Tag: Identifying

  • How can we identify and authenticate individuals?

    How can we identify and authenticate individuals?

    In the age of intelligence, identify and authenticate individuals; everyone has become accustomed to using biometric features such as fingerprints and faces to verify and identify identities. In fact, from ancient times to the present, to prove “you are you” and identify “who you are”. People have come up with countless ways, so let’s first understand how ancient people identified a person’s identity.

    Here are the articles to explain, we identify and authenticate individuals

    Since ancient times, people have discovered biometrics. Such as fingerprints are more convenient and accurate than items and passwords as identity proofs. With the rapid development of science and technology, people have also found palmprints, faces, iris, voiceprints, gait, etc. Have unique and unique properties similar to fingerprints, which can use for identification and verification.

    Entering the era of artificial intelligence, with the comprehensive application of high-tech means such as computers, optics, acoustics, biosensors, and biostatistics, biometrics, which uses “biological keys”. Such as the inherent physiological characteristics and behavioral characteristics of the human body, to realize personal identity. The identification technology has a broader space for technological development, few types of identify and authenticate individuals below are.

    Fingerprinting: Top of the ID Evidence

    Fingerprint identification is based on the feature points of fingerprints to identify. Due to the characteristics of fingerprints that remain unchanged for a lifetime and can restore after injury. As well as the perfection and ease of operation of fingerprint recognition technology. Fingerprint recognition has always been the most important biometric method, appearing in all aspects of life.

    Moreover, since fingerprint features are difficult to obtain directly, and are more difficult to trace the source. It is not easy to associate with personal private information such as action trajectories. There is a broad development space for privacy protection and security, and it has attracted the attention of the biometrics industry.

    Palmprint: password in the palm

    Palmprint recognition is to use the features of lines, points, textures, and geometry of palmprints for identification. The most important feature is the features of lines. The clearest lines in the features of lines are, The lifetime does not change, and can still identify in low-resolution and low-quality images.

    Due to the characteristics of simple sampling, rich image information, high user acceptance, not easy to forge, and less affected by noise. It has attracted extensive attention from researchers at home and abroad.

    Palm Vein Recognition: A New Hotspot in the Field of Identity Authentication

    Palm vein recognition uses the characteristics of hemoglobin in human blood to absorb near-infrared light to obtain palm vein images.

    Since the palm vein is an internal physiological feature in the skin. It is difficult to obtain and forge, and it has its living information, so it has extremely high privacy.

    Iris: the identity code is hidden in the eye

    Iris recognition is mainly through the comparison of many interlaced spots, filaments, crowns, stripes, crypts, and other detailed features in the iris.

    Since the iris formed in the fetal development stage. It will remain unchanged and unique for life, so it has a very high recognition accuracy. However, iris recognition greatly affects by the environment, such as light, glasses, or colored contact lenses, which will cause recognition difficulties.

    Voiceprint: Hearing and Knowing People

    Due to the complex mechanism of human vocalization, the voiceprint maps of any two people are different. Therefore, voiceprint comparison can perform based on features. Such as pitch, intensity, duration, and pronunciation method.

    However, the characteristics of the voiceprint have variability, and the recognition process has a great impact on the recognition results due to physiological, psychological, camouflage, and other disturbances, and because the voiceprint can easily obtain from the telephone and recording, it has a high value in the application. security risks.

    Face recognition: strong identity association

    Due to the large changes in people’s faces, face recognition mainly compares parts such as the eyes, nose, mouth, and chin. As well as the features of these parts and the structural relationship between them, then identify and authenticate individuals. You can check out demos of such technologies at SkyBiometry.

    Nowadays, the development of face recognition technology is becoming more and more mature. The method of extracting vectors based on deep learning can achieve extremely high accuracy and overcome the influence of various factors. Click here to find out whether face recognition technology can still work accurately when individuals have their eyes closed.

    From the characteristics of the above biometrics, it can be found that compared. With other biometrics, fingerprint, palmprint, and palm vein recognition have the advantages of needing to know and being difficult to trace.

    In addition, in terms of accuracy, due to the difference in the number of feature points. For example, the Dlib library stands commonly used for face detection to detect feature points. While a fingerprint usually has 80-120 features. The point, it has more advantages in recognition accuracy and larger storage capacity performance.

