One of the most interesting bits of tech news this past week was the announcement that Google is shutting down Google Reader, and without very much official notice. My own experience seems to echo every other blogger’s: most RSS reader referrals come from Google Reader. So now there’s a mad rush of people either trying to promote their own feed reader service as “the defacto replacement for Google Reader,” or they’re trying to start their own feed reader service on short notice. The latter option is less likely to succeed, since they’re competing against people who felt they saw this coming and were prepping their business to capitalize on it.
Someone — more likely many someones — will make a non-trivial amount of money selling a feed reader service to folks formerly using Google Reader at no charge. In fact, many of these people have already been making money doing just that; the cancellation of Google Reader just presents more opportunity. Google’s dropping of Reader proves that even large, successful companies will walk away from a product or service that isn’t in line with their ultimate goals.
A business partner and I were working through some of the details of one of our projects and new areas of possibility began to really stand out. He remarked that “there are so many obvious areas we could expand into.” This is always true for entrepreneurs who always have more ideas than time/resources to execute on them. The more you develop an entrepreneurial mindset, the more of these things you see.
Thinng is, you don’t get rich by just thinking of a great idea; you have to see needs in the market and meet them effectively. Not every need will be the right one for you to fill, and some ideas will need to be dropped like Reader apparently was for Google.
Just remember there are plenty of very successful businesses to be started on the crumbs that fall from the table of the giants.