Observing for Business Ideas: Expanding Your Entrepreneurial Vision

Continuous observation of consumer-supplier dynamics leads to idea generation for business items, as seen in real-life examples.

### How to Generate Startup Ideas by Observing Daily Life
* 👀 Continuous observation in daily life is crucial for coming up with **startup ideas**.
* 📚 To expand the scope of observation, it's essential to gain various experiences through activities like **joining clubs, traveling, and participating in communities**.
* 💡 "Most entrepreneurs and prospective entrepreneurs think there must be a **special way to select an item**. It's not like that. It's just about **observing continuously in all situations I've experienced**."
* 🧠 Observing should be done in a way that continuously **confirms the perspectives of consumers, suppliers, and users**.
* 🛒 "All structures in capitalist societies exist with **consumers and suppliers**."
* 🚀 "When an idea comes to mind, you think, '**Oh, I can make money like this**'."

Today, we will now talk about what kind of item to start a business with in earnest. In today's Chang Lee content, I will not directly decide on the item itself. So, what is most difficult for you at first? You may not know how to think about this item, how to find it, and what you are thinking about. You may think, I want to start a business, and have various things written in your entrepreneurship notes. From time to time, you may think that what you have written could be seen as a great idea by general entrepreneurs or prospective entrepreneurs. However, in reality, I am not someone with such great ideas. So, how does someone like Jaden continue to find and write down entrepreneurship items, and how do they realize them?

How should we set our mindset and how should we move in order to come up with ideas like this? I would like to talk about how to generate ideas like this. The most important thing in this process is observation. Observation, if I may call it that. The life experiences and work experiences that you, the PDs, have, the situations that only you have experienced at your age... Your daily lives are probably different from mine, so you should think that you can come up with things that I cannot think of. You need to observe in all situations around you. But then, it could mean that what you can experience is quite limited. Patterns in life and work are mostly predetermined. So, how can we expand this? In order to broaden the scope of observation, an expansion of experience is necessary. In addition to the processes of work that you have and the processes of daily life...

To be able to have additional experiences or expand one's perspective, one must put oneself in situations where they can encounter and observe this much through the expansion of experiences. So, in order to be placed in such circumstances, what are the things that can be expanded through such experiences? It could be joining a club, traveling, participating in a community, dating, and adults often say that it's good to have many experiences when young. But why do they talk about the importance of experiences? To broaden one's perspective, if you only move within the predetermined boundaries you have, the expansion of your perspective is somewhat limited. So, the range of what you can think is limited. For example, if you are a high school student, what are the patterns of high school students? Going to school, studying, then going to academies to study. Expanding the perspective through experiences.

Even if you try a little differently from going to academies, you usually give a lot of experience to young friends. So, I taught cello, violin, and even let them draw. This is how it goes. Teachers can only do so much to expand their horizons. Therefore, for high school students, the boundaries are quite limited, and the range of movement is limited, so it's not easy to do these activities. So, what about college students? College students are a bit freer. They leave their homes and come out into society. While studying, they also have meetings, travel, try part-time jobs, and have various experiences to expand their horizons. In this process, college students, just like high school students, I see them as having limited boundaries. It's not that there is nothing to observe. Even if you are a high school student or a college student, you have your own experiences.

You need to continue observing within the boundaries. Observing should be done in a way that continuously confirms the perspectives of consumers, suppliers, and users. What this means is that nowadays, students don't clean, they have tried things like waxing the floor. They haven't waxed the floor, pushed, swept, wiped, and waxed. They haven't done things like that. Oh, I mean they just haven't waxed the floor. Oh, okay, okay. I'm from a generation similar to yours. Anyway, we used to do that kind of cleaning, but nowadays, my friends don't clean. So, who will do the cleaning then? They say it's done by outsourcing companies. So, I discovered this phenomenon. Outsourcing companies are doing the cleaning. Therefore, high school students need to continue practicing this. When outsourcing companies clean, someone pays them, so they come to clean. So, this money is.

