One of my big irritations (that I do not know how to handle) is when a friend comes up to me and says they have an awesome (often get rich quick) idea. Usually it’s something really stupid that no one is going to be interested in.
Everything thinks they have to invent the Next Big Thing to be really successful (and rich) and it’s just not true, and highly unlikely. Here’s a much better and easier option for you. Pick the most boring industry and do it better than anyone else!
Shoes are Boring
I was reminded of this from Seth Godin’s post on Zappos. In case you don’t know Zappos, they are a web retailer who only sells shoes. Think about that – selling shoes for a living (boring). Not only that, they sell them online, which seems like the worst product to sell online. Everyone wants to try on their shoes to see how it looks and determine whether it fits right. But they went against what most people would think of doing and are doing incredibly well.
Do It Better Than Anyone Else
The reason both of the above examples were so successful is they did it different than everyone else. They went against convention to give clients what they really want. That’s the real key. But I tell you what, I would rather come up with that new idea for a boring product than invent something brand new that will take a ton of money to build and might not even have a market yet.
One way I suggest doing it is create the most efficient, awesome process in your industry. Make it a great experience for your clients because you have refined your processes to the Nth degree. It’s not sexy or exciting, but it will differentiate you from the competitors in the industry.
Remember – no one wants a company that just lays concrete. But if you could be a business owner with a lot of money from that concrete business or a poor owner working around the clock for a new idea, what would you choose?