One of the fastest ways to make money is by tapping an under-mined business niche. Some of the biggest success stories in history come from people who went looking for an answer to a problem, and when they couldn’t find one, created the solution themselves. Were they the first people to have the problem? No. But they were the first to do something about it. And by providing a solution, they made money…and history.
via sideroad.com
Covers a couple of old and fascinating stories including the birth of blue jeans.
Notes:
- Levi Strauss was in business supplying apparel
- The gold rush presented a new opportunity
- He and his partner explored and exploited the opportunity and created an innovative product and a business out of it
This is one method of finding a niche. There will be others and I will blog about them.
Meta
How I stumbled on this story. I recently read a book called Start Small, Stay Small a book about creating products for small niche markets. The concept was a fascinating one, since I always created products from scratching a need or from tracking technology changes. So I decided to find some stories of finding niches and blog about them. This is the first one that came up in a Google search “opportunity mining”.
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