Who will pick up the trash? The school will, right? In our assumption, then the school will become the consumer, right? They receive the cleaning service, don't they? We pay and receive the service. We become the consumers. In that case, the outsourcing cleaning company will become the supplier. So, who benefits from these situations? Consumers. We just see them as consumers. Usually, consumers are also the demanders in many cases. Dividing between demanders and suppliers, they receive the environment and services. Students become the ones who receive these services. So, starting from how the school, as a consumer in this structure, chooses a supplier, it all begins. Because there was a need from the demander, the school, the supplier was matched. So, the demander decided on the amount to pay or expressed the desire to receive such services. But in what way did the cleaning company, as the supplier,...

We need a process to talk about what we are going to do and how much we will charge. Then, we need to observe how this process will work. When these two things match, one business model is validated. We need to understand the reasons why the school decided to outsource cleaning instead of doing it themselves. There must be various reasons for that, such as students' rights, encouraging students to study more, or maybe raising the fees students pay to allocate a portion to outsourcing. This way, as high school students, there is no lack of things to observe around us.

In phenomena or capitalist societies, all structures exist with consumers and suppliers. So, the process is to continuously monitor this. For example, a high school student is told to buy a wooden stick at school, so they go to the stationery store in front. But how did the stationery store know to stock up on those wooden sticks? There must be a reason for preparing the supplies at the right time. It could be through teachers providing the list of supplies in advance and restocking, or without it, they could plan ahead for a year's worth according to the curriculum. Therefore, by preparing, the alignment between consumers and suppliers is achieved. This also applies to school meals. How do catering companies provide meals to schools? If you think deeply, it's not simple. The catering company doesn't just provide meals.

Let's change and maintain most of it for a few years. Then, how should we go about getting that? Through a bidding process, right? Through bidding, the school looks for a company that can operate such cafeterias within a certain budget range. They announce things like budgets and such, and then these cafeteria companies say, We will provide such and such meals within this budget, through the bidding process. If we delve deeper, we can see that the cafeteria bids, contracts are made, and then how do they hire nutritionists and meal distributors? We continue to delve into how they hire these individuals. This is observation. So, how do these cafeteria companies actually make money? How do cleaning companies make money? Where does the milk we drink come from? We need to keep thinking about these things. From a university student's perspective, it's the same. The operation of university cafeterias.

They say that there is no such thing as a good university cafeteria. They usually say that the food at their own school cafeteria is the worst. It seems like the company that operates this cafeteria is quite dissatisfied. How is this selection made through bidding? How is the contract awarded? Rather than the system of this cafeteria, wouldn't it be more convenient if just one or two companies like a snack bar, a Korean restaurant, a Japanese restaurant, or a Western restaurant were simply allowed to enter? It's about observing and imagining continuously. Most entrepreneurs and prospective entrepreneurs think there must be a special way to select an item. It's not like that. It's just about observing continuously in all situations I've experienced. By observing continuously, hypotheses can be formed about what is possible. However, when I look at the situations where I shared ideas related to startup items for free, I see that many men are interested in dermatology.

I went during the day, and there were so many people at the dermatologist's office, but they were all very good-looking and young friends. So, men are really interested in skin costs. There wasn't a single woman. But looking at this, I thought, Oh, then instead of Gangnam unnie, it would be nice to have an application for skin care and plastic surgery information for men. And also, my socks, there's always a hole in my socks. This was the case when I was in my 20s, so it's really annoying. These socks are like accessories, I have to keep changing and buying new ones. But it's so annoying, so I have to touch them to know which ones to buy. So, I always have dozens of Uniqlo or similar brand socks. So, when they get holes, I just throw them away. But it's too much trouble to go buy them, so every day I have socks with holes. Looking at my pattern, I should give socks regularly.

I wished there was a service that sends them, so I made sock subscription. I kept losing socks, which was quite annoying, so I realized the inconvenience and started observing myself and forming hypotheses. Oh, there's another thing. I went to the U.S. ten years ago, and I had so many coins left. But when I looked closely, there were Vietnamese coins and Japanese coins, so it turned out that the change from my past travels had all accumulated like this. However, it's confusing whether these are U.S. coins or Japanese coins. In the end, I have to go to the bank. When I asked people who had been to the U.S. with me, they all said that they had too much loose change at home. But they left it for later in case they go back someday. They said it's too much trouble to exchange it. So...