    Face verification and face recognition are different in the process of face recognition. First, the concept of face recognition introduce, followed by a comparative analysis of face recognition and face verification, and the introduction of related concepts. Finally, for these two The evaluation process stands described.

    Concepts of face recognition

    Face recognition (Facial Recognition), that is, obtaining the user’s facial image through the video capture device. Then using the core algorithm calculates and analyzes the facial features, face shape, and angle of the face, and then compares it with the existing templates in its database Yes, to determine the real identity of the user. In the face recognition algorithm, after detecting the face and locating the key feature points of the face. The main face area can be cut out, and after preprocessing. It is fed into the back-end recognition algorithm. The recognition algorithm needs to complete the extraction of facial features and compare them with the known faces in the inventory to complete the final classification.

    The principle of the face recognition algorithm:

    The system inputs one or a series of face images containing unidentified identities. Several face images or corresponding codes with known identities are in the face database. And its output is a series of similarity scores indicating the identity of the face to be recognized.

    Comparison of Biometrics

    Previous studies have compared the application difficulties, distinguishability, permanence, ease of collection, acceptance, and ease of forgery of various biometric technologies. The study found that finger and palmprint recognition performed well in all aspects.

    With the maturity and improvement of biometric technology. People began to pay attention to the security issues of identity recognition beyond convenience.

    As an industry-leading artificial intelligence basic technology and platform company, Moqi Technology takes finger palmprint and palm vein recognition as the core innovates and develops irreversible, non-associated, and revocable biometric technology for privacy protection, and is committed to serving billions of people. Provide privacy-protecting, secure, and reliable next-generation identity authentication services.

    Today, these technologies have been widely used in some important areas of the national economy and the people’s livelihood, and are the first to achieve second-level, high-precision, fully automated comparisons on the order of 2 billion fingerprints worldwide. In the future, Mokey Technology will continue to expand the application of non-contact finger, palmprint, and palm vein recognition, and further lead the future of the next generation of biometrics.

    How can we identify and authenticate individuals Image
    How can we identify and authenticate individuals? Image by Tumisu from Pixabay.
  • The best ways EIN number How to Get

    The best ways EIN number How to Get

    An EIN Employer Identification Number How to Get? It likewise refers to a Federal Tax Identification Number and uses to pick out a business entity. The most effective sort of enterprise that doesn’t require getting an EIN is a sole proprietorship and not using personnel. If you personalize a small enterprise, you’ll probably need to apply for an organization identity range, additionally called a business tax ID wide variety, at some point.

    Here are the articles to explain, the EIN (Employer Identification Number) and How to Get for how to best ways to apply exit and new!

    What is an EIN? Your worker identification wide variety, or EIN, permits the IRS to identify you for tax functions. It’s essentially a tax ID for the federal government this connects to your business. You can observe for an EIN using Form SS-4 from the IRS. It’s an unfastened procedure that supposes to be self-explanatory; however, many human beings have trouble navigating their way thru the paperwork.

    For expert assistance, you could visit a report coaching website and get a 3rd celebration to help you entire and document your paperwork. In that manner, you already know you have efficiently submitted the right documents to acquire your EIN. An employer identity variety, or EIN, is a 9-digit variety assigned to your company with the aid of the IRS. And you use it whilst filing your commercial enterprise’s profits tax return or payroll tax go back. An EIN also comes in handy when establishing an enterprise financial institution account, making use of an enterprise credit score card, or making use of an enterprise mortgage.

    If you’re looking to get an EIN, EIN-ITIN.COM the best information is that the utility technique is straightforward and loose. You can follow online on the IRS website or by mail or fax. (International candidates also have the option to use using a smartphone). You must effectively want some primary bits of data approximately your business to apply.

    How to Apply for an EIN?

    You can observe your EIN by going online to the IRS EIN internet site. EIN number How to Get? At the bottom of the page, click on the button pointing out you could “Apply Online Now.” When to Apply for an EIN Number. From there you will direct to the utility for acquiring your EIN. You can then start the utility process. First, you may solution somewhere between 10 and 15 questions on your identification.

    If you have got a problem with a few causes, you may also practice for an EIN over the smartphone. You can attain the IRS by using calling (800) 829-4933 anytime starting at 7 a.M. And up until 10 p.M. Alternatively, you could send your utility by using fax. Fill out IRS Form SS-four, Application for Employer Identification Number.

