Business Idea #144 – An Impartial Advisor

by Byron on July 25, 2012

The Problem:

These days, everyone’s a promoter.  More and more people are making their livings promoting things.  Who do you trust in such a vested interest world?

The Business

Impartial purchasing advice.  Pick a vertical.  Any vertical.

I did a baby registry today.  (I’m expecting a boy in November.)  It was actually as close to impartial as partial advice gets.  I felt comfortable with her promotion of multiple brands.

Real reviews – actual customer reviews – are not new in business.  But they are exploding.  The Internet has taken the always popular testimonial to an entirely new level.  It has also made it harder to trust what you are reading.  Hence my verified testimonials idea of a month or two ago.

Impartial advice is growing in importance all the time.  It’s why Facebook will have a harder time succeeding at further monetizing than everyone thinks, and Google still has the best monetizing web business on the planet.  When someone makes money off of me on Facebook, something that should have been impartial, I feel used.  When I search on Google, I’m asking to get used (at least on the top and on the right).  I know it and I’m good with it.  In that moment, I want it.  I’ll take care of myself, thank you very much.

But you don’t need me to tell you this.  You know.  When you are aware of someone’s agenda, you take the advice they give with that agenda in mind.  When they didn’t tell you they had an agenda and you find out later their advice had a basis in their agenda, you’re pissed.  Trust is lost.  And trust is very difficult to regain.

That trust is worth money.  People have paid for it since the first lawyer ever put his name on a letterhead.

There’s no reason why someone won’t pay for it in retail too.

Doableness

Actually, there are a number of reasons why people won’t pay for it.

  • The item is too small to warrant paid advice
  • The decision is made too hastily
  • People want to trust, and will trust where they shouldn’t
  • Other people give advice for free – just look online

But I see a paid consultant for purchases working in a number of spots.  Cars.  Wedding Registries.  Baby Registries.  They already exist in houses (realtors) and home furnishing (interior decorators).

My Thoughts

There is a woman around where I live that does it for car seats.  Literally, this woman’s entire job is telling you what car seat to buy, and then installing it for you.  I think she gets $100 a pop.  People feel better when they go to her.  This is what I’m talking about.

I’m sure you could make a living from what I’m talking about, just as this woman does.  But, ultimately, this idea is weak.  But it’s making me further realize the strength of the verified testimonials idea.

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