You Don’t Need To Create A New Product To Open A Small Business 

(3 minute read)

Creating a successful small business or a side hustle does not require the invention of a new product or service. If you are not innovative or original, don’t worry, there is still plenty of room for you in the small business world. The one thing you have going for you is the fact that many existing businesses have convinced themselves that if it ain’t broke don't fix it. They tell themselves that as long as their enterprise remains profitable, there is no need to make adjustments. This is where you come in, and capitalize. Anthony J. D’Angelo put it best when he said: “Don’t reinvent the wheel, just realign it.” Below, in no particular order, are some of the ways you can potentially impact the small business world with your own unique twist on an existing product or service.  

1) Make an existing product much simpler to use. Everyone will love you for it, except your competition.

2) Eliminate, or reduce, the number of bugs that detrimentally impact a product. Very few products or services are entirely bug free, but if you can dramatically reduce the amount of time consumers spend dealing with bugs, you immediately add value. 

3) Make the on-boarding process much easier and intuitive. If gaining access to a product is a headache or hassle, then create a pleasant user experience.

4) Remove, or reduce, customer pain points. Focus like a laser on reducing the problems that customers experience and they will reward you for it. 

5) Enhance customer security. In this era of cyber threats, security is peace of mind for many customers, especially those who have previously been burned.

6) Don’t share customers’ data. If your competition is selling their customers’ data, then emphatically set yourself apart as a company who refuses to do so. 

7) Remove features. If the competition’s features are obsolete, gratuitous or unnecessary, then offer a scaled down version which more accurately mirrors practical reality. 

8) Add features. If an additional feature(s) would significantly enhance a product or service it's probably worth experimentation. 

9) Enhanced customer education. If you can provide a service or product, and much needed education relative to its use, you are on your way to establishing brand loyalty. 

10) Market trends. If a market is on the cusp of being impacted, influenced, or disrupted, such as by pending legislation or the incorporation of new industry standards, there is likely potential for creative opportunity. 

11) Warranty. If the competition is reluctant to warrant its product or services, or resists honoring their warranties, then there is room for someone who will. 

12) Customer service following purchase. If the competition neglects customer service once the money is collected, then there is low hanging fruit to be harvested. 

13) Platform expansion. Is there a product or service that lends itself well to a specific platform, but is not yet availing itself of that platform? 

14) App creation. Is there a product or service that, for whatever reason, is not yet offered via an app? 

15) Niche cultivation. Is there a specialized niche or market that is not being served. Deliberately embracing a smaller market is sometimes the easiest, and quickest, way to build a brand and establish loyalty. 

16) Visual appeal. Has the competition failed to realize that while they do indeed have a marketable and profitable product, their visual appeal is simply awful? 

17) Distribution networks. Is the competition failing to utilize an existing distribution network that lends itself to the product or service? 

18) Demo. Would the creation of an effective and appealing demo significantly increase consumer interest?  

19) Eliminate risk. Is the competition’s product subject to misuse by consumers (using the product for a purpose other than its intended application, which is dangerous)? If a slight design modification eliminates the risk or enhances safety, you have your selling point

20) Messaging. Is your competition viable, despite the fact that their messaging is weak? If so, it might be time for a messaging takeover to pique wider consumer consciousness. 

Let's do this!