A Million Dollar Idea
A million dollar idea
Last evening, I had the opportunity to visit my local Chamber of Commerce’s meeting, whereby they had approximately 52 tables set up by various local vendors. They called it “Sizzling Summer Business Expo 2009.”
They also invited all of the restaurants in the area to rent a booth and created an area outside the exhibiting area, just for those nibbling on the offerings from the restaurants.
Here are a few lessons from this experience…
The companies there paid $250 for a table, and no one…and I do mean NO ONE…thought to offer a response mechanism…something that would prompt the attendees to communicate with the vendor. Sure, they gave out many items as gifts with their name on it, but nothing to prompt anyone to do business with them.
Also, there were 22 local restaurants, which created 3 or 4 various dishes. There were lines for the food, but guess what? The attendees got their food and moved on. Why didn’t these restaurants offer a coupon, for let’s say 20% off your dinner when you come in? They didn’t have anything to give out to generate a customer. Sad!
But let me tell you about a million dollar idea I gave one of the exhibitors. His company does pest control. Two years ago, I was having a problem with birds nipping away at the caulking around my skylights, and I put an item called a Bird Repellent Spider on the roof near the skylight. In fact, I put 4 by my skylights. This exhibitor had one of these on the exhibiting table and when I mentioned to him that I also had Spiders on my roof, he was happy to hear that someone had installed the them. He asked me what pest control company installed them. I told him none. I googled bird repellants, found and bought 4 of them, and hired someone to install them on my roof.
When I asked him how many homes his company had installed these units on, he said “None.” He mentioned how difficult it was to convince a homeowner how important it was to install these spiders. To make a long story short, his company had no way of convincing a home owner about why they needed these Spiders and how they would benefit by installing them.
Here’s what I said to him. Research the damage birds do to a home, or building, and the health ramifications that would result when someone catches a disease that many birds ccarry, then present it to the homeowner as a health and safety issue. He and the others at the table loved the idea.
I then told them to research articles or studies that were done where birds have done serious damage to light posts along the road, light posts in Marinas, or any kind of poles. They can create a new market to sell to by extolling the reasoning that the Spiders installed atop the light posts will stop birds from destroying the metal, and over the long run save the township, or marina, money.
This product, the Bird Spider, can be used in many other areas as a deterrent, so I told them to think of other areas to create a new market.
I asked them what this idea meant in money to them, and they said over a million dollars and that is why I titled this article “A Million Dollar Idea.”
Let me know your thoughts on this or any input you might have.