So What’s The BIG Idea Huh!
What’s The BIG Idea
There is no doubt that we all get ideas, don’t we? Some more than others I guess, but I know that I am an ideas guy and I love to explore them with my inventor friend.
Together we look at our ideas and whether to ditch them or develop them further. It is important to know what to give time, energy and money to. So, I thought I would help you out a little bit here with some tips I can recommend you consider when you are looking at your own ideas.
The truth is that some ideas could change the world, but the vast majority of them are really PANTS! Sorry, but it’s true.
Whilst an idea ‘in and of itself’ is fun to explore it is not really generally worth much, but some are great, and one could change your life and others lives, that’s ‘IF’ you can evolve it effectively. Any why not try? We all have an imagination don’t we, so we can USE IT!
I just finished writing a book you can see below which can help anyone start a startup, grow an idea or start a business from passions or from whatever motivation.
Its a simple and fun, easy to read book, which is packed with great advice, education, lessons and wisdom from my own expertise and history but also from some of the worlds greatest minds in the last 200 years. What’s not to like? I know I may be biased, but the proof is in the pudding so to speak, so try it yourself and you can be the judge.
The great news though is that I will now include in this post my 24 tips to help you start right.
You can decide what you do of course, but in the end this comes from over 15 years of experience in working with ideas, and in making business models, products and services.
It also comes from my education in working with some of the worlds brightest and most successful entrepreneurs both in invention and in startups, and it comes from what I have been applying from what I have been taught and learned from these great people.
Whilst I include the tips from this book here in this post for FREE, the book itself is a complete instruction manual for taking an acorn and helping it grow into an Oak tree.
Simply – the book is designed to help you determine whether to take your idea to the next level or not, but it also includes every element required to build a business or company around your idea.
Pssssst! You can click the cover to buy it
Now, without further Ado, let’s get right into the ’24 tips’ I can recommend you consider with your idea.
So What’s The BIG Idea Huh!
Ready To Take Some Notes On This?:
1) Start by looking at your motivations and what inspires you every day. If you are serious about any idea then you may ultimately need to invest your time, money and energy into it, so be prepared to work at it and start by looking at your own reasons for starting this, (your motivations), before you go down the road of creating a product, service or business in the first place. What REALLY inspires you most? Is it your upbringing, experiences, education, money, or is it something you have always wanted to do or be involved with?
NOTE: It may be just a passing inspiration you had once – a bit like one executive who got off his train to head to work, who noticed it was raining hard outside, ‘yet’ he had forgotten his umbrella. As he walked towards the exit he thought about how cool it would be to have an umbrella vending machine where he could grab one and go. So, he decided to create the idea and presented it to the crew at the Dragons den. Notice, he didn’t just let his idea go! And it turned out that the Dragons Den team were receptive and gave him a chunky 6 figure deal to work with him on getting these machines up and running. Cool huh! His role today isn’t as an executive for another company, it is his own company which he now operates.
2) Ask yourself probing questions such as; 1) do I want more wealth or 2) do I want to educate others or 3) do I just love inventing or innovating stuff for a particular market sector? Are there areas where you or others complain and wish there were greater options or more choice? Do you see what solutions may be the answer to these in some way? Get them down and explore them. My pal invents stuff, and this can be for any market as he is not a sector driven guy, so maybe you don’t need to even be limited to a sector. Maybe you simply have many ideas in many sectors? In which case – your driver could be just that.
3) Do you wish to create a second revenue stream? If so – how much and why? What will that do for you? How will that help you? Get clarity around that number and define an exact amount if you can, as this will help you to see what kind of business, product or service you will need to sell. And be sure to determine sales units, packages etc. that you will need to reach to hit that clear financial goal each week and month. By the way – how might you invest that extra income? Could you learn another language, buy property, invest in stocks or trade? Could you start a small business such as a unique bed and breakfast or boutique hotel? You can see how to invest further to increase revenue once you know what you want and why. So, what is your ultimate goal?
4) Pay attention to what motivates you to do what I have just mentioned. Anyone can feel inspired or motivated briefly, but how can you make it last and actually drive you forward? And if there is nothing coming to you yet then try looking at what you do every day – and notice each element to see ‘what’ if anything could be improved upon, innovated or invented, which could make your life easier. Or perhaps some kind of demand which has either 1) not yet been done or 2) could be better in some way. Start by looking around you literally, and look at everything you see – what is average? What could be better? What do you have a passion for which you could be excited about being involved with?
5) Think about ‘what’ if anything could make your life OR another’s life easier, or what type of product or service really needs to be created now to help in some way to help you or your friend or family member? Also, what trends or demands are emerging and how can you be the ultimate solution? There are always emerging trends and innovations out there, but what is out there now or what is missing? Look at potential competition, and see if you can do something which can disrupt or even out-perform what your competition currently do. Sometimes the obvious things could be missing and often are.
6) It may be that you wish to start an entire huge empire or company in some form. If so – in what? Do you wish to start a startup? Grow a brand like I have, flip properties, create other businesses, franchises – or are you more into digital transformation? Start in small always and expand out with the right team and vision and try and gain some traction with loyal followers. NOTE: I watched a program in the USA where two girlfriends started creating funky unique bright and fresh looking motels. They took old worn failing places and even derelict properties and turned them around.
They focused on particular demographics which were; 1) bachelorette parties and 2) romantic getaways for couples. So, they catered to their needs. Starting with one motel they invested everything into it, and then reinvested that revenue into the next one. They saw many derelict motels and they took their chance. It has paid off.
