Discover a Business Idea That Works

There are plenty of good business ideas floating around, and not all of them are unique. In fact, new companies successfully go to market in saturated industries all the time, and most aren’t especially disruptive. Some just take advantage of a humongous market.

Entrepreneurs in the food and beverage space, for instance, know that people will always be hungry and thirsty. Most consumers have countless options to choose from when they want to meet these basic needs, but if a new product stands out whether because of superior taste, branding or nutrition they’ll often reach for it.

Or take the multibillion-dollar market for razors. Entrenched players with colossal advertising budgets had dominated the space for years before Dollar Shave Club came along. And founders Michael Dubin and Mark Levine didn’t need to invent a revolutionary new product to grab market share and attract venture capital.

Instead, they took a slightly different (and arguably more modern) approach to delivering their products to the market -- via monthly subscription -- and rode the momentum from a viral marketing video to a billion-dollar exit not even five years later. Dubin and Levine had an idea that was already proven to be viable, and they came up with a unique value proposition to sell it. Multivendor digital marketplace

The quality of their razors and the convenience of their subscription service are the factors that helped them stand out. Easy enough, right? The problem is, it’s also pretty easy to stumble across nonviable ideas, and plenty of inexperienced founders (and experienced ones) have chosen to pursue the wrong idea.

After hosting the group for a few months, he began to detect a pattern. “I noticed a recurring discussion being posted several times a day," Kiel says. “Boaters were asking for recommendations on whom to trust to work on their boats, docks and boat lifts.” That’s when he had the idea for his startup: a platform that connects boaters with trusted marine professionals.

You may not be ready to pursue a business idea tomorrow, but you’d be wise to insert yourself into social media communities related to areas you’re passionate about today. Join or start a Facebook group, as Kiel did, or look for a subreddit in your area of expertise. Search hash tags or keywords associated with your industry and interests.

Instead of scrolling past people’s complaints on social media, stop to read them. You never know when a trend could become visible or an idea could strike. Don’t say that to the Hangover Helpers. Based in Boulder, Colorado, these two will show up at your house the morning after a wild night, hand you a burrito and Gatorade, then promptly clean every room that suffered damage.