Finding Your Sweet Spot

Mark Coopersmith, author, entrepreneur and Fortune 500 executive, teaches a concept at the Haas School of Business that involves finding the sweet spot for your business.

This "sweet spot" occurs at the intersection of expertise, passion, and opportunity. He illustrates this concept in a Venn Diagram, below.

All working professionals have expertise in some area, and most of us have a passion toward an idea or industry. But too many get caught waiting for an opportunity to present itself before taking action.

Instead of waiting for favorable circumstances to materialize, or for a sudden stroke of luck or good fortune, go out and create your opportunity. Be active in your pursuit, not passive, and remember fortune favors the bold.

Most importantly, do not feel afraid to take risks and put yourself out there. As Reid Hoffman, co-founder of LinkedIn, reminds us:

"If you are not embarrassed by the first version of your product, you've launched too late."