Profit From a Gap In The Market

Keeping your eyes and ears open to what is going on in the world around you is something that you need to be able to do if you are looking for a gap to fill in a market. Some people can spot gaps just like that and for others it takes a bit more work at being able to spot them. Sometimes these gaps can be really obvious and other times they may become apparent by chance. What matters more is what you decide to do once you have spotted that gap.

One example that comes to mind is of a person I know (lets call him Bruce) who like many other Kiwis decided to hop across the ditch to Australia in search of greener pastures. When he got there, things were going okay but not as good as he was expecting them to be. Bruce had a niece in university and through that connection he got to know a few international students. He soon discovered that a lot of them were looking for cheap cars for the semester or two they were there.

Cheap cars wasn’t something that they were able to come across easily so Bruce decided to take advantage of the gap. What made it even easier for him is that he is a mechanic by trade. What he went and did was get his hands on a couple of cheap wrecks which he brought back life in his spare time. Getting the cars of his hands  once they were in a good working condition was easy and he made a decent profit. Bruce decided to use the money to get more cars and carry on with the little venture. He soon reached a point where he couldn’t keep up with demand and quit his regular job to concentrate on the niche he had found. This has proven to be very profitable for him and to this day he does not spend any money on marketing with all of his business coming in via word of mouth.

That there was a quick run down of how things went for Bruce. It might look like it was nice and easy but he did have to do a bit of research to see whether or not it was feasible. Fortunately for him, it was and he has managed to grow it into a viable business. For all you know, there is a gap in your area of expertise that hasn’t made itself apparent yet. If or when you do see one you need to act on it quickly and take steps to fill the gap.

When I went home to Zimbabwe on holiday an idea dawned on me whilst having a conversation with an acquaintance. This is something I am working on at the moment and all going well I will be able to tell you all about in the near future. Good luck to you in finding and taking advantage of those gaps.

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