Overlooked Geographic Opportunities

Shaan Puri and Sam Parr discuss how some of the most successful businesses come from observing everyday things that people take for granted, then questioning how they work and finding opportunities in the process.

Key Points:

• Business Opportunity Recognition:

  • Look at everyday objects/situations and ask "How did this get here?"
  • Question who wanted it there and what the economics are behind it
  • Many successful businesses come from noticing what others overlook

• Example: Unclaimed Baggage Business

  • 0.3% of all luggage remains unclaimed at airports
  • Company partnered exclusively with airlines to take unclaimed bags
  • Located in Scottsboro, Alabama
  • Business model includes:
    • Selling valuable items
    • Donating items to charity
    • Recycling orphaned bags

• Value of Simple Solutions:

  • Don't need to overcomplicate business ideas
  • Focus on solving real problems
  • Can turn "waste into gold"
  • Can create significant value while reducing waste

• Geographic Insights:

  • Successful businesses don't need to be in traditional tech hubs
  • Simple ideas from "normal" people can create significant impact
  • Location (like being based in Alabama) shouldn't be seen as a disadvantage

• Impact Beyond Profit:

  • Created thousands of jobs for low-income people
  • Significantly reduced waste
  • Combined profitable business with positive social impact
  • Shows you can "do good while doing well"

• Key Success Factors:

  • Securing exclusive partnerships
  • Finding value in what others consider waste
  • Simple, straightforward business model
  • Solving a real problem for multiple stakeholders