Then you try to build a real
business out of that idea.
Not exact matches
You are the inventor
of the
idea, the creative holder
of that startup passion, the
business development team, the marketing team, the human resources department, the IT department, therapist for your employees and the one who has to put
out any spontaneous fire that might come up.
And with good reason; millions
of entrepreneurs and businesspeople have embraced the
idea that carving
out a slice
of an existing market can certainly be effective, but finding new opportunities — finding blue oceans — is even better, since those gains don't have to come at the expense
of other
businesses or other people.
I noticed a couple
of names who started their small
business out with an
idea and a dream, and now they're globally recognized names with a product and a service that have positively impacted people's lives everywhere.
There's a great deal to be gleaned from people who have actually done what you're hoping to do rather than from newbies who are inventing their «careers» as they roll along, hoping at the same time to get their
businesses built and scaled before they run
out of time, cheap money or good
ideas.
I noticed a couple
of names who started their small
business out with an
idea and a dream, and now -LSB-...]
James Altucher has a great system
of doing this where he thinks up 10
business ideas or solutions that are truly well thought
out, organized and prepared, then sends them to influencers he'd like to know better with no request or ask.
The
out of the box
business idea that you have in your mind might be tough to realize because
of the start - up budget constraints.
Instead, he assembled a team
of tech - savvy individuals and tasked them with thinking up big
ideas, which are then developed into products and eventually spun
out as separate
businesses.
Space Small
business owners «wear so many hats, they usually have pretty limited support staff, and they're
idea factories,» says Julie Morgensten, a productivity consultant and the author
of Organizing from the Inside
Out.
Y Combinator itself has put
out a list
of types
of startups it would like to see apply to the program (many
of them stunningly ambitious), my Inc.com colleague Bill Murphy, Jr. has even uncovered a truly monster list
of 1,001
business ideas (though many
of them, such as a toothbrush holder with actually big enough holes, are probably not going to make you billions), and I've personally rounded up even smaller
business ideas that you can start without so much as a spare $ 100 in the bank.
Daniel shares how him and his wife's
ideas and needs transformed into a
business, how they worked with manufacturers to get their products
out there and how they stay on top
of online orders.
Victoria Treyger, CMO
of online
business loan provider Kabbage, has some
ideas that are worth hearing, considering the company has served more than 100,000 small
businesses in the nearly four years it has been around, doling
out $ 600 million in loans.
But a company that only changes itself in tiny, incremental ways runs a different sort
of risk: being put
out of business altogether by a new
idea that challenges the whole
business.
When you consider the expense
of a conventional launch or startup, the cost
of finding customers, the expenses associated with marketing and advertising, the time required to establish your own set
of systems... the
idea of «buy, build and sell» can be very intriguing, especially if you are just starting
out in
business.
Of course, if it turns out your idea isn't one that will be successful in the marketplace, then you'll probably lose your investment, but that's the risk of starting any new busines
Of course, if it turns
out your
idea isn't one that will be successful in the marketplace, then you'll probably lose your investment, but that's the risk
of starting any new busines
of starting any new
business.
When Amazon does come up with a new
idea — like when it first decided to create a
business out of its cloud infrastructure — Bezos says its also important to try different tactics to achieve a certain goal.
«What I tell them is, 9 times
out of 10, if you've moved assets into some kind
of trust at a place like the Cayman Islands and something goes wrong with your
business, you will be tarred and feathered by the
idea that you've behaved improperly, whether or not you really have.
If your
business idea has a reasonable chance
of success and it's not completely different from anything else ever seen in the world before, banks may very well hear you
out.
The premise
of all these pitches is that you can take any good
idea for a product, service or network (typically someone else's
idea, who is already hitting it
out of the park) and shrink that
business down to a narrower target population or niche, or to a certain kind
of consumer, and instantly turn the process
of serving that smaller segment into a big
business as well.
«Rand has always said that he wanted to be a leader on the message
of the Republican Party, and that means talking about old
ideas that were part
of the party's original message, and introducing new
ideas that might help the party broaden its appeal to groups that may have been left
out of the conversation,» Doug Stafford, Paul's Senate chief
of staff, told
Business Insider.
But one thing that's certain is that if you don't have what XPRIZE founder and executive chairman Peter Diamandis, a panelist at the event, calls «a crazy
idea department,» you're likely on your way
out of business.
I know if you're a young guy trying to start up a
business selling dress clothes to older men, the
idea of hanging
out at some overpriced, elite club during the week after work might not sound like the most fun you've ever had, but in the long run this type
of extracurricular activity might be worth the large bar tab and cigar scent on everything you own.
