Showing posts with label business ideas. Show all posts
Showing posts with label business ideas. Show all posts

Thursday, July 7, 2016

Mentorship: The Secret Weapon to Becoming a Successful Entrepreneur

 At the forefront of every entrepreneurial venture are two certainties: the conception of an idea and the desire for seamless execution. Everything else is a mere combination of fear, inexperience, ignorance, and zeal.  Although this disposition can be unforgiving, it is a part of the courageous discourse of entrepreneurship that every entrepreneur encounters and often overcomes. For example, entrepreneurship is theoretically equivalent to preparing for war; you know you want to fight, the foreseeable outcome is winning, but executing that victory is jumbled in your lack of experience as a fighter, the fear that it may kill you, and jumping head first into a situation with inadequate preparation. Fortunately, proactive and preventative resources exist to minimize the risk of failure when taking on the battle of business. More specifically, mentorship is a key weapon capable of optimizing success in the realm of entrepreneurship.  

Mentorship, although commonly undermined and underestimated, places you in a position of observation (and in some instances, participation), allowing you to become more familiar with the craft or career of your choosing. Consider this: having a single conversation with an individual who has soldiered through the trenches of entrepreneurship can spark myriad ideas and transform the way you approach your own business. Imagine then, what magnitude a series of conversations throughout your journey can yield when you answer the call into the world of start-ups. In fact, don’t just imagine; having a mentor should be attached to any business idea that you intend to pursue, so much so, that the idea should be impossible to fulfill without one. 


The benefit of being a protégé to a professional who can enlighten you far outweighs the cost of seeking the right mentor (it can be an intimidating and daunting process finding the right person who is willing to work with you as much as you are willing to work with them). In a 2003 study conducted by Jackson et al., it was reported that mentoring relationships are key to developing productive careers and yield personal satisfaction for both the mentor and the protégé. The ability to have someone who can critique your ideas, give you constructive criticism, and encourage you along the way can eliminate potential setbacks that derive from error. This is not to say that you won’t make mistakes, because you will. However, there is a safety net the works both proactively and retroactively to activate damage control. “Mentors provide a safe, secure culture in which protégés can develop ideas/innovations, ensuring that they receive the recognition their efforts deserve”.

Once you’ve come to terms with the necessity of a mentor/mentee relationship for any startup or entrepreneurial endeavor, “the search” must commence. The search is simply finding someone who is adequate enough to lead you and humble enough to be challenged. Equally important is your connection—how well your personality gels—with the professional. Research suggests that mentor relationships are best formed in unprofessional environments.  Perhaps find common interests and build on those first. Finally, seek someone that can contribute effectively to the circle of inspiration; you inspire him and he inspires you. Mentors gravitate towards rising stars, so show why you deserve to be among and even transcend them.

Entrepreneurship will never be easy, but if you’re prepared you can handle whatever it throws in your direction. Look at it this way: You would never show up to war without your weapon and expect a victory, let alone an easy one, so don’t show up for business without the right tools expecting success to fall in your lap.

Wednesday, September 4, 2013

Some Startup Business Ideas For 2013

Where is the next great startup business idea coming from? It might already be out there waiting to be plucked off the internet and put into practical use. Always remember that in business there isn't really just "one thing."

Consider your own neighborhood. How many dry cleaners are there? How many nail salons? How many restaurants?

Businesses offering the same goods and services can coexist. What makes your business successful is how you innovate and market. Since more and more folks are turning to smartphones and tablets for daily use, you could find a sweet spot developing a product or website to fit the needs of all those potential users. If you're looking for an idea for a startup business consider these hot concepts:

Neighborhood Social Networks

Yes, everyone is on Facebook but that doesn't mean everyone is "connected" in real world terms. When it comes to social networking, staying local could be a big benefit. Developing a social hub for various communities could turn into a broader venture. Just keep it in the community.

Social Network Address Book

Speaking of social networks, there doesn't seem to be a decent address book that works across several platforms. Yes, every Smartphone has a version of an address book but supposed you want to organize all your online social contacts in separate categories? Where is the app for that?

The Next Great App

There is always room for a new great app. What about a digital business card or a digital customer loyalty card? If there was a way to scan those types of items and share them with other Smartphone users it could be a big plus to many businesses and reps.

A New Kind of Craigslist

So far, Craigslist has cornered the market when it comes to internet classifieds. Is there a better version? Perhaps something that isn't so cluttered? Maybe one that focuses more on trade than personals? Worth thinking about.

