Is innovation is overrated? I mean, come on now - why waste time innovating when one can run a thriving business without any of it? Just think about it. Innovation sure is a strong selling point - but its a lot of work and the audience is really a niche. The vast majority couldn't care less.
If you really want your business to thrive, you should be exploiting the following aspects of human behaviour:
Come to think of it - the businesses which bank on these are the more successful ones. Consider this sampling:
This is a business which makes its living based on fear and insecurity of others. "If you don't do this you are gonna die". Take fear out of the equation and insurance industry ceases to exist.
Again - this industry survives on insecurity and ego. "If I am not fair-skinned, I will remain single forever." OR "Why is everyone looking at her and not at me? ".
Of course, they do have dumbness as a side-dish every now and then. Need I elaborate?
Education has now grown into a multi-gazillion rupee industry in India mainly fuelled by parents' ego. The line between "I want to give my kids the best" and "I want to show others that I have given my kids the best" has blurred. In fact, the entire definition of a "good education" rests on the amount one spends for providing that education. It doesn't matter if the kid has no exposure to real life beyond the school compound. What matters is the parent spent lakhs for the donation - therefore it is the exclusive, high quality variety.
Most daily soaps, many reality shows, quite a lot of the movies, even a sizeable chunk of news - all feed on acute stupidity of viewers. Try coming up with an entertainment program that, to get anywhere, counts on the intelligence of the viewer. Then see what degree of success this program meets with.
Note: Intelligence, here, does not refer to Q&A reality shows which have mind-numbingly difficult questions like "How many eyes does a normal human being have?"
This is just a sampling of course. There are several more (including medicine, law ... ) which exploit one or more of the above factors. So, which one are you going to pick in order to flourish?
What? You haven't picked any? Didn't I tell you that this is essential for the very existence of your business? If you don't adopt a strategy to exploit one of these points, then you will not be able to survive. Your business will die a slow, horrifying death and you will left to fend for yourself. So, please get back to the drawing board and include one of these in your next exploitation plan.
(See what I did there? :D)