With the world
of startups becoming more competitive than ever, it's important that a
business leader be as proactive as possible in getting his great
idea out there to avoid the competition sweeping in and capturing his intended customer base.
Much like flying
business class, the
idea of a private jet might seem way
out of reach for many infrequent or family travelers.
If you have big aspirations and are looking for ways to turn your great
idea into a tangible
business model that's run
out of your home, you need a plan.
«Over the next 12 months, I think we'll see some very exciting
business ideas come
out of research in this area.»
You might found that you spend all
of your time talking about the
business, hashing
out ideas, arguing about money, and that all the things that made you friends in the first place have fallen by the wayside.
Rich Dad Coaching's site offers that «Starting a
business is like jumping
out of an airplane without a parachute» (probably an even worse
idea).
Before getting into the details
of which
idea virtually sold itself and the one that seemed to be a near - impossible proposition, I'll point
out that an easy - to - sell
business idea runs the risk
of also being easy to copy — which could be a problem.
From the conception
of your
business idea to the way you carry
out everyday
business tasks, creativity should be deeply ingrained in your workplace culture.
Bill Gates, for example, dropped
out of Harvard after two years to pursue his
business idea (Microsoft) with his partner Paul Allen.
We've all heard the story dozens
of times: A brilliant kid drops
out of college, turns his or her
idea into a
business and ends up becoming a multi-billionaire.
So someone getting ahold
of just your
idea isn't really stealing the most important parts
of your
business out from under you.
The Art Science
of Negotiation, a scholarly work by Harvard
Business School professor Howard Raiffa that applied game - and decision - theory ideas to business, came out the followi
Business School professor Howard Raiffa that applied game - and decision - theory
ideas to
business, came out the followi
business, came
out the following year.
«You need to figure
out if there is a
business opportunity here or just an
idea,» says Jonathan York, director
of the Center for Innovation and Entrepreneurship at California Polytechnic University in San Luis Obispo, Calif..
This spirit undoubtedly rubbed off on me and since I was a child I've been experimenting with side projects and
business ideas, the first being the gumball machines I used to operate
out of my dad's video game store.
When that same
idea comes up in academic circles, it's more likely the self - interest they are trying to preserve is their own interest in avoiding the hard work
of figuring
out which
business behaviours are unethical, and why.
So before you set
out to develop a pitch and raise money for your new
business idea, understand the truth behind a few
of these popular funding myths.
While Kuhn's creativity is driven by the sheer love
of starting companies, Ethan Assal believes that if he hadn't pursued hundreds
of possible new
ideas, his company very well «might have gone
out of business.»
The same gut instinct that served them so well in turning an
idea into a
business proves just as adept at spinning
out a steady stream
of innovations, the kind that leave everybody around them wondering, «Where'd they come up with that?»
That's according to a tidbit
of wisdom in the
business book Dinosaur Brains: Dealing With All Those Impossible People at Work unearthed by Farnam Street, a consistently interesting blog dedicated to hunting down just these sorts
of fascinating
ideas in
out -
of - the - way places.
It's also end
of days for startups whose big
idea is to raise a mountain
of money now and figure
out a
business plan later, and for investors who think clever deal terms or the wisdom
of crowds is a substitute for diligence and judgment.
The
idea of the most effective protection not completely residing on your PC, but floating somewhere
out there can be a hard concept for some self - sufficient
business owners to accept.
If you want
ideas for power poses, try
out Business Insider «s list
of poses for a variety
of situations.
Their
business idea does stand
out: Yucoco helps customers to design and create personalized chocolate bars using an array
of tempting toppings and chocolate options, with delicious results.
What's most remarkable about this scene is that seven months ago, when Guru.com was a fledgling
idea just
out of Harvard
Business School's hatchery, venture capitalists were ambivalent about it.
Part 1: How to Figure
Out If Your Big
Idea Is a Viable
Business Part 2: How to Determine What Your
Business Idea Is Worth Part 3: 4 Smart Ways to Fund Your New
Business Part 4: How to Launch Your Dream
Business Without Going Broke Part 5: 6 Secrets to Surviving Year One
of Your New
Business
The
idea of paying more for privacy is unusual and would require a major shift to current thinking, but it might not be a bad deal in the grand scheme
of things if it leads to keeping companies and governments
out of our
business.
Sun isn't the only one who has noticed the phenomenon
of male investors passing on promising female - focused
business ideas out of simple unfamiliarity with the customer and her day - to - day desires.