Saw some pretty accurate guesses from yesterdays post.
Here are the respective businesses from those ideas:
1-Â Â Â People will pay for music that is 15 seconds long
oÂ Â Â Ring-tones, a 6 billion dollar market
2-Â Â Â People will pay much higher prices to save 1-5 minutes for food, household goods, etcâ€¦
oÂ Â Â 7-11, a multi-billion dollar company
3-Â Â Â People will pay you money to hurt themselves
oÂ Â Â Cigarettes, a multi-multi-billion dollar industry
Normally when you read these ideas you would never believe they could grow so large. I am sure people felt the same about the computer among other things when they first heard Bill Gates say everyone will get one on their desktop.
This comes back to the gut-call that a few entrepreneurs really believed and saw the potential of a market and attacked. I think normal business formulas would probably say that these investments or businesses would never pan out. What does it all mean? I would just say ask your gut sometime when making a decision.
What other businesses did we not expect to succeed so well?