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Idea #4 💡 The BIFL Shop

Idea #4 💡 The BIFL Shop
Photo by Artem Gavrysh / Unsplash

From: The Weekly Idea Newsletter

High-quality items that will last you a lifetime vs cheap stuff.

"Buy it for life" is the latest trend I have fallen for. In a world that focuses on getting more and more cheap stuff, it is a refreshing mindset that transformed my relationship with things. Instead of spending money on something cheap repeatedly, I like to invest in high-quality items that might last a lifetime.

The challenge is finding those items because even brands known for their lasting quality produce products with a limited lifetime now. After all, a company cannot make money from products that last too long. It was this dilemma that led to the "invention" of planned obsolescence, which ruined a perfect product (The light bulb conspiracy). While this might benefit a company's profit, it hurts the consumer and the environment.

But there are still products of such high quality that there'll never be a need to replace them. My mechanical watch or the analogue camera I spend a fortune on are just two examples from my experience. Owning these items over a long time not only saves me from spending money on new products but also enables me to create memories with these items and turn them into special possessions.

Love People, Use Things: Because the Opposite Never Works
Joshua Fields Millburn

So what about a shop that focuses on high-quality products that will last? One source I can trust to find the things I want to be in my life?

The Minimal Business Plan

Phase 1: An index

First, I would build an MVP with WordPress; a simple website that just acts as an overview of the brands I trust for long-lasting products. I could compliment it with information about the BIFL mindset and its favourable influences on someone's life. Depending on how this site is received by users, I can evaluate the worth of this idea.

Phase 2: Partners

Next, I would approach the companies I am recommending to discuss a partnership. I could sell their products on my site, which already has active users and would gain a commission every time I do so.

Phase 3: My own product

Once I am established, I could think about creating my own BIFL products. I would have an idea of the areas people are most interested in and then work towards building the ultimate high-quality product.

I like this idea. It is an excellent example of building a business around a niche without risking anything. The only thing I have to invest is time. If I put in the work and reach phase 2, I would be able to build a significant anywhere income and could continue working on this idea while travelling the world.

Idea Dump

  • To gain attention, I could build a YouTube channel that rates how BIFL a product is.
  • A BIFL insurance on the products I sell
  • Names: LastingThings, StuffThatLasts, ForeverThings
  • A certified label that shows how many years that product is expected to last.
  • Sell the rights to put that label on other products.

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As always, feel free to turn any of my ideas into reality. Just be sure to give me a shout-out and update me on your progress.

Good Luck!
Markus