Think about something that you have to do that is always a pain. Something that you don’t like to do, don’t look forward to, but always have to do. Your pain points can very well be business opportunities.
The voluminous amount of regulations, laws, taxes, requirements, licensing, restrictions, and inspections the government imposes on its citizens can be overwhelming. Many of us grudgingly take care of all these items, as painful as they may be, because it’s the law.
These same pain points offer incredible opportunity for businesses. If your business can solve some of the pain of dealing with the government, people will pay you for the effort.
Identify the Pain
In the great state of Texas, we have to get our cars inspected every year. This is usually a very painful process.
Many mechanic shops will have the official state inspector sign displayed on their buildings. However, since that isn’t their primary business, the sign is usually in place to lure you in for more pricey services. These shops are usually busy with other more valuable customers or the inspector isn’t always on site. These businesses neglect the small inspection sale even though it could lead to bigger opportunities.
Every year I have to find a car shop that will inspect my car. I usually have to visit one or two places before I find one with the inspector working that day. Then I have to wait an hour or more for the inspection to be done. This process is too frustrating and always makes me procrastinate my inspection to the last moment.
Solve the Customer’s Pain
This year was different. I discovered a small service station called “Sticker Stop.” Their tag line claims they are the “Home of the Ten Minute Inspection.” That, based on my past experiences, sounded too good to be true.
I asked a lady sitting next to me in the waiting room if they really only took ten minutes. She said “pretty close.” I asked if she had visited Sticker Stop before. She had and said they did a good job.
My experience was equally as great. I was in and out in less than ten minutes. I took me longer to drive to and from their shop than I was actually there.
Niche Focus on Problem Solving
Sticker Stop is succeeding because they do one thing and they do that very well. Their laser sharp focus allows them to serve a niche that itself was created by the legal requirements of driving in Texas.
What pains do you encounter that a business could help alleviate? The bigger the pain, the bigger the opportunity. Solve that problem and people will not only be happy, but will gladly spread the word to their friends.