Okay, too much copyright reading, so had to give my first headline a shot. 30 Day Challenge, anyone?
From a past idea thread I came across the concept of examining the Inc 500 list and looking at companies that are growing exponentially that you could add a twist/improvement to.
To take it a step further, you can look at the businesses that are growing the fastest with the fewest number of employees (if you don't want a biz with tons of employees) and can also segment into different industries (where you may have some level of experience).
Has anyone taken this approach all the way from starting with research to launch? I know most contributors say to get out and talk to people to discover needs and opportunities wherever they may be. I think another way of creating opportunity is to narrow your research by picking one of these businesses and talking to their customers about what they like/dislike would change, etc. You can also talk direct to the businesses to see what their pains/needs are with such rapid growth.
Many of these businesses are limited to their geographical location as well (home care in FL for example), so there is opportunity to replicate where you are.
Another opportunity I see is with a CA company called Cartagz - consistently in Inc 500. They only operate in CA and I could see their model being replicated in other states. The high barrier to entry is working with the government and getting that contract. Here's a blurb about their biz:
"Founded in 2008, Cartagz is California’s leading online vehicle registration company, helping Californians avoid trips to the Department of Motor Vehicles (DMV). Every month, thousands of vehicle owners save time through Cartagz’s online services, which include annual registration renewals; title transfers; parking/toll violation payments; and lost sticker, registration card, and vehicle title replacements. The company also offers next business day delivery on completed orders, same-day e-copy of new registration cards, and commercial fleet compliance. And for a minimal fee, customers can look up DMV fees instantly and transmit and post fees straight to the CA DMV system in real time. Licensed and bonded with the California DMV, Cartagz is officially authorized to perform these transactions and issues DMV stickers and validated credentials directly from its central office in Elk Grove."
Curious to see if this has been successful for anyone?
From a past idea thread I came across the concept of examining the Inc 500 list and looking at companies that are growing exponentially that you could add a twist/improvement to.
To take it a step further, you can look at the businesses that are growing the fastest with the fewest number of employees (if you don't want a biz with tons of employees) and can also segment into different industries (where you may have some level of experience).
Has anyone taken this approach all the way from starting with research to launch? I know most contributors say to get out and talk to people to discover needs and opportunities wherever they may be. I think another way of creating opportunity is to narrow your research by picking one of these businesses and talking to their customers about what they like/dislike would change, etc. You can also talk direct to the businesses to see what their pains/needs are with such rapid growth.
Many of these businesses are limited to their geographical location as well (home care in FL for example), so there is opportunity to replicate where you are.
Another opportunity I see is with a CA company called Cartagz - consistently in Inc 500. They only operate in CA and I could see their model being replicated in other states. The high barrier to entry is working with the government and getting that contract. Here's a blurb about their biz:
"Founded in 2008, Cartagz is California’s leading online vehicle registration company, helping Californians avoid trips to the Department of Motor Vehicles (DMV). Every month, thousands of vehicle owners save time through Cartagz’s online services, which include annual registration renewals; title transfers; parking/toll violation payments; and lost sticker, registration card, and vehicle title replacements. The company also offers next business day delivery on completed orders, same-day e-copy of new registration cards, and commercial fleet compliance. And for a minimal fee, customers can look up DMV fees instantly and transmit and post fees straight to the CA DMV system in real time. Licensed and bonded with the California DMV, Cartagz is officially authorized to perform these transactions and issues DMV stickers and validated credentials directly from its central office in Elk Grove."
Curious to see if this has been successful for anyone?
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