Looking for a Business Idea? Start with What’s Missing

1mo Business Inspirational 0

Looking for a Business Idea? Start with What’s Missing

Have you ever felt a nagging sense that there’s something bigger you’re meant to be doing? You might have an idea swirling in your head—a solution to a problem you face every day—but you have no idea where to start, or if it’s even a “good” idea.

You’re not alone. But what if the secret to a billion-dollar business isn’t a stroke of genius, but a simple shift in perspective?

Emma Grede, co-founder of the $4 billion brand SKIMS, shared the foundational principle behind all her successful ventures. It’s a principle that turns passion into profit and frustration into foundation. It’s deceptively simple:

Start with what’s missing.

The best business ideas aren’t invented; they’re discovered in the gaps of your own life. Here’s how to apply this billion-dollar framework.

Solve Your Own Problem.

The most powerful starting point is your own experience. If you encounter a problem, it’s almost certain that others like you are facing it too.

I think it would be very difficult for me… to do things that you can't relate to. I always start with the idea that if it's a problem for me, likelihood is it's a problem for other people like me. __Emma Grede

This isn’t just about finding a gap in the market; it’s about finding a gap you understand on a visceral level. Your personal connection becomes your competitive advantage. You have an innate understanding of the customer’s pain points, desires, and language that an outsider would need years to learn.

Your Move:

For one week, keep a “Problem Journal.” Jot down every minor frustration, every workaround you have to make, every time you think, “Why isn’t there a better way to do this?” Don’t judge the ideas yet. Just collect them.

Design for the Overlooked

Many businesses compete for the same customers. True innovation often lies in serving the people everyone else is ignoring.

Emma’s company, Good American, wasn’t born in a boardroom; it was born from a reaction to an industry-wide blind spot:

So many women—women of color, plus-size women—are just completely left out of the fashion conversation. And why is their dollar any less valuable than anybody else's?

This is inclusivity as a business superpower, not just a buzzword. When you acknowledge and serve an audience that has been consistently overlooked, you build unshakable loyalty from day one. They don’t just buy your product; they champion your mission.

Your Move:

Look at your Problem Journal. Which of these frustrations are experienced by a group that is currently underserved by existing solutions? This is your potential niche.

Build with Purpose, Not Just Profit

A idea born from a real problem has a purpose baked into its DNA. This purpose becomes the “red thread” that guides every decision, from product design to marketing.

For Emma, that thread is a commitment to genuine representation and serving the most people possible. It’s what separates a brand with a soul from a commodity.

The process actually starts with me thinking about, how can I best serve the most amount of people? And when there's an acknowledgement of someone who isn't usually acknowledged… they feel seen, they feel heard.

This purpose-driven approach is what transforms customers into a community. They stick with you because they believe in what you’re building, not just what you’re selling.