Tagged: entrepreneurship

Making a business out of restraining people’s wants

WP_20150208_004 1

A couple of weeks ago, I had a good long chat with a friend who used to be a housemate and who is now engaged in his own business. I was encouraged by his stories of challenge and keeping the faith, as well as his interest in exploring technology to serve real needs, particularly around mobile apps, website development to support local services, and similar opportunities.

I hope this article from Fast Company would inspire him to continue looking for good ideas and have the resolve to turn them to reality. Here’s to you!

People need help saving themselves from themselves, and that presents a business opportunity. What if payroll companies offered “contingent paychecks,” dispersing your earnings only if you met the conditions you’d specified (e.g., taking four hours of Spanish lessons or watching Schindler’s List)? Or imagine that someone set up a national Opt Out of Fat registry, and if you signed up, restaurants would deny your requests for nachos and grocery stores would refuse to scan your Oreos. Might people pay for that?

We admit these ideas are a bit far-fetched and perhaps likely to end in bloodshed. But Milkman has offered more practical suggestions, such as cleverly bundling wants and shoulds. For instance, exercising is a should, so what if your gym offered to receive your magazine subscriptions? That way, to read the new Vanity Fair (a want), you’d have to drop by the gym. Or what if Blockbuster offered you a free tub of popcorn (a want) for every documentary (a should) that you rented?

It’s a compelling idea: Might the future of business lie in encouraging shoulds rather than indulging wants? Could corporations help us bring out our better selves? We hope so. But let’s face it — our wants are powerful and stubborn. Cheetos will not go quietly into the night.