    Check online for the proper fax range in your kingdom. When faxing in your software, anticipate getting hold of your EIN by using the cease of 4 enterprise days. Finally, you can mail the same form at once to the IRS. It’s a protracted system, so don’t count on paying attention again before 4 weeks. Again, the mailing address for the right IRS vicinity relies upon where your enterprise is located.

    Steps of EIN apply

    Ideally, you ought to observe for an EIN when you first release your enterprise, but you may additionally be applying in time for tax season or to put up a commercial enterprise loan utility. The software system is free through the IRS, so be cautious of agencies that rate you to apply for an EIN on your behalf. EIN number How to Get, Follow these easy instructions to use for an organization’s identity range.

    Determine your eligibility for an EIN

    Two primary requirements have to be met to apply for an employer identity variety:

    1. Your main commercial enterprise must be located in the U.S. Or U.S. Territories.
    2. The individual applying ought to have a valid taxpayer identification quantity, along with a Social Security range.

    Your primary business is determined via identifying the main income-generating hobby which you do (e.G., representative, engineer, health practitioner, vehicle repair store) and your principal bodily location. Just because you offer services outdoors in the U.S. Doesn’t necessarily mean that you don’t meet the eligibility necessities. As long as your primary business sports are in the U.S., you’re eligible to apply for an EIN.

    The character who applies would not need to be the enterprise owner. The applicant may be a companion or officer of the agency. The IRS permits any “responsible birthday celebration” to use, which they define as all people who manage the employer’s finances. Another individual, consisting of a secretary or assistant, can apply supplied responsible celebration signs and symptoms Form SS-4 and fill out the 1/3-celebration designee segment.

    Gather the vital facts

    You have to begin by using reviewing the PDF model of Form SS-4: Application for Employer Identification Number. In that manner, you can make certain that you have all the required information equipped, together with names, addresses, and the Social Security wide variety of the accountable celebration.

    You’ll want to know what kind of business entity your organization is, and in case your enterprise is a business enterprise, you’ll position down the country or us of a where you incorporated. If you have a multi-member LLC, make certain the number of contributors.

    Other information you’ll need to complete the utility includes:

    1. The primary purpose for applying (E.G., launching a business, banking purposes, hiring employees, etc.).
    2. The date you started or acquired your enterprise.
    3. Primary industry, along with an outline of your primary products or services.
    4. Highest quantity and sort of person you expect to rent during the subsequent 12 months.
    5. First date wages were or can pay on your business.
    6. Closing month of your accounting or economic yr.
    7. Whether you would like to document an annual company tax return in place of a quarterly employment tax go back if you pay your employees $4,000 or much less in wages in a calendar 12 months.

    By reviewing and filling out Form SS-4, you could make sure you have got all the records you want earlier than you begin the online application procedure.

    Apply for an EIN online or via mail or fax

    The IRS has a few options to use for an EIN. You can observe online, with the aid of fax, or using mail. Applicants who’re presently remote places and looking to immigrate to the U.S. The business purposes can also pick to apply by way of telephone. For all U.S.-based candidates, the web application is the very best and fastest approach. For the online utility, the IRS’ online EIN assistant gives a smooth step-by way of-step form. The online software is available Monday through Friday from 7 a.M. To 10 p.M. EST.

    The assistant walks you through the utility system and presents hyperlinks to helpful sources and different statistics. Keep in mind that you’ll automatically log out of the machine after 15 minutes for safety motives, and each responsible birthday party is only able to practice for one EIN per business day.

    If you operate the IRS online application, you may get hold of your EIN instantly once you electronically post your utility. Fax programs take 4 enterprise days to method. Mailed applications take four weeks. Should you select to get an EIN via fax or mail, you may ship it inside the completed Form SS-four.

    Why you should follow for an EIN

    Many small companies are required to get an Employer Identification Number for tax roles. Any business that has personnel is needed to have an EIN to pay and report payroll taxes for his or her personnel. In addition, companies that are structured as partnerships, agencies, or multi-member LLCs also are required to have an enterprise identity variety to document an enterprise income tax return. The simplest forms of companies that do not need an EIN are sole proprietorships without personnel and unmarried-member LLCs and not using employees that are taxed as omitted entities.

