Wednesday, March 27, 2013
Million Dollar Ideas
Depending on who youask, ideas are worth somewhere between zero and infinity. Often times aspiring entrepreneurs wonder how they can come up with a million dollar business idea. They imagine that this alone is what separates them from riches that they so desperately deserve, however ideas are just the begging and often times an accessory.
When it comes to million dollar ideas, they are unnecessary. You do not need to have a great idea or moment of genius to think of a million dollar idea. In fact, you do not need to think at all! All you need to do is walk 50 yards in any direction in your local metro area and you are sure to see many many million dollar ideas in action! Million dollar business ideas are common, they are everywhere, and they do not require much ingenuity.
The big ideas, the ones that really count are billion dollar ideas. On this front, creation and ideation is used and in some big or small way the world is slightly altered or downright changed! When it comes to such ideas, their power for force and impact is proportional to the industry that they are in. For instance, a profound and groundbreaking idea in Information Technology is far more powerful in its ability to quickly change the world -and your pocket book- than a similarly brilliant idea in construction.
Implementation! Without the ability to peal the union and go deeply into the idea, surround it with a great execution plan and render it, it is nearly a waste -nearly because you are sure to learn in the process. This is where good planning and strategy come into play, and the art of selling.
When it comes to this sort of thing, I encourage that you look at trends. For instance, if you began investing in Convenience Stores (something that could be easily spotted in any metro area) in the 1980's your chances of being a multimillionaire today are very high. Look at today's changes in your local landscape, in demographics, and in the types of businesses and industries that are seeing massive growth.
So, in the end, what is the real value of a great idea? Well, it really depends on you and your ability to execute it.