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Struggling for ideas? Niche Down and Innovate

Idea threads

RazorCut

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Struggling for ideas? Time and again we hear the words not to reinvent the wheel. Take a concept, a successful business, a physical product, or business model that you know works and improve it, add a twist, or apply it to a different situation or marketplace.

Many years ago small scale entrepreneurs got together with local farmers and started hawking round veggie boxes door to door. Their hook being fresh local produce, (often exclusively organic) delivered weekly for a set price. This worked quite well with the British public and probably wasn’t new as the UK once had a thriving network of milkmen delivering milk, eggs, cheese, orange juice and lord only knows what else to practically every doorstep in the land. A business that still continues but at a tiny fraction of the size it once was.

Fast forward to today. The veggie box still operates but now supermarkets deliver your whole weeks shop, and small specialist butchers and fishmongers have harnessed the power of mail order, shipping top quality meat and fish packed in insulated containers.

One I use focuses on the protein element and have tuned in to the bodybuilding niche to offer not just their chicken and lean beef products but also a whole range of protein rich foods and snacks.

Talking of snacks other small businesses have sprung up to fill the need for a healthy daily snack. Be it a fruit and nut mix or even a high protein/low fat locust bar or flavoured mealworms.

Snacks are a big business so it was not a surprise when I came across this site this morning:

https://rubyandduke.com

Monthly snack boxes for your pet.

Others, taking note of people’s lack of time, provide a range of quality fresh or frozen meals or ready prepared ingredients for a recipe of your choosing.

If you look with a carefully eye you will see that the secret to success is not just innovating but also niching down.

Don’t be average to everyone, be brilliant to a few.

Just be sure you can reach enough of them to make it viable. The world is a competitive marketplace, there is no future in mediocrity.
 
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RazorCut

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Oztrepreneur

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Cut them in half and turn it sideways and you have $160,000 opening order.
Yep amazing, goes to show it is perceived value and we truly won't know until we expose our ideas to the market. I suppose this is where execution after execution wins. Execute until the market tells you, you are producing value!
 

RazorCut

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Yep amazing, goes to show it is perceived value

Seems there are a number of Kickstarter projects that have something similar already on the market for a fraction of the asking price and yet still do well. I think @Vigilante mentioned some recently.
 
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Imgal

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This should be Lesson 1 in Entrepreneurship 101. If people aren't taking action after reading this... well there's something wrong with you!
 

RazorCut

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Imgal

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Make a list of the most boring products / essentials you can think of. Go and spend a day looking them up on Kickstarter and seeing the twists people are doing on them and if you don't come away with improvement ideas and pivots on concepts galore for the next 10 years then there's something very wrong with you! Still getting re-energised each time I read that @RazorCut and I'm not even after a new project!
 
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