Perhaps you could use your knowledge more smartly

Use your knowledge in new ways. That was the thought I had during a conversation with our guide in Ha Long Bay in Vietnam in 2012. He dreamed of his own boat, but perhaps he could use his knowledge of the boats in an entirely different business.

A guide dreaming of his own boat

We’re on a little cruise in Ha Long Bay, which I describe in the video as one of the world’s new seven wonders. I enjoy the view from our little kayaking trip and joke that luckily I’ve brought an engine along. The area is beautiful.

Our guide is called Star, like a star. He speaks English, which I say not many people could in Vietnam. I ask what his dream is: Does he want a boat like that in ten years? No, he says. In just five years.

It makes sense. When you work as a guide on a boat, dreaming of owning your own is natural. But he also tells me there are no licences left. It’s not that easy, and it takes a lot of money.

Use your knowledge in new ways: What about a website?

I suggest he could make a website providing an overview of the boats and listing the various options. He thinks it sounds interesting. He just hasn’t thought of it.

If he knows the boats and the area, perhaps he doesn’t need to own a boat to build a business around them. He could use his knowledge to help customers find the right trip.

I often find people get stuck in their industry and its way of thinking. I think it’s because they don’t get out enough and encounter other perspectives. Stay informed, read and let other ideas challenge you.

Turning the model upside down can change the work too

What happens if you do the opposite of everyone else, or something entirely different? I push the options a bit in the video: Do you want to save for 117 years for a boat and battle through a system to get a licence? Or could you use another model?

I also give my political assessment of the risks under communist rule, where in my view the state can take your things, and of bribery and gangsters who can make life difficult. That’s my strong opinion during the trip, not an investigation into Star’s particular situation.

Even if you manage to get the boat, you have to sail around with staff and all the practical problems. With a website, perhaps you could instead refer enquiries and take a percentage of the business. I imagine the freedom to travel around and see the world. I know which model I’d prefer to investigate.

Star can still buy a boat later. But then it could be for holidays, relaxing and fishing. He doesn’t necessarily have to run the whole operation himself. I say, rather provocatively, that he could let others sail around earning peanuts.

Inspiration can come from an entirely different industry

Take what you know and throw it up in the air. Are there other ways through it? Other models? Look at how people in other industries and places do things, and ask whether you could approach your own industry differently.

The gold often lies in turning everything upside down and positioning yourself somewhere else. It doesn’t have to mean doing the same as everyone else just a little better. You’ll find more of my experiences of finding new business opportunities in Iværksætter til jeg dør.

Now I’ll enjoy the view once more. We’re heading back to Hanoi with the family the next day, and the next video might be from there or from Thailand, possibly Hua Hin. We’ll see. It’s certainly beautiful here.