, services, or business models

. Key aspects of opportunity seeking include:

• Identifying market gaps: Understanding what consumers want but are not yet receiving, which can lead to innovative solutions that disrupt existing markets

• Trend analysis: Monitoring industry, technological, and socio-economic changes to spot new opportunities early

• Creative problem-solving: Using innovation to develop unique solutions that meet market demands

• Risk assessment and resource allocation: Evaluating the feasibility and potential rewards of opportunities and managing resources effectively to pursue them

• Strategic planning and adaptability: Formulating clear plans to exploit opportunities, while remaining flexible to adjust strategies based on feedback and changing conditions

Opportunity seeking is a critical entrepreneurial activity that differentiates successful entrepreneurs. It requires curiosity, optimism, resilience, and an entrepreneurial mindset to turn possibilities into tangible business ventures

. Entrepreneurs use opportunity seeking to drive innovation, gain competitive advantage, and foster business growth by continuously introducing new ideas and solutions to the market

. In summary, opportunity seeking is the proactive and dynamic pursuit of advantageous market-based activities that enable entrepreneurs and businesses to innovate, grow, and stay competitive in changing environments