    If you fall into any such classes, you could use your Social Security wide variety when filing profits taxes in place of an EIN. Certain specific sorts of organizational systems also require an EIN. If your corporation describes as number how to get of the following kinds, you’ll need to apply for an EIN regardless of whether you have got personnel:

    • Trusts, besides sure grantor-owned revocable trusts, IRAs, and Exempt Organization Business Income Tax Returns.
    • Businesses that settle excise, liquor, tobacco, or firearm taxes.
    • Businesses with a Keogh plan.
    • Estates.
    • Real estate loan funding conduits.
    • Nonprofit organizations.
    • Farmers’ cooperatives.
    • Plan directors.

    Keep in mind that even though the IRS doesn’t require you to get an EIN, U.S.-based corporations have the option to use one. And getting one comes with numerous blessings. Having this identifying number permits you to split your business and private budget and easily follow for commercial enterprise credit score, open a business bank account and work with suppliers while not having to apply your private Social Security quantity.

    Reasons to Apply for an EIN

    There are several motives you would possibly need to file for an EIN number how to get and what is the number for. These include:

    • Opening a brand new enterprise
    • Hiring any personnel, even those in the household
    • Opening a bank account requiring an EIN
    • Opening a business line of credit or financial institution account
    • Changing your commercial enterprise’s prison shape or possession
    • Forming a pension, accept as true with, LLC, company, or partnership
    • Representing an estate that includes a commercial enterprise once the proprietor has died

    What if I lose my EIN?

    Your first step is to go through all of your commercial enterprise documents to discover the unique EIN note from the IRS. If you implemented on line, it will likely be a laptop-generated note. You also can check your bank account, your information from employees’ payroll, and any national utility accounts. Another probable place to locate your EIN is in your tax returns for the commercial enterprise.

    If you are still not having any luck finding your EIN, you can name the IRS on their Business and Specialty Tax Line. The wide variety is 800-829-4933, and the strains are staffed on weekdays from 7 a.M. – 7 p.M. Local time. Before you get your EIN, you’ll need to offer unique information to discover yourself. Only legal humans can call for these records, such as an accomplice, trustee, sole proprietor, company officer, or executor of an estate.

    The best ways EIN Employer Identification Number How to Get Image
    The best ways EIN Employer Identification Number How to Get; Photo by sol on Unsplash.
  • What Are My Goals?

    What Are My Goals?

    What Are My Goals? Motivating Yourself!

    Begin your “learning to learn” course by asking students about their goals. Each year I find many differences in the abilities of students to articulate their goals. Some students have clear and well-defined goals. They know why they are in college and what they are attempting to attain. At the other end of the spectrum, some students have not even defined their personal goals and are not sure why they are in college. Some of your students who are raising families or who have returned to college after some absence appear to have more specific goals than do some students who come directly from high school.

    How would you explain this difference? Think about a musician, athlete, or businessperson who wants to excel in his or her area of expertise but has no specific goals to direct his or her behavior. It is very difficult to be motivated without personal goals. It is important to set goals in different life areas because such goals serve to motivate behavior.

    My Goals enhance performance in five major ways (Locke & Latham, 1990):

    Effort: The goals you set for yourself influence. What you attend to and how hard you try to maximize your performance. The more difficult the goal, the harder you are likely to work to attain it.

    Duration or persistence: When you work on a task without a goal, you are likely to allow your attention to drift. Become more easily interrupted, and even stop working without completing the task. When you have a goal in mind. You have a more clearly define point in the performance that defines. When it is time to quit or withdraw from the task (i.e., when the goal is attain).

    A direction of attention: Goals direct your performance toward the task at hand and away from unrelated or irrelevant tasks.

    Strategic planning: To accomplish a goal, you need to develop an action plan or strategy. Goal setting encourages strategic planning because the presence of a goal encourages you to decide how to proceed. What is My Goal Orientation? 

    Reference point: When you identify where it is you are head (i.e., have a goal) and receive feedback on where you are, you can evaluate your performance and determine. What further actions need to taken (if any). In fact, it is your satisfaction or dissatisfaction with this evaluation that may have the greatest impact on your motivation. What are Motivational Problems?

    Understanding of What Are My Goals; Have you identified some goals you would like to attain this term or year? If so, do you have goals in any of the following areas: academic, social, occupational, or personal? How has your success or failure in attaining previous goals influenced your motivation in different areas of your life?

    What Are My Goals - ilearnlot

  • What is Master the Art of Scheduling?

    What is Master the Art of Scheduling?

