Students ask in class, “Stat, do you think there is room for new ideas and products?”
Have you ever wondered if there’s anything truly new left to invent? In my Business Ownership class, one of the most common questions is, “Stat, do you think all the good ideas have already been taken?” My answer is always a resounding no. Innovation is everywhere—sometimes, it’s just about looking at an old idea with fresh eyes. Take a look at Apple’s AirTag. When it first hit the scene, it was a game-changer for people trying to keep track of their stuff. But let’s be honest—have you ever tried cramming that thing into your wallet? Spoiler alert: it doesn’t fit; if it does, it’s not exactly sleek. Enter SmartCard—the wallet tracker we didn’t know we needed. It’s thin, fits perfectly, and can even be recharged wirelessly. Old idea, new twist, better product.
And it doesn’t stop there. How about razors? You might think there’s no improving something as simple as a blade, but then came the Supply SE Razor. It revamped the Single Edge Razor design into something more modern and efficient. Or what about dog owners who live in high-rise apartments? Tired of waiting for the elevator to walk his dog, one inventor came up with the Weasy Potty, a convenient indoor option. Simple but brilliant, right?
Even sports are getting a splash of innovation. Golf has been around for over a century, yet a golfer in England just thought, “Why don’t we have a tool to automatically clean golf clubs after every shot?” Hence, the Groovee was born—a water scrubber that cares for the mess so you can focus on your game. Again, the idea isn’t new, but the execution? That’s where the magic happens.
Hundreds of thousands of ideas are floating around, waiting for someone to give them a makeover or solve a problem no one has thought to fix. So, when students tell me they can’t think of anything new, I tell them to stop thinking “new” and start thinking “improved.” The next breakthrough might be a smarter version of something we already use…………
Rising Dough
How do small improvements on everyday products help companies create new demand, and what role do consumer expectations play in driving these innovations?
*Join the conversation by telling us your thoughts.
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