My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Byproduct businesses offer hidden value
Evidence
Ford's charcoal business from manufacturing waste, fashion brands' sample disposal problem creating 260 Sample Sale opportunity, unused Airbnb nights enabling host exchange networks.
Implication
Look for waste streams, excess inventory, or underutilized assets in existing industries. Often these 'problems' represent business opportunities for intermediaries.
Counter Belief
Byproduct opportunities are usually low-margin and depend on main business continuing. Market size may be limited by underlying industry constraints.
Example Application
Research industries you understand and identify what they throw away or can't efficiently monetize. Position yourself as solution for their waste stream or excess capacity.