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Filling the void

New businesses and new products come up to fill some void on the supply side. There could be a need on the demand side that is not yet satisfied by the existing supply of products and services, and the one who identifies this has the opportunity to fill that void by creating his own solution for the problem. 

The void could be anything. It could be a new price point for an existing product, it could be a localized variant of an existing product, it could be an altogether new product in a new category. It could be anything. All that matters is the opportunity that arises out of identifying it.Of course, identifying the opportunity is only half the story as the one who identifies it has to have the ability to go ahead and do something about it. 

A lot of big brands dedicate time and resources to analyzing the existing scenarios and identifying these voids. And if none are identified, there is little opportunity for growth of the brand.

At a personal level, we all go about our routines with certain broad end goals in mind like wanting to improve the standard of life or social stature or bank balance. This is like a company saying its broad goals are to increase profits and increase market share and increase customer satisfaction levels. With just these broad goals, there is no drive to do anything specific. You start thinking 'if this cannot be done, there shall be another way of getting there.' 

If you start identifying specific voids in your life that you want to fill, and start building the capability needed to fill that void (if you have to), your ambition levels and your commitment levels start going up.

Just like every brand comes out with either a new product or a new version of the existing product every few months, you have to reassess what voids your current activities are trying to fill and modify them accordingly. 

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