Find the Gap

Daniella Segal is a One Young World Ambassador from Israel. She is the founder and co-director of KEN-S (Knowledge, Entrepreneurship, Networking and Skills) which aims to build personal relationships and networks between young and established Israeli leaders.

Instilled in the minds of many is the notion that entrepreneurship is black and white, that people are either born with the necessary skills or not. I believe that everyone has the potential to be an entrepreneur if they can find a gap in a field or sector, make a commitment and follow some core guidelines. It may come more naturally to some than others but if you follow what proceeds you will be on your way to finding the gap. 

Find something that moves you, that you are driven to change, that you wish would look different or that disturbs you. Once you identify this, try to find more people who share your vision. A successful enterprise is first and foremost about the people; therefore, you must establish a team. Look for those who challenge you, who think differently to you, who can make you laugh, smile and support your creativity, who can add some unique value and who can be as dedicated and passionately curious about the process as you are. If you find the right people and work hard together you will find the ideas and inspiration to push you forward.

Once you agree on a general idea and direction, identify the key terms and phrases that articulate your idea to your peers. Your task is to clarify your vision so that people can immediately comprehend it.

Next, do research using questionnaires or interviews. Create a community who will give you feedback on various changes throughout the process. Then, clearly describe how your enterprise will fulfill the needs you identify.

Finally, write a business plan which answers the key question; what is the added value of your enterprise? It doesn't necessarily have to be a brand new idea; you just have to highlight what you will do differently. What is your unique selling point? What makes you stand out?

It is important that you understand the size of your market and who your potential partners and stakeholders are. Target this market as strategically as possible! Devise ideal promotional strategies, breakdown your revenue stream and have a thorough plan for breaking even. 

Your original idea may change along the way but this is part of the process. Be willing to embrace new ideas and welcome the change that might come.

Remember, ‘if at first you don’t succeed, try, try again’.