    “Where are you on the schedule?” Develop the ability to predict the amount of time as a sequence of key tasks that a project should take. And yet we all work with software developers who hate the pressure of committing to a schedule because to complete work usually takes “as long as it takes.” But you can’t effectively run a business without the confidence to work toward a schedule.

    When you recognize the value of time management skills, you become the overseer of your life, with your schedule as your command center. Many people think that creating a schedule is as easy as jotting down the time and activity on a piece of paper. However, scheduling is so much more than that.

    A well-planned schedule of everyday tasks is more than just a reminder of what needs to be done. It also allows you to make time for important tasks that are in line with your goals. It makes you become aware of how you spend your time each day. It helps you to recognize areas that need adjustments so that you can achieve balance between your personal life and your profession. So how should you schedule your time each day? What are the tools you need to become a “master scheduler?” Here are the strategies to learn:

    Gather Your Scheduling Tools

    In general, you would need three essential scheduling tools, and these are:

    A daily planner,

    A weekly planner, and

    A monthly planner

    The daily planner helps to keep you on the right track each day. It enables you to concentrate on exactly what tasks need to be done and how much time you have for each.

    The weekly planner serves as your overview of the events planned out for that week as well as the tasks that you need to accomplish. It helps you get to see what is ahead of you, because focusing only on the everyday tasks might cause you to forget about what is in store for tomorrow, or the day after that.

    Now, you might think that you do not need a monthly planner if you have a weekly one. However, it always helps to have all the dates of the month laid out on a single page. This will enable you to see the important dates of that month and plan your week and days around them.

    However, it is possible to keep a monthly planner without the weekly planner. Just make sure that there is enough space for you to jot down your weekly tasks on the monthly planner.

    There are plenty of planners whether digital or printed out there, so choose your layout carefully. Most of the time, you will find that many planners already have daily, weekly, and monthly sections. This is helpful, especially if you want to carry your planner around. Take care not to purchase more than one type of planner, because you would only end up feeling confused as to which one you should write your next set of tasks.

    One suggestion on how to organize your different planners is that you should have a portable daily planner, and a desktop or wall-mounted weekly and/or monthly planner. This is because you will likely need to check your daily planner constantly throughout the day, while you only need to jot things down and review your weekly/monthly planner once a week. A large monthly planner is helpful as well, because you will want to see everything at a single glance.

    Once you have your scheduling tools, the next step is to create a scheduling routine.

    Create a Scheduling Routine

    Do you take time at the end of each day to plan for the following day? If you do not, then now is the best time to build this habit. A master scheduler should set aside a time each day to plan for tomorrow, each week for the week ahead, and each month to review everything and plan for the next month.

    In most cases, it will only take ten to twenty minutes to plan for the following day and thirty minutes to plan for the week and month ahead. However, the time you would invest in planning will save you from many problems in the future.

    After you have set a fixed “scheduling” time, you should then establish a routine on how to schedule your time. Here are the recommended steps:

    1. Time-block non-negotiable appointments

    Certain parts of the day may be out of your control; such as board meetings or dentist appointments. You should secure them all first, otherwise you might end up with overlapping appointments.

    It must be emphasized that you should also time-block the hours when you will be sleeping. Have to establish a fixed sleeping schedule to stay healthy and sharp the following day. Do not rob yourself of sleeping hours by cramming on certain tasks. Instead, focus on planning your day carefully so that you will have time to accomplish them all.

    1. Schedule your Important Tasks

    At this point, you would be able to see the times lots during the day when you do not have anything scheduled yet. If so, then you can refer to your list of priorities to allocate the different tasks into your day, week, or month.

    For example, if your most important task for the day is to write a thousand words for your personal book project, and if you do not have anything scheduled between seven and ten a.m., then you can block this task within this time.

    1. Schedule your Urgent Tasks

    After you have secured the times lots for your important tasks, you should then move on to blocking in the urgent ones. It helps to use a different colored-pen or highlighter to separate the important from the urgent.

    Do not forget to factor in breaks and an allowance in time for emergencies. In other words, you should never time-block one task after another without at least ten minutes of contingency time. This way, you will not be behind schedule in the next task when there was an unexpected extension in the task before it.

