How Complaints Can Make You Rich

March 1, 2011 - Last Modified: March 11, 2011 by Fisayo Sanyaolu 1,564

As an entrepreneur, you might have found yourself in a situation where you hear people complain bitterly about products or services rendered to them to the extent that they give out suggestions on what they think the producer or supplier of that particular good or services should do to improve them.

Some entrepreneurs don’t realize or don’t feel it’s necessary to give a second thought on the issues being raised by those complaining, and thus, they miss the wonderful opportunity of creating a solution that would solve a serious problem that is causing sleepless nights to their customers.

Over the years, customer’s complaints, when seen as a source of business ideas, had been a great source of income to the entrepreneur that frequently scanned his/her environment to look for problems to solved.

For example, if you are a vigilant entrepreneur that creates web application solutions in your company and you visit a store to shop for some items and experinced a problem, would you be smart enough to draw the store’s manager attention to the issue? You should, because it would also reduce the waiting time you experience when you visit the shop.

There are other sources of good business ideas. To be successful in generating or finding one, an entrepreneur needs to keep his/her mind and eyes open and be alert to opportunities. It is also good to note that an idea, however good, is only a tool at the end of the day, since it still needs to be developed and transformed into a viable business opportunity.

Other sources of good business ideas include but are not limited to:

Hobbies and Interest
Personal skills and experience
Franchise
Mass media (newspapers, magazines, TV, internet etc)
Exhibitions
Surveys
Brainstorming
Creativity

I’ll like you all to share your views and also list how you generated your business ideas so we can all learn form it.

Thanks for reading!

{ 33 Responses }

Fisayo Sanyaolu says:

Nice post. Solving complaints by providing solutions is the best not the other way.
Kevin says:

The only thing is to make sure to take every complaint with a grain of salt. Look for trends where multiple people are suggesting the same or similar changes and focus on developments in that area. you have be discerning and separate valid concerns from nit picking from customers. Make sure to keep an open mind and you will be fine.
- Fisayo says:
  
  Thanks for the comment.
Chrissy says:

Complaints can make you rich in more ways than one haha, I started a complaints website just for fun and it has definitely been a great learning experience for me.
- Fisayo says:
  
  Thanks for the comment Chrissy.
Mark says:

Fisayo, Great article. It could just as easily been entitled: "How Feedback Can Make You Rich" Because, that is essentially what complaints are...simply unsolicited feedback, which is invaluable. A smart person or corporation, for that matter, always does well to listen to it and adapt accordingly. Thanks, Mark
- Fisayo says:
  
  Thanks Mark! I appreciate your comment and the topic suggestion.
denz says:

A nice lesson for those who not believe that complaining can make rich.. awesome post..thumbs up
- Fisayo says:
  
  Thanks for your comment denz.
Shekhar says:

Very True... Normally we miss out on common terms of complain. If given a second thought It could be a mind blowing IDEA. Really experience is a better teacher.... Its beautifully shared.
- Fisayo says:
  
  Thanks for your comment Shekhar, I agree with you.
Alexander W says:

Great article. I agree that you need to be open minded and see the solutions to problems instead of just seeing the problem. I have heard of a lot of people making a living by going around their town and giving advice and ideas to business owners. I myself have not really mad a lot of money by doing this since I usually give my solutions away for free. Ye, I know it might sound weird. But even that has bonuses since the owner of the business I am helping will often give me some sort of bonus or reward for helping them. =)
- Fisayo Sanyaolu says:
  
  Thanks for your comment Alexander.
charlene says:

I like the picture that shows there are more complaints than gratitude. Honestly, one of my strategies as marketing coordinator is to ask clients for their complaints on our services to them. Once they’ve voiced out their concerns, I would do my best to resolve it so that they would always remember me as well as establish relationship with them for easier dealings. So far, it’s effective!
- Fisayo Sanyaolu says:
  
  Thanks for your comment Charlene. I quite agree with you.
Alex says:

I never thought of this approach but you are right. The best business comes from solving problems that people have. Like you example with the selling to the managers of that store an invoicing software. What's neat about your idea is that it can be expanded, because once someone has a problem there might be thousands that have the same problems which you can resolve thus growing your business from a little idea, that actually was the solution of a complaint. Also, complaints can be used as a survey tools, you can gather all the complaints people have and see what you can improve to make your business better and have more returning customers.
- Fisayo Sanyaolu says:
  
  Thanks for your comment Alex. I agree with totally agree with you.
Sandeep says:

A different thought and a very unique article... complaints can be a good source for idea generation.. Good one..
- Fisayo Sanyaolu says:
  
  You right Sandeep! Thanks for your comment.
Kavya Hari says:

Actually, complaints is one of the business idea to get a high income with good support from the BOSS. But, in real life it may not look like a rich, its my point of view, Fisayo. I would like to say thanks for given your post.
- Fisayo Sanyaolu says:
  
  Thanks for your comment Kavya.
Vijayraj Reddy says:

only complaints can tell you what are the areas you should still improve to make the business perfect..
- Fisayo Sanyaolu says:
  
  Thanks for your comment Vijayraj, complaints are really good to entrepreneurs.
Mani Viswanathan says:

Comments can certainly make you think on your work. And perhaps help in improving it.
- Fisayo Sanyaolu says:
  
  Hi Mani, thanks for your comment. I agree with your view. Thanks
Mavis Nong says:

Hi Fisayo,Interesting article. If you're an innovative entrepreneur you'll look for different ways to address any complaints that your customers bring to your attention.It's all about investigating alternative methods in order to improve your service or product.Thanks for sharing.All the best, Mavis
- Fisayo Sanyaolu says:
  
  Hi Mavis, thanks for your comment on your views, I certainly agree with you.
TJ McDowell says:

I think it takes practice to develop the mindset of an entrepreneur. If someone complains about our product, our pride is hurt and we get mad at the customer. If someone complains about another situation, we join in the complaining. It is completely unnatural to look at a bad situation with rose colored glasses. But that's exactly why tapping into this source of information is so easy to do - hardly anyone else would consider doing it. Great article.
- Fisayo Sanyaolu says:
  
  Hi TJ, thanks for your comment. I certainly agree with you on the mindset we need to develop as an entrepreneur. Regards
Moosa Hemani says:

Nice article but i believe the title should not be complained make you rich but i think it should be something like 'Problems brings ideas' or something (just a suggestions) yeah... and i guess this is the idea of e-Commerce websites somehow instead of going in to the rush hours and shop for things why not sit home on a couch in Pajamas, watching television and a credit card in hand and save the time and get yourself aways from the hectic rush hours...
- Fisayo Sanyaolu says:
  
  Hi Moosa, i really appreciate your comment and suggestion. I used "Complaints" not "Complained" because I want to stress the fact that customer's complaint is also a source of business idea. Thanks for reading.

How Complaints Can Make You Rich

About Fisayo Sanyaolu

Our Newsletter

You have Successfully Subscribed!

About Fisayo Sanyaolu

Reader Interactions

Related Posts

{ 33 Responses }

Our Newsletter