Jeremy Wood, an ex-google employee, realized that one thing the modern generation of innovators hated the most was managing their web stores. From clothing designers to tech entrepreneurs, all they wanted was to spend more time making new products and less time managing sales. That’s where OpenStore came in.
OpenStore is a platform that manages your webstores for you. They do all of the website maintenance, marketing, and traffic management. They ensure this is a profitable business in an ingenious way. Instead of taking a percentage of your profits, they pay you a monthly salary. They take the money your site generates, and no matter how well or how poorly your site does they pay you the same amount each month.
For many this would sound like a bad idea. However, to innovators who want stability, getting a good check even when their store isn’t doing so well is a lifesaver.
This method of payment has made me rethink what people are willing to pay for things. Sometimes people will fork over serious amounts of cash just for some stability. This is the space entrepreneurs thrive in, finding where people are willing to pay for some simple service they could do themselves. I suppose what I’m trying to say is that Jeremy Wood has taught me that sometimes entrepreneurship is less about inventing something wholly new as finding something nobody else wanted or thought to do. Just like how garbage workers make decent money just because they’re willing to touch the trash nobody else wanted to.
In addition, it’s a good example of how using your current knowledge can help you as an entrepreneur. Jeremy Wood worked at google for quite some time, and his knowledge of websites came in handy when he found all of these innovators that just wanted to go back to doing what they loved.
Jeremy Wood did not create anything earth-shattering, but he found a problem and made that problem more convenient for businesses’ websites. Now, these businesses can focus on their product and their business as a whole to improve their output in our economy. Jeremy Wood is a testament to us all along with many others that you do not need to be a rocket scientist and create an earth-shattering invention. Simply find a problem and provide a solution.