Thursday, December 3, 2009

Importance of a Unique Product or Service

Today I’d like to explore a factor that is very important when evaluating a business opportunity. Is the product the company is offering truly unique?

How can you evaluate this? First of all, and especially if it is a nutritional product or other physical product, you can check to see if it has a patent. If it does, or even if it has a patent pending, it is less likely that there will be a multitude of copycat products flooding the market. Just as an example, when acai first hit the US market, it represented a good opportunity. However, because it was a product based on a fruit and it couldn’t be patented, after a short time many, many products came unto the market claiming to be the best acai. As a result, a company based on the uniqueness of acai is no longer a very good option. It is no longer truly unique.

If a product has a patent, you can be assured that it has been proven to be unique and it will probably represent a long lasting opportunity. There are also services that can be unique. Whenever there is a problem that needs to be solved and someone comes up with a solution that is better than previous solutions an opportunity is created. Getting into a market when that solution is new and before copycats have glutted the market can be a very good opportunity.

Occasionally something comes along that is so unique and so important that it presents an extraordinary opportunity. Most of us hope that we will be in the right place and the right time when that opportunity comes along.

You can find out about just such an opportunity by clicking on unique product.
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