Hello greetings to one and all. This is Jack Lookman welcoming you to our series
Jack's Curated Business Ideas.
I hope that you've been getting value from the previous episodes. Today's topic is about
The Domestic Remote Controlled Light Switch.
What's the problem?
Have you come back home after a long day and decided to relax on the sofa?
In the process of relaxing you become tired and you wish to put off the light but you are weak and tired and you don't have a bed lamp.
As a result the light is on all night long until you wake up to put it off.
What's the idea?
You probably have gadgets, television, music box, car, fans, air conditioning, etc. They probably all have remote controls. Why can't we have remote.controls for our light switches?
This could be ready installed in new buildings or adaptations made to the lighting devices in older buildings.
Here's a summary of the process to be followed. You can modify it as necessary.
- You could achieve your aim by getting an engineer to design the remote control.
- The engineer could be sourced locally or from a freelance platform.
- Production could follow, after relevant tests.
- You could leverage the internet accordingly.
- You can could carry out processes locally tests and ensure regulations are met.
- The product is brought to the marketplace and then monetized.
Let's talk about marketing
Before commencing the project you need to do research accordingly:
- Market research
- Product research
- Competitor research
- These shall be foundational structures for the project or for the business.
- If the project is viable you could proceed with implementation in order to Market.
- You could leverage different marketing options such as:
- Social Media Marketing
- Influencer marketing
- Digital marketing
- Affiliate marketing
- Content marketing
- Email marketing
- Search engine optimization
- Online stores
- Blogs
- Podcasts
- Search engine optimisation
- Sales funnels
- Etc.
What are the benefits that may be derived from the product?
- It provides convenience. You could put the light on or off by depressing the remote control.
- It could help save electricity and money.
- It could elongate the lifespan of light bulbs.
- It could create jobs and wealth.
- It could be compatible with different electrical devices.
- It could be designed for multiple uses.
- It could could make the world greener with lesser emissions
What are the threats?
- It could promote laziness.
- The device could get lost or misplaced.
- It could be a fire hazard, if imperfectly designed produced and installed.
- There could be fake versions of your product.
- It could be an additional device or gadget in the house.
- It could be a hazard to young children
- If mishandled it could become unusable.
Let's talk about monetization.
A sales funnel could be created. This product could be part of the sales funnel. You could monetize the product, as well as sell or market other related products and services. For example there may be complimentary products and services to the gadget. You may sell batteries, related fittings, you may go into partnership with those who sell electronic or electrical devices. You could Market it as a gift item. The products may be sold individually or as a bundle.
The value chain
These shall include the undermentioned
- market research
- project management
- funding
- design
- production
- installation
- maybe maintenance
- Marketing and sales
- After sales service
- Legalities
- Logistics
- Etc
Disclaimer
Let me include a small disclaimer. This is just an idea. So nothing is guaranteed. What is expected is that you do your due diligence to make sure that you cross all the t’s and dot all the i’s.
Conclusion
In conclusion, just like most of our the content, this is another Curated Business Idea. It's what is called a ‘blue ocean’ in marketing terminology.
If you successfully execute it, you could enjoy monopoly. The products could be sold globally and you could monetize via any part of the value chain.
Just like everything else, it has its challenges. The important thing is to overcome such, and make the best of the idea.
That's more or less the end of the presentation.
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This is Olayinka Carew aka Jack Lookman signing of.
Ire o (I wish you blessings)
Ire kabiti (I wish you loads of blessings)
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