    Here is an example:

    •             Important Task —- 7:00 am to 9:00 am
    •             Contingency Time —- 9:00 am to 9:15 am
    •             Urgent Task —- 9:15 am to 11:30 am
    1. Review your schedule and make adjustments if necessary

    Once you have your entire day planned out, you can go back and assess your schedule as a whole. If you notice that you have spread yourself too thin, consider delegating certain tasks to others, rescheduling them, or canceling them altogether. Once you are satisfied with your schedule, the only thing left to do is to take action.

    As with any other skill, it takes constant practice to become better at scheduling and managing your time well. Nevertheless, it takes more than just scheduling and planning to do a great job every day without feeling burned out. That is because you also need to develop an efficient system. Read the post How to Make Establish an Efficient System? to learn more about that.

  • How to Learn of Hone Your Ability to Concentrate?

    How to Learn of Hone Your Ability to Concentrate?

    The ability to concentrate is a skill that becomes stronger over time. Through constant practice, you will be able to concentrate more effectively for an extended period of time. However, if you constantly find it difficult to focus on tasks, or if you find yourself wasting your time on unimportant activities, then you need to address this problem as soon as possible.

    Ability: Human Resource Management; An acquired or natural capacity or talent that enables an individual to perform a particular job or task successfully. See also aptitude. Law; The power to carry out a legal act or satisfy a legal obligation.

    Concentrate: A concentrate is a form of substance which has had the majority of its base component (in the case of a liquid: the solvent) removed. Typically, this will be the removal of water from a solution or suspension, such as the removal of water from fruit juice. One benefit of producing a concentrate is that of a reduction in weight and volume for transportation, as the concentrate can be reconstituted at the time of usage by the addition of the solvent. Completely different to clustered.

    The good news is that there are tested-and-proven tips on how you can concentrate better. Apply the following tips and notice how you will then be able to finish your important tasks on time.

    Eliminate distractions

    Distractions come in all shapes and sizes. It could be the uncomfortable chair you are sitting on, the messy desk you have to work on, or the loud noises from outside. Whatever your case may be, it is important to get rid of them before you begin your task. That way, you can no longer use them as an excuse to procrastinate.

    Here are some suggestions:

    I. Hang up a “do not disturb” sign.

    II. Play instrumental “concentration enhancing” music to drown out the background noise.

    III. Set your phone on silent mode and store it away.

    IV. Block certain websites that keep you from focusing.

    Focus on one task at a time

    Multi-tasking keeps you from being able to provide quality output. It also stresses your mind out, whether you are aware of it or not. This is because you are not really “accomplishing” multiple things at once, but rather you are rapidly switching from one task to another.

    Instead, set aside a time block for a particular task and do absolutely nothing else except that task within that time frame. You could even set a timer so that you will not have to glance at the clock every now and then to check how much time you have left.

    Take short breaks between tasks

    Most people – even the most productive ones out there – can concentrate on an important task for no more than two hours at a time. Likewise, it takes approximately fifteen minutes of rest to replenish this concentration “energy.” Therefore, you can use this as a rule of thumb to schedule breaks.

    For instance, after working non-stop on a task for two hours straight, set a timer to signal you to take a fifteen-minute break. Then, do something relaxing, such as taking a walk or having a snack. After fifteen minutes, you will be ready to take on another two-hour long task, give or take.

    Focus on challenging tasks during your peak hours

    Identify which part of the day you feel most confident and energized, and use this time to work on the tasks that require the most concentration. For most people, mornings are the times when they feel as if they can handle anything. For others, this happens during the evenings when everyone else is exhausted from work.

    Reward yourself after accomplishing a challenging task

    Our minds are programmed to repeat a certain behavior if we are rewarded for it. Therefore, to condition yourself to practice improving your concentration each day, do not forget to reward yourself after a job well done. It could be something as simple as playing a video game for an hour, watching an episode of your favorite television show, or enjoying a delicious, albeit sinful, snack. That way, you can be more driven to finish the task so that you can get your reward.

    Aside from these tips, it always helps to remind yourself to take good care of your body. Always make it a priority to get enough hours of sleep, eat nutritious meals, and hydrate throughout the day. When your body is healthy and full of energy, it is only natural for your mind to be sharp and focused.

    At this point, you must be excited to start working on your tasks. However, you might want to learn how to manage your schedule first, especially if you have multiple tasks to handle each day. Find out how you can acquire this skill in the post What is Master the Art of Scheduling?

