Australia Markets close in 2 hrs 26 mins

CEO reveals the only kind of business idea that will be successful

When Ronni Kahn founded the food charity OzHarvest in 2003, she knew it was a good idea.

The chief executive, who ran her own events business prior to committing to the charity full-time, came up with the idea after seeing good food go to waste first-hand, and realised nothing was being done to stop it.

She began collecting leftovers herself and distributing them to a charity, until she started her own.

Only business ideas that fill a gap will be successful, OzHarvest CEO Ronni Kahn says. Source: Getty

“I happen to be particularly fortunate that I came up with an idea that nobody was doing,” Kahn told the New Investors host Sarah O’Carroll.

“There was a gap and there was a need, which is an extraordinary thing,” she said.

And addressing this gap is what made her idea so successful.

“When I started saying to people I would connect good food with people in need...I was a bit like the Pied Piper,” the CEO said.

“I had people coming and saying, ‘What do you need?’ There were so many who just loved that notion.”

If you happen to think of an idea, and there’s someone doing something almost identical to that idea, Kahn said simply replicating it isn’t the best use of your time.

“Go and offer them your help,” she said.

“Go and be that extraordinary support to that. Volunteer your time. Volunteer your energy, your ideas, and be the very best you can be in your day job by doing random acts of kindness, goodness.”

Next read: 17-year-old CEO’s million-dollar journey

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.