If you want to start something new, create a unique business opportunity or simply work on your idea you have in mind for so long, this could be something for you.
As we have learned recently in S1E3 – Defining entrepreneurship, there is no need for us to create something out of nothing, but rather combining existing business models in such a way, that something new will be created. Remember the commercial I mentioned? We are mixing things up, in order to create something new. But how is that related to the topic of disrupting markets?
This is where we can have a good start. In order to make this business we have in mind a success, we need to make money at the end of the day. Therefore, we need to have a market for our products and services, there is no way around that. While normal companies just work with the markets they can find, we don’t want to do that. We want to be unique in our way of doing it. We are taking the alternative route. Right across the jungle, left at the highest tree and backwards if necessary. We do something, others wouldn’t believe is even possible. Thinking outside the box? Yes, they are working on that. But we, we are thinking outside the whole situation.
In order to have success, there are multiple ways how to do that. But in order to start your business, disrupting the market is a good way to start with. Do something in a completely different way. Listen to your costumers and make their life easier. Find a combination of two or more completely different fields and combine them in such a way, that you can create and define a new market especially focused on your products. This can be a niche market, but you can also aim for bigger stars, if you want to.
But of course you need to figure out a lot of stuff before doing that, right? Well, actually you don’t! Just have a look at other companies that are already doing similar things, or even better, completely different things. Find out what they are doing to grow their business. What is their secret? Have they defined a new market, or are they just adapting themselves to the ever changing markets out there?
As mentioned multiple times in this blog already, I want to start building up a kind of a “life coaching program”, where I can focus on one specific person at a time, helping them to change their life in the way this blog tries to help you already.
If I have a look at the big market, there are tons of teaching and coaching courses like this out there. But, if I have a closer look at the market, I can instantly figure out trends. Want an example? Sure, here it is.
While the majority of these organization’s focuses on the masses, trying to reach out to as many people as possible at a time and teach them rather general information instead of customized and adapted support for not much money at all, there can be seen another trend, where professionals do customized one-on-one lessons with clients for very large amounts of money. Therefore it is either cheap and general information for a larger amount of people, or very expensive customized information from professionals. Well, while the masses can only be reached with online videos and e-learnings, combined with group conversations, the professional one-on-ones are more about the direct contact to the customers. Oh and it doesn’t matter which area of the market we analyze, for them, it is most of the time all about the money and not about really helping their customers to overcome their problems, fears, or what ever it is, because this is their main job. This is how they earn their money to survive.
So, why don’t I combine does two different approaches, and disrupt the market with something new?
Instead of having a class with a lot of people, I will take one client at a time, and instead of making it really expensive, I will make it cheap as hell, or even better, adapt the price to the situation the person is currently in, figuring out how we can actually find a win win situation for both parties. Instead of having fixed meetings, we can have flexible meetings. Changing the times spontaneously as you want to. This will be a life coaching, therefore it needs to be implemented into your life. It needs to fit your situation, adapt to changes on a daily basis and makes you feel good about it. But it also needs to be effective. It needs to really help you! So why should you pay for something that is not working? That makes no sense at all. This will work, because this will adapt itself to your life and not the other way around.
Very similar to the approach of Genrich Altshuller for his TRIZ program, I have seen the same thing in my daily life observations. It doesn’t matter where you live, or what you do. It doesn’t even matter how old you are, or what you want to achieve. The same problems seem to come up every time, all the time. So, if TRIZ is possible, then this is possible as well. If I can break these problems down into tiny tiny pieces, figure out the similarities and build up a course around dealing with these issues I will define, then this course can even be a general tool in the future, where the tool doesn’t need to adapt itself to your unique situation anymore. But this is really thinking the long run here.
For right now, I need to focus on finding clients for my second pilot study, where I will analyze their unique situation and how they feel, break it down into tiny pieces, and support them to overcome the obstacles in their life.
This can be called disrupting the market. Instead of having an interest in making a tone of money, I don’t want to do that. My inner drive for this project is to help people going through life. So, this will be the perfect combination between customized support and low costs. Of course this was just a short example and can vary of course if you want to produce a physical product, or what ever, but believe me, at the beginning, you need to define the market you want to reach with your products and then “just” make your costumers happy. Sounds so easy, right? But is actually not that easy at all.
So, if you are interested in testing out my life coaching approach, just contact me directly.
Well, this little thought experiment cost me literally not more than 20 minutes, but could be the perfect start for this project. Will it work? I don’t know yet, but that’s the fun part about it, right? Testing it out and seeing where this will lead the project to.
Maybe I wake up tomorrow and think that this is the most stupid idea I ever had until now, but well, in case that is true, I will just go on and find something new, but maybe just maybe this is exactly the project I always wanted to do.
See you next time!
Engineer, Motorsport Enthusiast, becoming an Entrepreneur, Author and just different