The Merriam Webster’s Dictionary defines the term opportunity as a favorable juncture of circumstances and a good chance for advancement or progress. Life is full of opportunities, of which some people take advantage of them while others let opportunity pass by.

What makes a person allow opportunity to pass them by while others take advantage of it? I believe there are at least four elements that play a part in being able to take advantage of an opportunity.

The first element is mindset. We must be prepared mentally to recognize an opportunity.

The second element is location. We must be in the right place to be introduced to the opportunity.

The third element is association. Soil is the most conducive place for a plant to grow. In like manner, our associations are potential breeding grounds for introduction to an opportunity.

The fourth element is equity. Almost every business opportunity I have ever seen required some sort of equity – cash, skill or some other asset. We must be in a position to have some available funds or access to an asset that can be leveraged.

The fifth element is vision. Where do you see this opportunity taking you? What can you imagine? Whatever that is, then that is achievable.

Remember every challenge presented in life offers an opportunity. We must be prepared to identify the opportunity and take advantage of it.