I remember a guy who used to talk about finding “the perfect thing”. He was always talking about coming up with an idea for a product or service and a selling method that would enable him to achieve a lifestyle he had dreamed of.
Slowly he began to form his concept and eventually came up with the idea for a security product in a can. Similar products on the market were not that effective so the entrepreneur obtained various ingredients from the United States where the product was used extensively and was legal.
When he had developed the perfect recipe for his spray can security product his next step was to purchase a filling machine from a manufacturer in Europe. At that time the cost of this machinery was twice the price of an average home. He scraped together every bit of cash he could, took out loans and bought the filling machine.
After he set up his small factory, he started selling to retail outlets that sold similar products. He also allowed anyone to purchase his security product for cash in any quantities they liked, the more the better. This move gave him a national network of resellers. The benefit for the resellers was that they could make income on the side and a handful turned their reselling into a full-time job.
His next move was to go for contracts with the police. Working with the government was difficult and time-consuming but after about three years, he realised big contracts.
Business was so good for this entrepreneur that after a few years he left his factory manager to run the business and he went to live at the coast and enjoy the fruits of his labour and ingenuity.
Are you searching for the perfect thing?
Do you yearn for some way that you can create a new business for yourself that will give you freedom in your life?
The story about the entrepreneur who began a business at home is that he was determined to find the perfect thing for him. He had a background in security and knew which products are on the market worked and which didn’t. He learned how to manufacturer from scratch.
All important was the business model that he came up with that gave him maximised revenue and helped his resellers make a living. Customers could buy a product that made themselves feel more safe in an increasingly dangerous world where other means for protection and defence were taken away from them.
Many people want to find the perfect thing but are they prepared to go all the way? It takes guts and determination and a clear vision that you have to hold onto no matter what odds you come up against.
PS I found an article by Richard Russell who writes the Dow Theory Letters, the oldest such service continuously written by one person in the business. The article is entitled “The Perfect Business”. It may have been published in the early 1970s but go through the 12 points and see how relevant they still are today.