Want to do something different? Don’t bother
September 23, 2006
Many people tell me that they would love to start their own business, but they’re looking for the right idea. Or worse still - they’re waiting for the right idea to come along.
Now, I’m not saying that you should jump into the first business idea that comes up, but don’t waste time waiting for ideas - you don’t need to do something different, you just need to do it better, or find your competitive advantage.
For example, are the laundry businesses in your area mediocre at best? How could you provide a better service? Do you find it frustrating that there are no pizza delivery companies in your area? Find out if there are plenty of other people who feel the same way - and would use the service if it was available, and just do it.
Successful businesses do well, because they fill a need, and they do it well. You may well have come up with an idea for the world’s first motorised space hopper, but is there really a need for it? And, would you want to risk your life savings finding out?
If you don’t believe that you can build a successful business, by starting an fairly ordinary type of business, such as the ones out there already, consider Richard Branson. Mr Branson wasn’t the first person to put a plane in the air, but he has become a billionaire from doing just that. He filled a need, and he had a competitive edge. People pay more to fly with Virgin because he has made it a fun airline to fly with.
So, of you go - stop worrying about having the next big idea. Study the businesses in your area, and work out how you could improve them. Then once you’ve done your research, just go for it.