Instead of just playing around with this, wouldn't it be fun if we could exchange these for money or points? So, I realized that at the airport and came to the company and immediately made a vending machine. When you put coins into our vending machine, it recognizes which country's coin it is and accumulates virtual points that we created. It's to allow purchasing something with virtual points. Then, if there is one at the airport, you can enter your ID, phone number, insert coins, and if you have points, you can use them through a mobile application. This is how we develop ideas, right? Is it okay? Yeah, at first, when I thought of this, I thought, Wow, am I a genius? But I haven't been doing it for a long time now. To install this at the airport, starting from the airport's approval, the installation costs are all borne by the company that does it, so I decided to choose one bank.

I should have joined or continued to do it consistently. I like it when results come out quickly, but I thought it was a bit difficult, so I quit. Anyway, can you see the process of observing like this now? In all situations around me, things just go on like this in daily life. For example, there is an ashtray for smokers in front of our company now. But it's really hard to empty that ashtray. The lady who cleans it also finds it a bit difficult to clear it. But what if in every building, if there are these ashtrays in various places, and if they need to be emptied every day, what if it becomes a regular task? Then, will the buildings charge for it? How much will it cost to use the service? I keep thinking about it this way. So, in my daily life, I observe things like this. There are many companies that are already making good money. For example, the two people after me.

The bicycles that are standing there have been tuned a lot. Why do people change those bicycles when riding them? Is it just because their bottoms hurt and they change them? Or is it to look cool? It seems like they are imported, like a distributor overseas. I should continue to be curious about how this is structured. I need to keep observing. That way, I can find out how they make money. How do bicycle companies make money? Chinese manufacturers, how do they bring this license and distribute it domestically? Is this a monopoly, or can I also go and sell it now? If so, there are places selling these bicycles in Seoul but none in Busan. Then, what if I try to get the authority to sell them in Busan? Or since these bicycles are a bit expensive, maybe changing the saddle or.

What about the market that rents handles like this? Continuously contemplating this is not about being correct, but as you continue to do this, you start to develop an eye for it. At first, it doesn't work well, observing the situation around you, and the perception of how business owners are making money through what structure is not well understood. However, after delving into how business owners are making money a couple of times, you start to see, Ah, they are making money this way. Oh, this bicycle company is making money like this. If the structure is somewhat depicted, then in the next observation that occurs, you think, I can make money like this. When an idea comes to mind, you think, Oh, I can make money like this. [MUSIC]

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Generating Business Ideas: The Power of Observation and Experience

Observation is crucial for generating business ideas, as it allows for the identification of unique opportunities based on personal experiences and perspectives.

Expanding one's range of experiences, such as through travel, joining clubs, or trying new activities, is essential for broadening one's mindset and generating innovative business ideas.

Both high school and college students have limited boundaries, but the freedom and variety of experiences available to college students can offer a broader range of observations for potential business ideas.

The Impact of Outsourcing Cleaning Services on High School Students

High school students nowadays rely on outsourcing companies for cleaning instead of doing it themselves, leading to a shift in the cleaning practices.

The school becomes the consumer, outsourcing the cleaning services, while the outsourcing company becomes the supplier.

This arrangement benefits the consumers, as students receive the cleaning services without having to do it themselves.

The Continuous Observation of Consumer-Supplier Relationships

In a capitalist society, the alignment between consumers and suppliers is achieved through continuous observation and planning, such as teachers providing supply lists to stores in advance or catering companies winning contracts through a bidding process.

University cafeterias also operate through a similar bidding process for meal providers, and continuous observation is emphasized for entrepreneurs to form hypotheses and ideas.

A man noticed the high number of people at a dermatologist's office who were all good-looking and young, sparking the idea for a skincare and plastic surgery app for men.

He also realized the inconvenience of constantly buying socks with holes and decided to start a sock subscription service.

Additionally, he observed that many people, including himself, had accumulated foreign coins from past travels, leading to the idea of a vending machine that could exchange foreign coins for virtual points.

The Power of Consistent Observation in Understanding Business

Consistent observation in daily life can lead to understanding how businesses make money and identifying potential opportunities.

By observing common tasks or services, such as emptying ashtrays, one can consider the potential for charging for these services and the associated costs.

Continuous observation also allows for the exploration of how bicycle companies make money, including the possibility of entering the market in different locations or offering unique rental services.

Through ongoing observation, a deeper understanding of business structures and money-making opportunities can be developed.