What are the most useful business startup ideas?
His flight from Puerto Rico to the Virgin Islands was cancelled. He hired a plane, rounded up all passengers who were supposed to be on the same plane with him to Virgin Islands, filled up his first plane and charged each passenger $39 one way to British Virgin Islands (BVI). That’s how Sir Richard Branson started Virgin Airlines.
In the late 1970s there were no intercity coach services across Scotland. Whenever he visited Arthur Andersen’s clients, Brian Souter noticed the non-existence of intercity bus services and the untapped demand with the expansion of the oil industry. The Stagecoach Group plc was founded in 1980 by Brian Souter, his sister Ann Cloag and her former husband Robin. It’s a transport group based in Perth, Scotland. It operates buses, trains, trams and express coaches in the United Kingdom.
He read a report about the future of the internet. It projected an annual internet business growth of 2,300%. Jeff Bezos did his own research and found out that of all products that could be sold online, books were in demand, would sell quicker and would bring in more profit. Thus, Amazon was born.
If you clearly study all the businesses above and others including but not limited to: Microsoft, Facebook, Uber, AirBnB, Apple, Google, eBay, Alibaba, and PayPal, they share common things in the way they were born or got started. The people that started them share common personality traits as well.
The most useful business startup ideas may be inventions, innovations, disruptive or copycats, but the way they were born or created is almost the same.
Inventions are like this: you and your ancestors have been drinking water since life began. One hot summer day you are sitting under a tree holding your cup of hot water. Wind blows and leaves fall into your water. You drink the water after a minute or two and it tastes different. Everyday you boil these leaves in water and drink. The leaves happened to be tea leaves. You like the taste and the feeling you have after drinking it and you introduce it to friends, family and enemies. You have accidentally discovered and invented tea.
Someone with an innovative mind comes and adds sugar to your tea and sells it to other people. That person has just added something to a thing that was invented already.
AirBnB is the largest hotel business in the whole world but it does not own even a single hotel. Uber is the biggest taxi company in the world but it does not own taxis. Facebook is the biggest media company worldwide but it does not produce it’s own content. When I say largest or biggest company I also mean in market capitalization and company share price. These are disruptive businesses.
What do all useful business startup ideas have in common?
All successful useful business startup ideas solve problems. People want solutions to their problems. They are always ready to buy themselves out of their problems. Thus, never come up with an idea that coerces people to buy into something. Rather come up with ideas that enable people to buy out of their problems. People want to live easy lazy lives. Find solutions to their problems and you are in big business.
I can hear you asking, “So, how can I know people’s problems?”
Have a pocket size problem diary. On the first page, list your own problems. Be a problem man or woman by listing in your diary every problem in your house, at work, on the bus, on the train, in the toilet, and everywhere.
Decide on which problems you can solve and even if you can easily solve them, ask yourself, “Am I passionate about it?” If you are not, don’t. Keep on searching until you find one you are passionate about.
Successful useful business startup ideas fulfill a lack of service or product in a particular area. Sir Richard Branson noticed the lack of a plane service from Puerto Rico to British Virgin Islands due to cancellation and he quickly hired a plane to fulfill that lack of service. Brian Souter noticed a lack of service and acted fast.
Furthermore, wherever and whenever people are complaining, there are business opportunities. Business opportunities come from people’s complains. I would suggest that you have another pocket size diary called a complains diary. In it, write down every complain you hear at work, at home, in the shops, in the restaurants, on the train, on the bus and everywhere. These are all business opportunities waiting for you to take action.
In doing all this, always improve your knowledge by reading as many books as you can. Always learn, listen and ask questions. Never forget to innovate and challenge the status quo at all times.
In conclusion, I give you Sir Richard Branson’s quotes:
“Business opportunities are like buses, there’s always one coming.” Sir Richard Branson.
“Do not be embarrassed by your failures, learn from them and start again.” Sir Richard Branson.
“You don’t learn to walk by following rules. You learn by doing, and by falling over.” Sir Richard Branson.
What are the most useful business startup ideas?
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