FINDING OPPORTUN ITIES IN THE MARKETPLACE: SOLVE THE PROBLEM

1. FINDING OPPORTUN ITIES IN THE MARKETPLACE: SOLVE THE PROBLEM M. W. PICZAK SEPTEMBER 2004

2. BASIC PREMISE • EVERY INDUSTRY HAS PROBLEMS • EVERY COMPANY HAS PROBLEMS • EVERY PRODUCT HAS PROBLEMS • EVERY SERVICE HAS PROBLEMS

3. HOW TO NOTICE A PROBLEM • LISTEN TO PEOPLE • READ THE NEWSPAPER • WATCH TV • TRY PRODUCTS AND SERVICES YOURSELVES • NOTICE AS YOU GO CRUISE THROUGH THIS WORLD

4. “Geez…that’s a real problem…” • SO WHAT DO PEOPLE COMPLAIN ABOUT OR ARE FRUSTRATED WITH?

5. PROBLEMS I • GRAFITTI IN PUBLIC PLACES • TRAFFIC CONGESTION • GOLF BALLS THAT GET LOST • SPAM • POOR SERVICE GENERALLY • OXYMORONIC JEWEL CASES • COMPUTER OPERATING SYSTEMS THAT TELL YOU HAVE “PERFORMED AN ILLEGAL OPERATION” • CD’s THAT SKIP • DVD’s THAT FREEZE MOMENTARILY • HOLLYWOOD MOVIES THAT AVERAGE ONE CONTINUITY ERROR PER RUNNING MINUTE • HYDRO THAT COSTS TOO MUCH • GRASS SNIPPERS THAT DEPOSIT ALL THAT PLASTIC LINE IN YOUR LAWN • REPAIR PEOPLE THAT ARE NOT ON TIME

6. PROBLEMS II • THINGS THAT COST TOO MUCH (LIQUOR, BEER, INK CARTRIDGES, SCHOOLING, TEXTBOOKS) • GOVERNMENT SERVICES THAT COST TOO MUCH • HYDRO THAT COSTS TOO MUCH • WHISTLES THAT DON’T WHISTLE • GARBAGE THAT IS ALL TOO PLENTIFUL • AIRPORT SECURITY • ANALOG CLOCKS ON STOVES • TOO MANY COMPUTER CABLES • LONG LINE UPS AT THEME PARKS, DOCTORS’ OFFICES, BANKS, TOLL BOOTHS/CUSTOMS • OBESITY WITHIN OUR POPULATION • INCONSISTENT CLOTHES AND SHOES SIZING • TELEPHONE BOOK FONTS AT 6 POINT • WOMEN’S NYLONS

7. GETTING SELFISH OR OPPORTUNISTIC • NOW, CAN YOU THINK OF ANY THAT COULD/SHOULD BE ADDED TO THE LIST FOR YOUR PARTICULAR INDUSTRY?

8. PRODUCT/SERVICE SOLUTIONS:BANKS AS AN ILLUSTRATION • IN THE OLD DAYS, BANK HOURS WERE 10-3 • BANKS WERE OPEN MONDAY THROUGH FRIDAY • IN PERSON BANKING ONLY • BY HAND (SLIP, BANK BOOK UPDATE AND RECORD UPDATE) AND WERE HANDLED BY THE “TELLER” ONLY • NUMBER OF BRANCHES MINIMAL • PARKING AT BRANCHES MINIMAL • LARGELY HAD TO DO YOUR BANKING AT YOUR BRANCH ONLY • NSF CHARGES HEFTY • CUMBERSOME LOAN APPROVAL PROCESSES • JOCKEYING IN LINE UPS

9. BANKING TODAY: STREAMLINED ALONG MANY DIMENSIONS… • ATMs • GENERIC ATMs • TELE BANKING • E BANKING (4 ¢vs. $2 FOR A TELLER PER TRANSACTION) • PAPERLESS BANKING • COMPUTERS • MULTI BRANCH BANKING • YOU FILL OUT A FORM • NSF PROTECTION/INSURANCE • PRE-APPROVED LOANS • CUSTOMER FRIENDLY HOURS (8-6 + SATURDAYS) • MALL LOCATIONS • SERPENTINE LINES

10. HOW YOU WILL BE DIFFERENT AND BETTER…THINK • THINK OF THE INDUSTRY YOU WANT TO JOIN • THINK THROUGH WHAT PEOPLE COMPLAIN ABOUT…WHAT YOU HAVE COMPLAINED ABOUT • THINK ABOUT SOLUTIONS TO THESE PROBLEMS AS YOU CONSIDER YOUR BUSINESS CONCEPT • ENSURE THAT THESE SOLUTIONS BECOME YOUR COMPETITIVE ADVANTAGE OR DISTINCTIVE COMPETENCE

11. SOLUTIONS IN THE MARKETPLACE • PEALESS WHISTLE • HEALTHY FOODS • ORGANIC FOODS • SLOW FOOD RESTAURANTS • RETURN OF THE FORMAL DINING RESTAURANT • CUSTOM COURSE WARE • SUN GLASSES FOR FINDING GOLF BALLS • PAINT THAT GOES FROM PINK TO WHITE AS IT DRIES • SPAM BLOCKERS • LINUX OPERATING SYSTEM • DISNEY’S QUICK PASS SYSTEM

12. SOLVE THE PROBLEM • NOW, GO BACK AND THINK OUTSIDE THE BOX WHEN IT COMES TO YOUR INDUSTRY, PRODUCT OR SERVICE… • SOLVE THE PROBLEM

13. FINDING OPPORTUN ITIES IN THE MARKETPLACE: SOLVE THE PROBLEM M. W. PICZAK SEPTEMBER 2004 THE END