This quote suggests that the ideal time to venture into a new business is when the existing businesses in that industry are poorly managed. The concept behind this is that poorly run businesses leave a gap in the market for better services and products. If a new business can capitalize on these gaps and provide superior services or products, it has a chance to capture a significant market share and succeed.

This idea is based on the principle of competitive advantage. In any given market, businesses compete on various fronts such as price, quality, service, innovation, etc. When existing businesses are poorly managed, they fail to maximize their potential in these areas, making it easier for a well-managed newcomer to outperform them.

In the context of today’s world, this principle is particularly relevant due to the rapid pace of technological innovation. For instance, if a traditional retail business fails to adapt to the rise of e-commerce and continues to operate inefficiently, a new business that leverages the power of online selling can step in, attract customers and thrive.

This idea can also be applied to personal development. If you observe that people in a particular profession are not performing optimally, it could be an opportunity for you to step in and excel. By learning from their mistakes and capitalizing on their weaknesses, you can make a name for yourself in that field.

In essence, the quote encourages proactive observation of the market or environment for inefficiencies and gaps. By identifying these gaps and filling them more effectively, one can achieve success in business or personal development.