I had a great conversation a few days ago with a programmer friend of mine who works for a major company (but wants to be working for himself). We were chatting about business, Internet business, making money and particularly about how to find products to sell online. My friend made an interesting comment that struck me me so much that I wanted to write a post about it. I am doing my best to remember his exact words, but more or less, here is what he said:
I am just having a hard time figuring our what kind of a business to start that has not already been started. I mean, do you think I could really create a product that would sell online?
We then went into a huge conversation about creating that “amazing”, “never been done before” invention, and I told him I wanted him to start thinking about business in a different way, and what he could possibly create online with this different way of thinking.
To often like my friend, people think they need to reinvent the wheel, but that is not needed. You just need to figure out a way to perfect it. No pun intended here, but speaking of wheels, when I bought my Tahoe, it had standard ugly wheels on it, but then soon after I went and purchased some custom 22 inch AKUZA rims, and put on it. This is just one quick example of someone taking an existing idea and making money with it. I am the perfect market for this kind of stuff because I like to do things that will make my vehicles stand out, and look even better. In this case, rims have already been invented, but someone felt that people would want custom looking rims that make your vehicle look better.
You have other examples like the inventor of the Little Giant ladder, and the guy who made the battery life tester for Duracell. Batteries and ladders have already been invented, but these people made millions on their enhancements to these inventions. You don’t even have to think of this as perfecting an existing product, you can think about perfecting an existing business. Lets say you want to start a landscaping company, even though there are many landscaping companies already out there in your local area.
Here’s an idea –
You need to do a better job online then every other landscaping company (your competitors) in business in your local area. I have noticed most every single landscaping company around me where I live has no online store front. So for the people like me, who look for information online, there is huge market and potential right at your finger tips.
You are not having to reinvent the wheel, or coming up with some huge new idea – you are just taking what is already out there and doing a better job at it. When you are thinking about starting an online business, keep this is mind.
So to my programming friend, I gave him the suggestion/example of taking advantage of cell phones, like Blackberries and iPhones, creating custom applications and programs that would allow people to do more with them. When you think about how much money the iFart app has made, its just (no pun intended again) gross! Just with that one suggestion the light went on and he already is working on an iPhone app that I think is going to be a game changer. I will use it for sure!
Got something to add?
Got any examples or ideas that you have come up with, or can add to this conversation to make it better? Let me know. This blog gives comment luv, and links back to your latest posts for taking your time to participate!