LISTEN! That’s all you have to do. Listen to your children, other people’s children you will hear what’s in fashion what’s cool. Listen to businessmen explaining what they’d do if they weren’t doing their current business or listen to them complaining how they can’t anyone to supply them with a certain product or service. These are all potential markets.
You have to fine tune your radar to pick up on these signals on this market intelligence, it gets easier with time. You will be surprised how many of these sought after products are in short supply, with Google to help you can be sure of finding a supply somewhere. I once sourced products fom Cambodia.