Anyone looking for great business ideas needs to study the life of Henry Ford, the founder of the Ford Motor Corporation.
If you don’t know who this person is, Henry Ford was the inventor of the Model T. It is the world’s first large-scale automobile. This man literally invented the assembly line which is used in industries all over the world today. The invention of the assembly line was important because it enabled Ford to increase production and build more cars than ever before.
But what I want to focus on in this post was another business that involved very few people. This talented businessman took wood scraps that had escaped the production of his Model T and converted them into charcoal briquettes (used) in cooking and heating systems).
This “side venture” became so profitable that he built a separate charcoal plant and founded the Ford Charcoal Company, later renamed Kings Ford.
There are obvious products or waste produced by many businesses. To give an example, there is saw dust which is produced by saw mills. It can be used for many profitable purposes. For example, it can produce particle board and even fireplace logs.
It is said that every art of creation has a by-product which means that whatever business you are doing or want to do makes sure to create a “waste” which is in fact a by-product that you Can turn into big profits.
Some of the great business start-up ideas in my book include making huge profits from by-products and they don’t have to be your own. I hope this will make you think in the right direction.
But let me tell you another true story about a company in Kenya that created this trash from which it benefited greatly.
Everyone knows about the newspapers of the Nation. The company publishes the most circulating daily newspaper in the region. A few years ago, he had a serious problem. The price of oil was as high as ever, and the cost of distributing their newspapers was rising alarmingly. The waste generated by them was extra space in the heavy pickup vans that were left when the newspapers were loaded to deliver them to different cities and places. It was even more “lost” when Van returned to effectively empty the newspapers. What a waste.
And so they devised a way to turn “waste” or by-products into huge sums of money. He launched a courier service to deliver letters and packages across the country. He called the company Nation Couriers. Immediately they have a huge advantage because there is a supply of daily newspapers and they usually have a very strict schedule of supply because daily newspapers are useless products that need to be delivered on time. Today’s newspaper cannot be sold tomorrow. It has to be sold today and mostly early in the day. And so the Nation courier can promise its customers that the next morning the package will reach its destination without any package.
Overnight, this new courier service is made up of a “waste product” that has made huge profits for Nation Media Group and made its newspaper delivery more efficient.
Take a closer look around you.
What is being wasted?
Can you turn it into a profit?