You’ve got a yearning to build something. It’s an insatiable desire to take a spark and fan the flames until it’s a full-fledged, thriving business. In your mind’s eye you can see the success of it. That doesn’t mean, however, that you’ve put your finger on the exact idea that will lead to a successful endeavor.
Not everyone with entrepreneurial aspirations finds their way to the mantle of successful business-owner. How do you get there?
Years ago, my son had an idea for a business: he was going to open a restaurant when he was older. He has a long list of severe anaphylactic food allergies making it next to impossible to safely eat out in a restaurant. He also has a black belt in Taekwondo. His vision is that the restaurant staff will stop in between courses and do Taekwondo demonstrations for the guests. While you can’t find that eatery (at least not at the moment), you can find the business that conversation inspired, The Allergy Ninja.
As a small business, Allergy Ninja provides a product line of allergy-friendly skincare products, as well as articles on advocacy and allergy awareness. Sure, there isn’t a restaurant full of ninjas breaking boards and demonstrating their martial arts forms. That conversation, however, did get us thinking about other gaps that are hard to fill for those living with food allergies. Lip balm, body lotions, and serums that didn’t use common food allergens were one of those gaps, and Allergy Ninja stepped into that space.
For as long as I can remember, colleagues would seek my input with career and leadership questions … even the senior executives. A great time of each workday was spent providing answers and insights to leaders. Connecting people and businesses to their true vision, purpose, and passion came naturally. Not only that, helping people alight on a path to their greatness brought joy. I had a passion for coaching. Building on that foundation, I launched my business, wrote a book, and established a reputation as a public speaker. Of course, it takes work. Simply being passionate about something doesn’t yield business success. It is, however, a start. What are you passionate about? How can you build a career on that passion?
What are you good at? You know that thing that others seek out your help for. Even better, what is that thing you’re good at and enjoy that others would rather pass off to you rather than manage it themselves? That thing. That’s got business potential written all over it.
Maybe you’re great with numbers and you love the challenge of making sense of the financial books. Maybe you’ve got a certain flair for building an audience on social media and turning those clicks into buying customers. How can you translate those skills into a business that supports other companies well? Do you enjoy organizing and cleaning? Can you convert your gift for getting things in order into a business that helps households gain back some time by paying you to clean and organize for them?
Charles Burford’s wife was frustrated with how difficult it was to keep bread fresh in the paper bags typically used to store a loaf. Standard methods of using paper clips and rubberbands to ‘seal’ the bread bag shut didn’t do much to keep the loaf from going moldy and stale. Charles saw a problem – not just one that annoyed his wife, but one that plagued bread lovers everywhere. He set out to find a solution and created one that used a simple coated wire that could be twisted around itself to create a temporary seal.
Yes. Charles Burford invented the twist tie to solve an annoyance. He invented a lot of other things, too. You can read more about this prolific, serial inventor in his 2013 obituary.
The world is full of unique (and not so unique) business models that have proven themselves effective within certain verticals. Can those models be adapted to better deliver a service or product that taps into your specific skill set or another market? Warby Parker built its business on the Direct-to-Consumer model. Today, the retailer gives their customers the option of trying on frames at a physical retail location or via it’s original “Home-Try-On” program. Behind the scenes, however, the real meat of their success lies in their ability to remove the middle man between the product they create and the consumer they sell to.
Roots of this business model can be found in mail-order catalogs and manufacturer owned retail outlets. Warby Parker, however, revolutionized the model for the modern age. Other businesses have taken note and moved DTC modeled businesses into other verticals. Companies like Hers/Hims, The Black Tux, Harry’s, and Casper Mattresses are just a few of the examples. Your goal isn’t to be the “Warby Parker of [your industry.]” But you can certainly draw inspiration to offer something already available in a new way.
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