The Internet is constantly producing opportunities for online entrepreneurs. These opportunities are sometimes created because of a new need that people have, such as the need for lower priced medication, or a new want, such as the desire for people to gamble online.

There are also many opportunities created online by the ability of companies to offer their products and services online. Look at the dramatic changes that took hold in the travel industry. Airlines eliminated commissions to their travel agents, and switched to online compensation to sites that could bring them customers.

Or look at the opportunity for a small website to receive advertising revenue without soliciting ads, which can be done through the Google Adsense program.

The only problem is that most people only take advantage of online opportunities when they are widely known. At that point the profit potential promised by these opportunities is greatly diminished since there have been many entrepreneurs who have taken advantage of it.

To capitalize on new online opportunities you need to be aware of them before your competition is. So how can you discover new unfolding online opportunities?

Tool #1

Monitor news related to the online business world. You can search on Google News and Yahoo news to monitor the latest articles that cover Internet businesses. Many times an Internet company will announce a new affiliate program, or discuss a new market initiative, through the release of a press release.

Tool #2

Visit online forums. There are hundreds of online forums that are specifically dedicated to the subject of doing business online. Check out Web Master World for instance. It