Looking for a good small business idea that could turn into a big business idea?
If you are, I think we’re living in extremely exciting times, and I say this because it’s clear to me that businesses we used to think were established and virtually untouchable are now vulnerable to startup competition.
Some of these are obvious, and the popular press runs stories about them every day. I’m thinking about enterprises like Uber, Airbnb and other peer-to-peer or sharing business models that are using the advantages of today’s technology to launch an assault on an established business sector.
But some startups are getting traction even without leveraging the bleeding edge of technology. (Maybe I shouldn’t have used the word “bleeding” here, because I want to talk about what’s going on in the razor-shaving industry.)
Let me set the stage with a very brief history lesson. Gillette and the company’s competitors sold reusable razors with the intent to make most of their profits from selling the blades used to fill the razors. It was a fairly advanced way of thinking at the time.
This business model chugged along merrily for generations. It’s so simple that it seemed almost unassailable. How could anyone make inroads against the likes of Gillette and Schick?