What’s New?

You say tomato

Can you make your product smaller or sell a service in a tiny unit like 15 minutes of time? When you take something big like renting a car for a day and reduce it to renting a car for 30 minutes, you have something NEW.

Big idea

Can you do the opposite of miniaturizing and offer something much bigger? What happens when instead of selling services by the day you sell a subscription for 1000 hours over the year? What happens when you take a category (chocolate candy) and instead of following the crowd, you make over sized truffles for three?

Finding gold

 If you already sell a product that meets the qualification for a special segment (Gluten Free Crackers), maybe you market them to people who aren’t wheat or gluten sensitive but package them for a different audience. (Eg. consumers who want low-calorie crackers). If you are a financial planner, maybe instead of going after people with high net worth, you focus on seniors in college who are at top schools and have the potential to become high net worth clients.

Habla Espanol

Maybe you can repackage exactly what you offer but you do it in a new language trying to reach a portion of the market who you literally don’t talk to? What happens if you sell graphic design services but you target Hispanic business owners? If you speak a second language, don’t miss out on a secondary market that could be a new customer base.

Driven to a higher end of the market

Some products and services are stripped down to make more affordable. What happens if you add some bells & whistles to service the high end of a market. If you are a car wash, could you offer to pick up a car, do the detailed cleaning and return by the end of the day? Are there folks who would pay for the convenience (and status) of having their car (and ego) shined up?  Could a Heating & Air Conditioning company have Silver Elite service that costs extra but provides 24/7 priority service like first class on an overseas flight?