Group Shopping

Many fans of shopping like to do so with friends. What if you could go online shopping with your BFF? That could be a huge game changer for a smart ecommerce site.

Photo Sharing

There are many popular photo-sharing sites like Pinterest, Tumblr and Flickr. Is there room for more? When you think about the amount of pictures being shared today then the answer is "yes." The hook would be to come up with that tool or "cool factor" that the other sites are lacking.

If you've started up a new business this year, let us know. We'd be happy to share the good news! 

Thursday, August 8, 2013

Crazy Business Ideas That Worked


There is no telling where the inspiration for the next great idea will come from. You could dream up a new invention or think about a perfect solution for a problem in your life. Wherever that idea comes from don't be discouraged if anyone thinks it’s crazy. All it takes is that one great crazy idea to launch a career and fill up a bank account.

Here are some examples of crazy ideas that turned into serious cash:



How many times have you thought, "if only I had a nickel for every (fill in the blank)?" Alex Tew took that concept and turned it into an advertising bonanza. He set up a webpage which was a kind of virtual click-through billboard. There were 1,000,000 available pixels on the page that he was selling for $1 a pop. It took him just over a year to reach his target goal. The billboard is still up and drawing new visitors every day. Not bad for a crazy idea.


If there is one thing folks love to do it is pamper their pets. When Roni Di Lullo noticed her dog squinting up at bright sunlight she thought he might benefit from the same item she used: sunglasses. All it took was a little product development experimentation and Doggles were born. So was another million-dollar business.


Speaking of dogs, there is always a daily cleanup that occurs when you've got a pup around the house. Well, it's supposed to be a daily cleanup. In some cases, folks let their dogs do their "business" in the backyard and hope that it will somehow disappear. It won't. That's good news for Matthew Osborn who created a company that offers full service dog poo removal services. That local homegrown business turned into a national franchise which is now the largest pet waste removal company in America.


Throughout history, monks have been known for their studious nature. It seems as though every monastery has their own cottage industry used to raise money for the poor and for the upkeep of the brothers. Back in 2002, Father Bernard McCoy was shopping around for cheap printer ink and decided to make his own from recycled cartridges. Thus it was that Lasermonks was born. From first year earnings of $2,000 the company has gone on to make over $4 million annually. Not bad for some reused ink.


So what is your crazy idea? Maybe it's not that crazy after all.  

Tuesday, April 24, 2012

Tips on How to Generate a Great Business Idea


There are some that say that business ideas are a dime a dozen. The real challenge is finding a business idea which can translate into success and profit. Even a professional think tank whose sole mission is to create great ideas don't always hit them out of the park every time. Coming up with a great business idea is really a matter of trial and error. The most powerful lesson you can learn could be from your failures. The following are some helpful hints that can allow you to develop a proactive approach towards generating great business ideas.

·         Listen hard: A lot of the great business ideas come from a source that is available to everyone and that is listening to what other people have to say. This doesn't necessarily mean conducting surveys asking the question, "What's the one thing you need that would make your life better?" Instead it could mean just being aware of the people around you are saying. Take the occasional ride on the subway or bus and listen in on conversations between workers. Take lunch outdoors by yourself surrounded by an other workers to hear what they have to say. Is this eavesdropping? Of course it is but as long as you're in a public place you’re not breaking any laws by listening in on a conversation that someone is having right next to you.


·         Write it Down: There’s no telling where or when that next great idea might come from. You could be woken up in the middle the night with inspiration or find it sitting in a traffic jam. The important thing is not to let that idea escape. If you don't have access to a notepad and pen there are plenty of cell phone apps which allow you to dictate a random thought. At the end of the day or week go over your notes or record of memos and see if there's anything worth developing.


·         Walk Away: During the brainstorming process you could be put yourself under some self imposed pressure. If you say, "I have to come up with a great idea by five o'clock today", there's a very good chance you won't come up with any idea! If thinking about a project has you hitting the proverbial brick wall then get up from your chair and go for a walk. Take a shower. Go shopping. Do anything that will give your brain a rest and allow other sensory inputs to flow in. Once you clear out the stress you could discover that you're now free to create.


·         Don't Hesitate to "Borrow": The famous writer Tolstoy once said that every story idea is either a stranger that comes to town or a man embarking on a journey. If that is true, then every storyteller has essentially borrowed from every other storyteller; it's just a matter of putting your own spin on a variation of a theme. That same principle can be applied to generating a great business idea. Check out what the competition is up to. Maybe you could be doing the same thing only better. This kind of research could also inspire you to go off into an entirely different direction. Great business ideas don't happen in a vacuum.