Do You Need a Unique Business Idea? — Business Growth Ideas

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Taking more risk offers the possibility of more reward. This is as true in investments as it is in life.

It’s also true when it comes to business ideas. Well, most of the time at least.

The more every day or normal your product is the lower your chance of failure and the lower your chance of exponential growth. The more unique or dare I say crazy your idea is, the higher the possibility of shooting the lights out or failing miserably.

Let me explain…

let’s take something mundane such as toilet roll. Most people in the western world cannot fathom living without toilet paper. It’s also very difficult to make it unique. Yes, you may have a preferred brand but if it’s no longer on the shelf you’ll just pick another one. You probably never even noticed what brand the restaurant or hotel uses because it doesn’t make a difference in your life.

There is a guaranteed market for toilet paper so if you started selling it you will surely find some customers. The only problem is that it will be incredibly difficult to differentiate your product and make any real margin. You might find that it’s so commoditised that you can’t turn a profit without any significant scale.

Let’s look at a more unique idea