Drop Kicking The “Big Idea”… Kung Fu Style!

Friday, 1:43 AM

I’m taking Wing Chun lessons, which is the Chinese style of fighting the dude on the right made very famous.

Bruce Lee found a MARKET to cater to, and he offered that market something it was already enjoying, but he gave it to them in a way that no one else at that time could match.

Almost all Kung Fu movies back then were shot and sold in China and Japan.  Most of them involved weapon and sword fighting, and used unrealistic effects.

Bruce Lee came long, and made them into hand-to-hand combat scenes with lightning fast kicks, and made the fighting sequences seem much more REAL.  And then, he took it to the US where Kung Fu flicks really didn’t exist, but he knew there was a demand for them.

The best advice I’ve gotten in building a profitable business online or offline, is to find a market that already EXISTS, make sure people are already buying in it, and then offer them something similar to what they’re spending their money on… and make YOUR product BETTER.

If it’s a highly competitive market, or there are serious barriers to entry, reconsider.

If there are NO players in that market, the thinking will be that it’s a huge opportunity, and you’ll feel giddy as a school girl at the possibilities.

However, it’s a big red flag…

Chances are, there’s a reason why no one is competing in that market.  It’s counter-intuitive thinking, but it makes sense! The false notion is that you have to create something new or something no one has ever thought of to go make millions with it.  TV shows like “The Big Idea” feed into this misconception.

But statistically speaking, your chances of making it big with a brand new, fresh invention are close to 15%… VERY low (can’t remember where I read this stat).

Granted, the payoff is huge if you get lucky and offer something that people actually fall in love with and want to spend money on, but that’s rarely the case.  You might as well go to Vegas.

Inventing something fresh is trying to create a brand new market that doesn’t already exist, which is extremely difficult to do.  That’s why the Thomas Eddisons and the Henry Fords of the world are rare.

If there’s a market niche that already exists with only a handful of competitors, the barriers to entry are low, and the competitors are making a lot of money… bingo.  You got yourself a potentially big opportunity in front of you.

Now go get rich!

- Shiraz

aka Mr. Nocturnal

P.S. Post up a comment, ask a question, or share your thoughts below… do it now or I’ll roundhouse kick you in the gut.