Being a successful entrepreneur isn’t always about coming up with a fantastic new idea or invention that everybody needs and sitting back to let the flood of money come in.
Mostly it’s about taking an existing idea and improving an aspect of it that isn’t working properly.
Perhaps the initial design can be improved. Many copycat products succeed this way because they build and improve on the original.
If the service is poor then you can make a successful eCommerce business out of it by offering the same product but accompany it with superior service.
And if the marketing is not up to scratch then this is where you and I come in as internet marketers to fill the void and improve the bottom line.
When you look at all the advice there is out there on internet marketing, particularly when it comes to choosing a niche, most of it glosses over the fact that most of what works is already known. It is improving the execution of the marketing plan, landing pages, Google AdWords Headlines and general SEO that gives you the market advantage.
Internet marketing is very simple. You try something, you get results, and you improve the recipe or move on to making something else.
All the while adding value to the original proposition.
It’s not important to keep trying to dream up the next big thing or come up with some fantastic new idea that no one else has thought of. Considering the amount of human intelligence focusing on those aspects of the Internet right now the chances of you having a better idea are slim pickings indeed.
But improving on an existing model – that is very easy to do.
A few years ago I was sitting in the pub with Mike and Karen, I think it was “The Boot” in Whittington near Oswestry, and the jukebox had just finished playing “Inside” by Stiltskin. Yes, folks, it was that long ago, 1994 in fact, Kurt Cobain committed suicide and Lisa Marie Presley married Michael Jackson that year.
Mike was trying to tell anyone who would listen of his latest brainwave to make money. Mike always had ideas to earn money.
“You know these new wheelie bins you put your rubbish in?”
We all nodded. The wheelie bin was becoming commonly adopted, and now we had our own shiny new bin on the driveway.
“Well they’re going to stink, aren’t they? People are going to pay to have them cleaned. We get a van and charge £1 for cleaning the bins once a month.”
As far as Mike’s ideas went this one was one of the best of his “cunning plans”, even though at the time we thought it was hilarious, but we never did do anything with the idea and forgot about it.
Now of course everytime we see a wheelie bin cleaner go past we are reminded of what a great business idea it was.
RIP Mike Abercrombie
What great ideas have you passed up or never worked on? Let me know in the comments