THE PRINCIPLE

Look for customers who are not being served – and serve them

Will Ramsay liked art but found the atmosphere at most galleries unwelcoming and intimidating. Certain that many others must feel the same way, he started the Affordable Art Fair in Battersea Park in 1999. The first one attracted 10,000 visitors who could stroll around looking at paintings in a friendly, informal atmosphere, with prices clearly indicated and not a whiff of snobbery.

Now Affordable Art Fairs take place biannually in London at two locations and annually in Bristol, Amsterdam, Paris and New York, with affiliate fairs in Sydney and Melbourne. Artwork prices range from £50 to £2500 with more than 150 artists taking part in each fair.

Another example is the company Holidaytaxis.com, started by Paul Stanyer. After working as a holiday rep in the Mediterranean for years, he realised that for many holidaymakers, spending their first hours at their destination on a transfer bus that stops at a series of hotels was not a great start to a holiday. At the same time, many tourists are suspicious of the local taxis, afraid they will be taken for a ride in more ways than one. His solution was to start a company that allows tourists to pre-order a taxi that will be waiting for them, with the fare clearly specified.

The company was such a hit that it now operates in 30 countries.

There is no shortage of unfilled needs – only a shortage of people creative enough to spot them and figure out how to fill them.