For the past week, I have been vigorously going through any idea that popped up in my head regardless of how absurd or ridiculous it may sound. But so far I haven’t found one that I can fully monetize. I am at a point where I am starting to feel a little frustrated.
The following are some of the ideas that seemed to be very close to the mark:
(1) Teaching old people how to use internet whether in a group in old age homes or personal one on one lesson. The problem is that it’s difficult to do through a website. Therefore, additional resources are required like a car or use of cloud, both of which I can’t afford at the moment. Furthermore, there are face to face free evening lessons available in public schools as part of the government initiative to teach old people. I am not sure if people would pay for it.
(2) Drop shipping stationery supplies such as diaries, refills and planners. After working for 5 years in a similar retail environment, I know how hard it is for people to get their hands on these things, especially if they are a little late. For example, if someone didn’t get an yearly diary/planner before March, it would almost be impossible to get. You might get financial year ones, but not for the full year. Again, I am not sure how many people would like to have such planners considering they won’t even use the first few months of the planner/diary. Besides, there are too many websites for similar products and therefore, it’s a tough market to penetrate. There are even services where a few hundred templates are available that allow you to customize your own planners.
(3) A lot of the times, parents are unaware of items on their child’s school list and they have to run around to get these items. A seasonal website that would not only have information that explains what the various products are, but also supplies most of those products. The only problem is that I am not sure if I will be able to compete with Officeworks that provides this service free of cost. However, the one advantage is that parents are usually asked to drop the school list and then pick up the finished list from their stores, so at least I will be able to save them two trips. But would that be enough incentive for them to pay a fee in return, is hard to say.
(4) Using cloud or skype, to help people assemble their own furniture. Most people pay so much in assembly and wish if an expert can walk them through the whole instruction booklet for a meager fee. For example, there is a call out fee of $35 just for getting the assembly people to your house. And never ever will it cost you any less than $70, no matter how simple of a thing you would like to get assembled. No flaws in this idea except an assembly expert will be required at the leisure of the customers and I might have to pay him most of the earnings.
(5) An ecommerce website where the items change with the season and only the best selling items of each season will be made permanent. For example in the summers, we could have beach wear, sunglasses, barbeque grills,etc but most of this range will change for the next season. People can also send us their suggestions as to what items would they would like to see as part of our next catalogue. The items could be part of any category ranging from apparel to sports gear (for cricket in summers and footy in winters) and from home décor to various electronics. But I might not be able to use drop shipping since it takes a fair bit of time to get the products and the season might very well be over by then. This is where inventory storage is going to mount additional costs for me.
All these ideas are viable but I am still very skeptical about their execution. I really love the last idea since its simple and yet dynamic. Sometimes I feel I could be as courageous as Richard Branson who says “Screw It, Lets do it”.
What do you guys think??? I would love to get your opinions on this matter!!!