Consider the following: Currently, the world population is 6,916,296, 180 people. The number will increase by 80 million each year. One hundred percent of them are consumers or potential consumers. This means that they’re all in need of more and better -- food, clothing, shelter, transportation, household products, outdoor equipment, toys, communication devices, utilities (water heaters, water pump, etc.), live stocks, and a wide array of other consumer goods. Additionally, the world environment is in pretty bad shape and getting worst every minute. Fifty percent of the world’s water is polluted with the types of contaminants that produce severe illnesses, birth defects, and deaths. In the developing world, polluted drinking water accounts for 1.2 billion deaths each year. One in five people in the world drinks unsafe water. And, to make matters worst, we are in the mist of a global food shortage crisis.
Everywhere we look there are people in need of products to improve their lives ― and save their lives. These products run the gambit of complexity from simple, (like a special knitting needle, a carving utensil, or a two-part agrarian tool), to complex, (like electronic technology, advance medication, or water purification tablets).
The opportunities for inventors, innovators, and entrepreneurs are staggering! The list of possibilities is obviously too long to include here. What is less obvious is the list of possible profits. For example, one percent of the world population is 69,162,961.8. If someone made a product that produced a profit of one penny for each product, and they sold their product to one percent of the world population in one year, their total profit would be $691,629.62. If they sold it as a profit of one dollar for each product, their total profit would be $69,162,961.80 ― in one year!
Question of the day: What can we do as a country to enable more Americans to capitalize on this big and growing market?
