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CHAPTER 3 THE MILLION-DOLLAR BUSINESS IDEA

glasses fitted within their lunchtime! Within 5 years, they sold
their entire business for $394 million.

Developing Your Business’s Competitive
Advantage

So, now it is your turn. Think of the business you are in or the
business you intend to go into. What are the key frustrations
of customers in your line? To get even more ideas, you may
want to conduct a survey of people in that market segment
and ask them what frustrates them and what their unmet needs
are. Here are examples of some businesses and the common
frustrations of their customers.

Business Type Frustrations
Tuition centre
Medical clinic Unqualified teachers, no improvement
Optician
Waiting time
Airline
Adult education Having to wait few days
Bank for specs

Lousy food, no legroom

No time to attend evening classes

Getting to & Queuing up for
banking services. Irritating
answering machines. Customer
service officers that cannot help
because of in-house policies

90 SECRETS OF BUILDING MULTI-MILLION DOLLAR BUSINESSES