No such thing as a bad business idea. Just bad implementation, or lack of originality.
Write down every idea you have, in one place (I use a Notepad file) no matter how stupid or senseless or redundant it seems. If you're watching a porno and come up with an idea, pause the porno and go open your "ventures file" and add the idea (or maybe write it down on a spare tissue and add it later
)
Once a week or so, open your list and prioritise it by amount of money/work requried, likelihood of success, perceived return:risk, etc. Do a little online and offline research for each of the top one to five ideas and add it to the file.
Most of what you write down will never make it past a few words or couple of lines on the file, but gradually the better and best ideas will find their way to the top of the list, and as your knowledge of those ideas gets filled out, you'll start to develop plans for them -- and even start seeing connectons, ways you can "cross-build" two seemingly disparate businesses using the same resources (common software or support staff for example.)
Before you know it you'll mot only be in the process of setting up a business for yourself, but you'll have a few other ideas for what to do next or even what to do as a backup in case the first one doesn't work out.
In any event, I wish you success!
Phaedrus
Write down every idea you have, in one place (I use a Notepad file) no matter how stupid or senseless or redundant it seems. If you're watching a porno and come up with an idea, pause the porno and go open your "ventures file" and add the idea (or maybe write it down on a spare tissue and add it later
Once a week or so, open your list and prioritise it by amount of money/work requried, likelihood of success, perceived return:risk, etc. Do a little online and offline research for each of the top one to five ideas and add it to the file.
Most of what you write down will never make it past a few words or couple of lines on the file, but gradually the better and best ideas will find their way to the top of the list, and as your knowledge of those ideas gets filled out, you'll start to develop plans for them -- and even start seeing connectons, ways you can "cross-build" two seemingly disparate businesses using the same resources (common software or support staff for example.)
Before you know it you'll mot only be in the process of setting up a business for yourself, but you'll have a few other ideas for what to do next or even what to do as a backup in case the first one doesn't work out.
In any event, I wish you success!
Phaedrus
Depends on how much success matters there. Reality is that the simplest things consistently make good money with far less risk. Check the stipulations of your assignment, I wouldn't be surprised if there was some provision in there that states your business has to be a legal one so that might limit your options as well. With all that being said are you supposed to treat it as something that you would really open so profits matter, or will you be graded purely on creativity and vision?
phaedrus: Yeah that is good advice, I try to get down good ideas on paper and work with them, but I havent had anything that has stuck out to me as even worth doing much more research with.
Wildbill: No this isn't an assignment, for assignments of this nature I have done restaurants and gyms, written out huge business plans for these things, but I have no interest in actually doing them. Both of those require huge investments anyway.
Wildbill: No this isn't an assignment, for assignments of this nature I have done restaurants and gyms, written out huge business plans for these things, but I have no interest in actually doing them. Both of those require huge investments anyway.
I always think pet services are good opportunities. Very scalable, you can be just a small shop or you can contract out for a lot of services with tie-ins to local people. They work just about anywhere, all classes of people have pets. A lot of the business is taken by Petsmart, but if you just focus on being customer oriented and realize that your profits are in tying up with others and taking pieces of their margin you should do well.
matt,
i have two ideas for you.
the first is open a company that makes boxes. EVERYTHING seems to come in boxes. lol even boxes come in boxes.
the second idea is start a business that will take advantage of the number of retired people. the baby boomers are starting to hit retirement age so something that caters to the elderly should do very well for years to come.
i have two ideas for you.
the first is open a company that makes boxes. EVERYTHING seems to come in boxes. lol even boxes come in boxes.
the second idea is start a business that will take advantage of the number of retired people. the baby boomers are starting to hit retirement age so something that caters to the elderly should do very well for years to come.
SSI: I have a pretty decent amount of money myself, I have invested in the stock market since I was 10, my parents started it out with a small amount of money and it has grown very well, I had a 94% return last year thanks to CNXT, and so far this year around 30% thanks to UBET. I could easily get venture capital in upwards of 200,000, but I don't anticipate my first business needing that much funding.
RPM: There is actually a factory in my small town that makes boxes, out of the whole 2 factories in town, one does make boxes. the elderly thing sounds like a good idea though, now the question is, just what in the hell do they need?
I just ran over to Barnes & Noble to look at some books, nothing in there struck me as interesting. I will probably end up just sitting around and playing golf and poker all summer, my last summer of freedom, I guess that isnt so bad really.
RPM: There is actually a factory in my small town that makes boxes, out of the whole 2 factories in town, one does make boxes. the elderly thing sounds like a good idea though, now the question is, just what in the hell do they need?
I just ran over to Barnes & Noble to look at some books, nothing in there struck me as interesting. I will probably end up just sitting around and playing golf and poker all summer, my last summer of freedom, I guess that isnt so bad really.
