The Diversity Windfall
What you need to know:
- Businesses with the most ethnic diversity and gender diversity outperform their peers by 33% and 21%, but many industries struggle with finding and hiring diverse talent.
How you can capitalize:
- Create a service that matches skilled workers without gender or racial bias in a specific industry. With a proprietary algorithm that helps eliminate bias for the hiring of temp and gig-worker jobs, Tilr is on pace to make $10m in its 4th year of business. In addition to matching potential employees with clients, Tilr also handles training, payments, and other related duties.
- This table from the US Bureau of Labor Statistics indicates the racial and gender diversity of more than 100 industries, offering hints of diversity gaps where entrepreneurs could get involved. Among the least diverse industries: construction, media, and law.
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Don’t press snooze on this opportunity: sleep supplements
The signal: As meditation becomes mainstream, people may be surprised to find that searches for sleep apps double their meditation counterpart. As people invest in getting a better night’s rest, there’s opportunity abound, including physical products like weighted blankets or premium PJs, supplements, popular insomnia drugs having their patents expire, companies paying their employees to sleep better, marketing for sleep specialists, or online sleep education (ex: sleep apnea test has 27k searches per month).
The alternative milk market is getting frothy
The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.
Capitalizing on the Airpods market, making more money than Shopify
The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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