Do you have an Eagle's Eye to spot opportunities?

Did you know? Read till the end…

It was during 1976 Chaleo Yoovidhya founder of TC Pharmaceuticals in Thailand introduced an energy drink called Krating Daeng which means “red gaur” in English. The energy drink was sold in bottles bearing an image of two red bulls on the label.

Soon this energy became popular among truck drivers and factory workers as it allowed overcoming fatigue and gave instant energy for double shifts. It was a success among working class consumers.

Dietrich Mateschitz, an Austrian marketing director at a toothpaste manufacturer, first discovered this energy drink on a business trip in Bangkok. Suffering the effects of jetlag, locals directed him to a Krating Daeng, a Thai beverage claiming to boost performance and concentration. Back then, though caffeinated sodas were popular in Eastern Asia, the Western world hadn’t seen much of them.

Seeing this as an opportunity, Mateschitz quit his job in 1984 and met the founders of Krating Daeng and offered them 49% share in the new company if they would allow taking a modified version of the energy drink globally. They accepted it and an Austrian company called Redbull GmbH was founded in 1987.

Though it took them three years to begin selling, Red Bull has since grown into an industry powerhouse, with $7.5 billion in annual sales, over 12,000 employees, and a presence in 171 countries, making Mateschitz one of the richest men in the world.

I am sharing this not to glorify the Redbull but to drive the message that in every business, ideally the business owner/founder must possess the ability to spot and seize new opportunities.

Do you have an Eagle's Eye like Dietrich Mateschitz to spot the new opportunities?