  • Identifying and Recognizing Opportunities for a Successful Business

    Identifying and Recognizing Opportunities for a Successful Business

    Identifying and Recognizing Opportunities; To be successful entrepreneurs, we need to be continually innovating and looking for opportunities to grow our startups. When you can recognize opportunity, you know how to identify promising changes unfolding around you, and you act to take advantage of them. But how do you find new opportunities to take your startup to new markets and growth levels? Essentially, entrepreneurs recognize an opportunity and turn it into a successful business.

    Here are explain; How to do Identifying and Recognizing Opportunities for a Successful Business?

    An opportunity is a favorable set of circumstances that creates a need for a new product, service, or business. Most entrepreneurial ventures start in one of two ways. Also, Some ventures externally stimulate. In this instance, an entrepreneur decides to launch a firm, searches for and recognizes an opportunity, and then starts a business, as Jeff Bezos did when he created Amazon.com. In 1994, Bezos quit his lucrative job at a New York City investment firm and headed for Seattle with a plan to find an attractive opportunity and launch an e-commerce company.

    Other firms are internally stimulated, like Bench Prep. An entrepreneur recognizes a problem or an opportunity gap and creates a business to fill it. Regardless of which of these two ways an entrepreneur starts a new business, opportunities are tough to spot.

    Identifying a product, service, or business opportunity that isn’t merely a different version of something already available is difficult. A common mistake entrepreneurs make in the opportunity recognition process is picking a currently available product or service that they like or are passionate about and then trying to build a business around a slightly better version of it. Although this approach seems sensible, such is usually not the case.

    How to do Identifying and Recognizing Opportunities for successful Business Startup
    Identifying and Recognizing Opportunities for a Successful Business, Startup Image from Pixabay.

    The key to opportunity recognition is to identify a product or service that people need and are willing to buy, not one that an entrepreneur wants to make and sell.

    What is An Opportunity?

    Opportunity Defined; An opportunity is a favorable set of circumstances that creates the need for a new product, service, or business idea.

    Difference between an opportunity and an idea; An idea, as we defined it, is “Something imagined or pictured in the mind”. Also, The difference is that an idea may or may not represent an opportunity.

    Most entrepreneurial firms start in one of two ways; Some firms internally stimulate. An entrepreneur decides to start a firm, searches for and recognizes an opportunity, then starts a business. Other firms externally stimulate. Also, An entrepreneur recognizes a problem or an opportunity gap and creates a business to fill it.

    An opportunity has four essential qualities:

    It is;

    1) attractive,

    2) durable,

    3) timely, and

    4) anchored in a product, service, or business that creates or adds value for its buyer or end-user.

    For an entrepreneur to capitalize on an opportunity, its window of opportunity must be open. Also, The term window of opportunity is a metaphor describing the period in which a firm can realistically enter a new market. You may understand identifying and recognizing opportunities, once the market for a new product establishes, its window of opportunity opens. As the market grows, firms enter and try to establish a profitable position. At some point, the market matures, and the window of opportunity closes.

    Three Ways to Identify an Opportunity;
    1. Observing Trends,
    2. Solving a Problem, and
    3. Finding Gaps in the Marketplace.

    This is the case with Internet search engines. Yahoo!, the first search engine, appeared in 1995, and the market grew quickly, with the addition of Lycos, Excite, AltaVista, and others. Google entered the market in 1998, sporting advanced search technology. Since then, the search engine market has matured, and the window of opportunity is less prominent. Today, it would be very difficult for a new start-up search engine firm to be successful unless it offered compelling advantages over already established competitors or targeted a niche market in an exemplary manner.

    Bing, Microsoft’s search engine, is enjoying success with approximately 27 percent market share (compared to 68 percent for Google), but only after Microsoft has exerted an enormous amount of effort in head-to-head competition with Google.

    It is important to understand that there is a difference between an opportunity and an idea. An idea is a thought, an impression, or a notion. Also, An idea may or may not meet the criteria of an opportunity. This is a critical point because many entrepreneurial ventures fail not because the entrepreneurs that launched them didn’t work hard, but rather because there was no real opportunity, to begin with. Before getting excited about a business idea, it is crucial to understand whether the idea fills a need and meets the criteria for an opportunity.

    Also, Now let’s look at the three approaches entrepreneurs can use to identify an opportunity. Once you understand the importance of each approach, you’ll be much more likely to look for opportunities and ideas that fit each profile.

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