Innovative business ideas have a way with sticking in the minds of those who have witnessed their rapid rise…or rapid downfall. Even if they’re not successful, they share one common trait: they are the first of their kind, unique, perhaps even shocking.
Implementing innovative business ideas is often done without much market research. Sometimes businesses end up evolving in a totally different direction than the one they were expected; other times they fail utterly; some are created just to make a point. Whatever the reasons, whatever the outcome, it takes a lot of courage and determination to start something like that. Here are some examples of successful innovative business ideas:
1. Levi Strauss started his business selling jeans to miners during the Gold Rush. Eventually they became extremely popular, as we can see today. Who would have thought?
2. eBay was not intended to become the phenomenon that it is today. The idea of buying and selling anything legal was so appealing, however, that it drove it to become the largest and most popular site of its kind in the world.
3. Apple revolutionized a couple of industries. But when they started it, Wozniak and Jobs were certain they’ll close shop pretty quickly. In fact, Wozniak thought they won’t even manage to recover their investments.
4. Music videos were initially created as tools through which artists could market their albums. In time, however, more and more money and effort began to be put into them, and there are companies who make a profit by broadcasting these videos.
5. Low-cost airlines came as a surprise to many, but they made flying cheaper, opening the door for many new customers interested in just the getting there, not the extra services.
6. Social media platforms were initially designed for less wider use. However, the idea caught on and today they have hundreds of millions of users.
7. Pet salons and pet hotels probably sounded like a wacky idea when the first businesses were launched, but people’s love for their pets has made them increasingly popular.