Spotting a Unique Niche
In the 1970s, Rick Washburn wanted to be an actor and landed minor roles as a hitman and an FBI agent in several movies, according to business editor Paul Barrett. But Wasburn discovered that he could make a lot more money in Hollywood by using specialized knowledge from his childhood.
While growing up in Arkansas, he’d learned a lot about guns and Washburn noticed that many people on movie sets were ignorant about handling the weapons featured in movie scripts. He eventually began a service to advise directors about the proper use of firearms in films and television shows.
Lesson: Even in highly competitive industries like Hollywood, there are numerous problems waiting to be solved through the introduction of a new service or product.