Where is the ‘hidden market’ for what you sell?
One of the big opportunities for many businesses is the huge ‘hidden market’ for what they offer.
Here’s a good example to get you thinking:
A lady called Cindy Cashman saw an interesting idea a few years ago that took her fancy. The idea was for a book with the title "Everything men know about women."
The book was over 100 pages long and inside there was nothing but blank pages. Cindy liked the fun nature of the book but she didn't like the idea of having to work really hard to try and make a few sales.
So she began looking for hidden markets that would allow her to sell huge amounts of her book with very little effort.
The outcome was interesting.
Cindy ignored completely traditional book shops as she realised her book would be competing with tens of thousands of other books for sale.
Instead Cindy approached businesses like women's clothing shops and got them to display her book next to the cash register.
Women shopping at these stores would pick up the book because of the catchy title, laugh when they saw it was totally blank inside and would then buy a whole bunch to give as gifts to people they knew.
Cindy kept the price very affordable and sold over a million copies of her book over the next few years.
Cindy had discovered a ‘hidden market’ for her book and it made her a lot of money.
As well as looking at the hidden market for some of your services you might like to look at the hidden cash flow opportunities in your business as well.
Here at smartAR we specialise in helping our professional services clients to quickly improve their cash flow.