ESYB2 130 - Exercise and Worksheet Get Unique and Creative Business Ideas
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[00:00:00] In this video, I want to introduce you to another way of coming up with business ideas, and that is to take existing business models in some industries and apply them to other industries. For example, our step one could be to document your life for the next 30 days to see what services you use, what products you use frequently so that you know how to use them and you're comfortable with them.

And, naturally, most people will use things like Google, Starbucks, maybe Uber, maybe some kind of a monthly delivery box, maybe Airbnb for travel, whatever websites, whatever services you use, those will be a great place to start. And then what you can do is start mixing and matching and combining ideas. So, for example, everybody has to do laundry, right?

So then, what if we take an idea from Uber and have people who want to do our laundry come to us? So Uber for [00:01:00] doing laundry, that's kind of unique. You know, it's hard to know if it's really gonna be a gigantic business at the end of the day, but at least it's one unique idea. Now, also in laundry, well, you know, what can you do with education?

You can create courses, books, educate people on how to not ruin laundry. Educate people on how to mix and match the colors, what temperatures to use, what are the best laundry detergents that are healthy. There's actually a lot of education that's necessary. So that's just one facet of our lives, right?

Just doing laundry. There's so many business ideas around that that are apparent. Also, you don't have to recreate the wheel. There are laundry mats you can open in your area if there aren't enough. And if you think that there may be a need. Now, what about something cool like, you know, a monthly delivery box?

What if you have a cool underwear gets sent to you each month and you have so much underwear [00:02:00] that you're able to reduce the amount of laundry you do because you just throw away a lot of your underwear. Like, wear it once, don't like it, okay, great, because you're gonna get new underwear sent to you each month, like, new underwear club.

Or, actually, because it's underwear, maybe weekly you get seven pairs, so It's a super luxury service where like just wear it throw it away wear it throw it away. It's always fresh Maybe it's too much. I don't know but it's an idea right and this idea actually gives rise to another idea Well, what do you do with all this wasted underwear?

Okay, you can kind of sell used underwear So that it doesn't get actually thrown away but gets used by people and as you can see there are many ideas that you can immediately come up with just within the topic of laundry when you use these common and proven business models by large existing companies.

You just take the existing business models and reapply them to an entirely new industry. And suddenly, you have a lot of new business [00:03:00] ideas. Similarly for florists. Let's say you're a florist, you work with flowers. Well, you can have Uber or Yelp for florists. Or you can have design ideas made by many, many floral design people all over the web.

Or, instead of hiring one florist, what if you create a flower design company, like 99Designs, that's a company that's for design, but what if you create a flower design where all these flower arrangers from all over the world will give you prototypes and maybe you can take that to your local florist and they can do that for you and you'll come up with a super beautiful floral design.

from the top designers all over the world, right, not limited by geography. So now that we've gone through two different examples, laundry and florist, what I'd like you to do for your exercise is to take another common industry, wedding planning, And come up with 5 to 10 business [00:04:00] ideas that you can borrow from other industries that are proven business models of other industries and apply it to wedding planning.

And in the next video, I'm actually going to walk you through my business ideas for wedding planning and you and I can compare our answers. Our answers won't be identical, but the goal for you should be to start to feel comfortable and fluent in coming up with new business ideas all the time, more and more effortlessly.

And the value of comparing yours to mine is just to see how yours are a little bit different, a little bit similar, and what you can take from my way of thinking and apply to yours. So try this now. Again, the exercise is come up with your own 5 to 10. new business ideas in wedding planning where you borrow business models from existing businesses.

And in the next video, I'm just going to show you my results.

