Inspiration Becomes Products & Services

I read an article on (and I am a loyal subscriber to Inc magazine) that inspired me. Years ago while at Wharton, one of my Entrepreneurial Management professors encouraged us to look for opportunities all day every day. Once you tell yourself opportunities exist everywhere, he said, your mind then begins seeking them out. After a while of reminding yourself to do this several times a day every day, it becomes second nature.  A lot of engineers and others in technology, especially younger companies, do this. But this admonition applies to everything. This is how Ikea was born. This is how the fad Silly Bands was created. This is how Wall Street continually creates new financial products and vehicles.

Here’s an excerpt from the article, Easily Access Your Files Anywhere:

“At a Boston bus station in early 2007, Drew Houston opened his laptop to finish some work while waiting for his bus. As he turned on his computer, he froze. “I could see my USB drive sitting on my desk at home, which meant I couldn’t work,” the 28-year-old says. “I sulked for 15 minutes and then, like any self-respecting engineer, I started writing some code. I had no idea what it would eventually become.”

What it became was the foundation for Dropbox, a free cloud-based file-syncing service that allows users to access and share their digital files, photos, and videos from almost any mobile device or computer. Today, Dropbox boasts more than 25 million registered users who save over a million files every five minutes. But that didn’t happen overnight.”

Businesses generate revenues and best serve their customers by providing solutions to their customers’ problems. Take some time each week to think about the issues your customers are facing and how you can improve, modify, or augment your existing product or service to provide a better solution. Or how you can create an additional product or service to solve your customers’ problems.