OP: "Fix something that’s broken. In business, it seems to me that the traditional banking business models are broken or at least no longer fit the purpose. On the other end of the spectrum, Internet dating sites don’t seem to work. They have millions of users, so they must be promising something people want. And yet they work horribly. Just ask anyone who uses them."
to pg: "One way to make something people want is to look at stuff people use now that's broken. Dating sites are a prime example. They have millions of users, so they must be promising something people want. And yet they work horribly. Just ask anyone who uses them. "
Or "Take a luxury and make it a commodity. People must want something if they pay a lot for it. It is a very rare product that can't be made dramatically cheaper if you try. When you make something dramatically cheaper, you sell more, and people start to use it in different ways. For example, once cell phones were so cheap that most people had one, people started using them as cameras and Internet devices."
to pg's : "Another classic way to make something people want is to take a luxury and make it into a commmodity. People must want something if they pay a lot for it. And it is a very rare product that can't be made dramatically cheaper if you try.
This was Henry Ford's plan. He made cars, which had been a luxury item, into a commodity. But the idea is much older than Henry Ford."