There is always a ‘GAP’ in market, not just for new inventions but it could be a service for a niche market that is still not provided yet, a product for a limited group of people that is still not developed yet. As a startup OR an established business you need to constantly discover the edges of your industry to find these products / services.
Take an example from our local biscuit manufacturing industry, since years they are introducing branded biscuits and enjoying great margins on their products till recently ( couple of years back ) a few local biscuit manufacturers found out an untapped market of Nan Khatai & started marketing them & they are making serious money out of it.
(The word Nankhatai is derived from Persian word Naan meaning bread and Khatai from an Afghan word meaning Biscuit)
Now you can find Nan Khatai’s in almost every convenience store which wasn’t the case a few years back as it was only manufactured and distributed by few local retailers.
Explore the edges of your business, you might be missing the Nan Khatai of your Industry !