Products and Services People Need (And Not Just Want)
An attractive business opportunity is one that offers products and services based on human needs and not merely wants.
Why? It's because meeting our human needs is a long term pursuit. A business that meets people's needs is more likely to be trending business, rather than just a fad.
The following business ideas are inspired by Abraham Maslow's hierarchy of needs, a motivational theory (1).
Products and Services People Need
1 Physiological
Value-added food processing
Farming (traditional, aquaponics, hydroponics)
Restaurant or any other food business
Healthy powdered dehydrated food (e.g. kale, barley, moringa, etc.) and other nutritional supplements retailing
Hypnosis for restful sleep, stress-relief, or relaxation
Physical fitness training services
Meal planning services
Weight management coaching
Virtual yoga classes
Retail and/ or manufacturing of air purifiers
Fitness/ boxing gym
Healthy edible oil manufacturing
Open your own department store
Clothing store
Our body's physiological needs could be anything related to food, sex, comfort, rest, physical activity, and other physical health-related products and services. Go ahead, and do some brainstorming with your friends or team.
2 Safety/ security
Fabricated homes manufacturing/ installation
Security camera business
Adult daycare business
Children's daycare center
Martial arts school
Sell health and/or life insurance
Employment agency
Security guard agency (can be very profitable; my parents own one in the Philippines)
Bookkeeping services
House cleaning services
Tax return preparing services
Be a lawyer and start your own law firm
Children's car seat manufacturing/ retailing
Security software development
Safety and security needs refer to both physiological and psychological safety. Think of a business concept that would satisfy people's need for freedom from any kind of harm or threat.
Related Post: How To Know What Products and Services People Want
3 Social
Counseling (children, marriage, trauma, etc.) business
Coaching business (personal relationship, business)
Online dating site business (you can profit from membership fees; but please keep your site wholesome)
Start your own social media site/ channel (and monetize it)
Develop your own virtual summer camps
Sports and/or other hobby-related business (where people can gather around and socialize)
Support group services (e.g. for solo entrepreneurs, for people with introvert personality, for divorced/separated individuals, etc.)
Travel agency business
Arcade, museum, amusement park or other entertainment and recreation business
Related Post: Small Businesses (Ideas) That Require Special Knowledge and Skills
The key concepts behind our social needs include affection, intimacy, social support, meaningful relationship with others, acceptance by others, and protection from social isolation.
4 Self-esteem
Self-esteem coaching business
ESL tutorial services (learning the English language is a valuable skill and can enhance a person's self-esteem)
Beauty salon business
Fitness studio
Skin care services
Personal lifestyle consulting business
Self-esteem is your sense of worthiness, self-respect, and good body image. It is also related to the degree of respect you get from others.
5 Self-actualization
Technical skills training school
Music school
Leadership training school
Career/ life coaching services
Bookstore (have your own physical and virtual store)
Write, publish, and sell your own books
Spiritual counselling
Be a public speaking coach
School for the gifted children/ individuals
School for the handicapped children and/or adults
Self-actualization is related to recognition of one's potential, autonomy, power, knowledge and skills acquisition, coping skills, self-fulfillment, spiritual well-being
Final Words:
As you look for business ideas that people need (and not merely want), you might also have to conduct further research regarding your state or country's specific requirements prior launching your business and make sure to comply with it. This is to avoid any troublesome legal interference during your operation.
Businesses management absolutely requires specialized knowledge and skills. And this may also mean getting a professional license prior opening your chosen business. Moreover, getting a personal professional advice cannot be overemphasized.
Reference:
(1) Schermerhorn Jr., John; Bachrach, Daniel. (2018). Exploring Management. Sixth Edition. USA: John Wiley & Sons, Inc.
