Have you ever thought about starting your own business? Did all business ideas and suggestions feel a bit 'samey'? Opting to create a new business in an unusual or niche area is risky, but there are many successful companies out there who have proven that out of the box thinking really can work.
Solving a problem
Many of the quirkiest businesses in the world came about by looking at a problem that needed solving. Have you ever come across something that drives you mad on a daily basis? An issue that interrupts the flow of your daily life, at home or work? If you can come up with a solution to that problem you could have the seeds of a successful business. For example, silent fireworks for people with pets could become the next big thing if someone can make it happen.
AiroLuggage is a real example of a business which saw a problem and a gap in the market and came up with a solution. How many times have you struggled through an airport laden with bags, moved to a new home, travelled abroad or had to send something big and bulky and wished there was someone to do the donkeywork for you? That idea came to Airoluggage and a business was born. They have demonstrated how well thinking outside the box can work.
Any business needs to be based on solving a problem or meeting a demand. This does lead to hundreds of companies competing to solve the same problem. How many companies can you find on the internet providing search engine optimisation for example? In order to be a real success in the current climate, you need to come up with a unique solution.
Where and how
As Monty Python states, nobody expects the Spanish inquisition and to be fair nobody expected a global pandemic that would drag on for nearly a year. But that is where we find ourselves right now. One thing the pandemic has highlighted is the 'where and how' of a business can make a difference to its success.
Companies that have been able to adapt their where and how and continue operating despite lockdown are thriving. Those businesses who, for whatever reason, have found themselves stuck in their old, fixed ways of working and who are hampered by their location have struggled.
There are many accounts of new businesses who have triumphed despite the adversity of the pandemic and lockdown. Often this is because they have climbed out of the box and started thinking differently. From restaurants who developed a takeaway and delivery service, to alcohol manufacturers who switched production to alcohol handwash and PPE.
It is not just about where and how you run the business. It is also down to how flexible you can be. During this pandemic, the buzz word for successful businesses has been pivot. This is where a profitable business adapts to meet the changing demands of the customer.
At the moment, many businesses are focussing on how they can help prevent customers becoming isolated and helping customers access services from their homes. However, in the future, this could change again. You need to build a business model that has the ability to pivot.
Sometimes you might not see the pivot until you are in the situation. The recent pandemic is a case in point and many companies started thinking on their feet and came up with some brilliant solutions. Many may never go back to their old ways of working. Their pivot has not only helped the business survive the pandemic but has provided unforeseen benefits. For example, many businesses previously sceptical about homeworking have seen that not only does it work, it also eliminates many of the overheads associated with having an office.
If you can build a business model that can offer a service in many ways and in different scenarios, you're sure to be on to a winner.
Copyright 2020. Featured post made possible by AiroLuggage