There are inventors and then there are inventors.
I live opposite the guy who invented the Jetski.
He came up with the concept and built the first prototypes… at one time there were no jet skis. Now there are millions of them… all because of this one guy.
It's quite a claim to fame… and he invested it just because he thought it would be fun.
Not because there was a market ‘NEED' for a jetski. People didn't NEED jetskis to go down the shops to buy food… it just seemed like a fun idea.
“What if I could make a motorbike that went on the water” – Seriously every boys dream.
Myself – when I invent things I prefer to go with where I see there is a need in the marketplace.
Like when I invented the teaspoon because I kept burning my finger trying to stir my hot coffee.
Or when I invented the electric car, during a petrol shortage.
Or that time I invented the bathing suit because the sight of my mother inlaw's pasty white thighs kept burning my retinas at the beach.
… Oooook ok ok… I didn't do any of those things.
But I do love the saying – never let the truth get in the way of a good yarn, so….
But I will tell you something that I strongly believe to be true.
You can try and invent things that just seem fun… and the results can be very hit and miss.
The chances of inventing the next jetski or the next razor scooter are slim… because it's hard to know what people will love and what will become the “next big thing'.
A more guaranteed way of doing things is to provide into the market place – what the market place needs…
Prove things that are already proven.
In my case – retail… I just love retail space.
and it's incredibly rare for any of my retail spaces to be empty. I've had some tenants for over 24 years!
And I don't see that changing any time soon.
Yes I know we've all heard the media drama about Amazon going to destroy retail shopping in Australia.
I call bullshit.
We are biologically programmed to hunt and gather. It fulfils some primal need.
The big issue with online shopping is that you can touch, feel, smell.
It's one thing to buy something that's your size, but that doesn't mean it's going to look good.
From what I can see there is no shortage of people who'd rather go out and shop…
Stop at a cafe when they get hungry,
… then shop some more.
There's no substitute for squeezing your avocadoes and sniffing the melons to make sure they're ripe.
This is why I reckon that retail is going nowhere… it's here to stay no matter what Bezos does.
…and if you want to provide something the market is always hungry for and is a proven seller?
Invest in retail commercial.