Can a business be based on a simple idea?

In News by Charlotte Noble0 Comments

Sometimes the best businesses are often based on the simplest ideas. They do not have to be overly complicated or first to market to become market leaders:

  • Google wasn’t the first search engine – it was simply the easiest to use and best performing. Originally, it was in a very crowded market, with competitors such as Alta Vista, Lycos and Yahoo.
  • Amazon didn’t (initially) stock the widest range of products – however, it took the department store online as an extension of its original bookseller platform. Simply put, Amazon has put the high street in homes.
  • eBay was a simple trading platform designed as a hobby to be the “perfect market”. Its competition was traditional boot fairs, and in turn, it developed to become a web store as well as an online auction house.

All of these businesses quoted above share a common theme. They are founded on a simple idea, which is unique and can be described to a child in a sentence or two. In the business world, these would be known as the ‘unique selling proposition’ and the ‘elevator pitch’.

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