It is true that the topic of being your own boss brings with it a myriad of benefits, such as financial and personal improvement, but usually, when this information is shared, it is accompanied by quite generalized advice or quite diminished modern business opportunities. The reality is that it is possible for everyone to grow financially by creating the right conditions.
When referring to “conditions” it is talking about establishing profitability parameters that allow entry to the market. No matter how large a company is, there are few cases in which it can satisfy the customer’s needs one hundred percent. There is always a void in the operation that allows someone to profit from it. If conditions are created that bring together the demand for that void and the necessary mechanisms to generate profits, a profitable business is born.
This is applicable for any scale in business magnitudes and also in any area. Every large company operates offering products and services that best suit its conditions, leaving aside an infinity of these that could easily generate profits. It happens for many reasons, such as, for example, it is more profitable for them to focus on other products, their staff is limited, or their way of operating is not efficient enough to meet this demand in the time required.
The point is that even if a large company decides not to provide a service or sell a product, it does not mean that it is not profitable. Maybe not for them in their specific situation and operating conditions, but with the right market and operational conditions, they could be infinitely profitable. Nor does it mean that the same products as these companies cannot be offered. These products should only be chosen in a way that they meet the profitability conditions.
In the United States there are many large companies with franchises around the American territory that are dedicated to the maintenance of commercial and residential carpeting. Although the first instinct is to assume that this market is depleted, in reality it is an industry that allows new companies to enter the market every day and be successful. This is because for large companies, it is very difficult to keep up with demand. This happens because it is a not very flashy work industry and with irregular hours that makes the hiring processes quite slow – this is where you can see how the conditions lend themselves to undertake in a fairly lucrative industry with constant demand.
Also, there are department stores and supermarket chains where you can get virtually everything. However, there have been countless companies that are dedicated to selling the products or very specific or that are not profitable for these chains for different reasons.
It is in the service area where there is more room to create favorable conditions for success. The client pays for something that they don’t know how to do, don’t have time for or don’t want to do. To enter the service area, you only need to know or be willing to do something that meets those parameters. Repairing industrial equipment requires great knowledge. Caring for children requires other types of knowledge, qualities and skills. Even if they have different requirements, both could be infinitely profitable with the right business model and the right marketing strategy no matter what scale you start at. In many cases, services do not require a large initial investment and operating costs are quite low.
In conclusion, you should not always do what is sold as innovative. Sometimes what has always worked can be emulated, improved or adjusted for a specific market. This does not mean that you cannot grow by doing what for many is more of the same. Remember that the fact that there are companies generating large amounts of money with a product means that there is a clientele willing to buy it and they will surely be able to appreciate the improvements and amenities that can be offered. It all depends on the willingness to grow financially and gradually create the right conditions for success.