7) What are you core interests and are you expressing them or sharing them? Did you have interests as a kid which you gave up? Did you have a fun hobby or passion which you could start as a side project to share and monetize? Try and think back to childhood, and look at the fun stuff you did, were there dreams or interests you had which you never realized? Take some time to go over this in a quiet place without distractions. Remember that – today there are many ways to start a business.
8) What issues are out there now and how might you solve the problems around them? As I write this in 2021 I see many major changes occurring around me. Are your passions political, personal, spiritual or something else? And do they have a great importance to you? The world is always changing, so how do these changes affect you and others? What is the global impact of that? What is the global or local market doing about it, and how can you notice an area you can get involved with?
Do you have a particular religious interest in your community, or in a charity – or perhaps a political interest to support your community? Why not lead the movement in some way? Become a modern leader.
9) We all face challenges every day so where are the challenges in your own life, culture, family, work which you can help solve? Write some ideas down and look at where you may understand this and be able to offer some value. Maybe you could start a group / workshop / product / service to help your community in some of these challenges, and even evolve this into a coaching or mentoring platform? I have done this and added many products to my brand over time. The great thing with designing a brand around you is that you can change what you like when you like.
10) One thing I have found is that ‘if’ there is something you keep returning to for whatever reason, this could well be a an idea worth pursuing or even a winning life changing idea. What idea/s do you keep returning to and why? What is it that keeps cropping up for you? Is it a feeling of intuition or of inspiration, maybe like a hunch? What concrete actions are you taking on this? Have you fully explored the possible validity of a worthy solution in a particular sector or industry?
11) What are you prepared to pay for and why in your life? And what are others prepared to pay for and why? You will be surprised at what you may find here – and what may be missing in the world now. Really think about what you would buy to help your life – and what isn’t there yet in the market. Why should you or I pay for something if it could be more useful or of greater quality for example? NOTE: In you creating greater quality it could also mean that you and others are prepared to pay more. Maybe you can support your local business as I do in Bristol my city.
NOTE: In supporting a local business or cause you may be able to help them to promote their products and you can help to build their businesses and even have a share in revenue, whilst also ensuring quality standards are met and local produce is in demand over importing lesser quality products. This may also reduce environmental costs and issues associated with transporting goods from abroad.
12) Looking at your daily life, what do you need or want in your phone, family home or car to help you and make life easier, and what isn’t there yet? Maybe this is an area for you to expand upon? It could be an App of some kind perhaps, or it could be a feature or function which doesn’t yet exist? Pay attention to what is annoying, slow, laborious or inefficient and see if you can improve upon what is perhaps not up to standard in some way. Some companies create in-house technology to help the perform better than competition and have an edge, so maybe you can create something such as software, hardware or something else which can then be sold to large companies?
What’s The BIG Idea
13) What skills and expert areas do you already have experience, knowledge in, and awareness of or around? Can you expand on these? It is often easier to build on something you can do more easily than others. Tip; whatever role/s you have had in work and at home you may be able to share and consult in. I consult in small business growth and development, as I needed help with this myself so I knew I could help others once I has mastered it.
I knew my VALUE! What is your greatest value? Where can it be used?
14) Think about your traditions, beliefs, education, background, upbringing, culture and so on. Use whatever you feel you can use and share with others, and see how this may improve lives of others who also have these same traditions. You know your culture best and you know what you stand for and your past generations have stood for, so what surrounds this?
Do you have local traditions in dancing, writing, cooking, pottery, building, making clothes, etc. What is unique about this?
15) An example I can share; I worked in call centers for a few years as a teenager, and I had to learn how to talk to others, I had to sell but I also had to know how to deal with difficult customers, so I used these skills to teach others how to sell – as I had gotten good at rapport building and putting others at ease. This now incorporates into my brand and consulting.
What was once very stressful for me became an asset I could use elsewhere.
16) What ideas did you already have going back many years? Just because you may have forgotten all about childhood fun and ideas to a degree, it doesn’t mean that these ideas weren’t decent. Or you may have had more recent ideas? They may have had great potential, YET you may have simply let them go because of being busy, financial constraints or other reasons? So pull them out of the back of your mind and get it on paper and look at them again in full detail. Who knows what it may offer.
17) Maybe you are target market to others? Use this information to see how they market to you. How can you use what you have learned about this? If you love Cooking, Shopping, Video games, Makeup or anything else – then use your knowledge to find out what they do to promote to you. And then see how others can become your target market also. We are ALL a target customer to someone, so use your own demographic to help you become this to another.
TIP: Start creating a highly targeted list so you can build subscribers and later on sell to them. If you start a startup ask lots of questions to them, and create FREE LOYAL FOLLOWERS to build up a fan base. Eventually they will be buying from you and may become repeat, loyal customers creating retention for you – and even referrals.
18) What is in demand right now? Study markets and look at researching these markets. Why is this in demand? Is this being catered for in the most effective ways? If not why not? What can you do about it now? TIP: In the UK since 2019-20 there is now increased interest in bikes, environmental issues, pet grooming, crafts, Gin and rum, Outdoor pursuits such as camping, Independent shops, Staycationing, local produce, Bed and Breakfast businesses, Road trips, and many other areas – so explore where the demands are NOW and seek to offer an option and stand out from others where possible.
Trends can and do come and go, so be sure to look at if this is a just a passing trend or not. If so, beware of the fact that this may not be here in a year. So where will that leave you? Try to look ahead of the curve at something which will continue to grow over time.
19) Start to research other businesses, companies and potential competition from what you have discovered so far from previous questions above. Gather your information – join those mailing lists, and study what you have found so you can look at what is really going on now, and see also what other businesses have done for you. Visit the most specific conferences, events and shows to help you grasp others stories, values, brands, ethos, ethics and missions.
Get out there and visit those trade shows and stores and look at what they offer now. The goal is to see how you could have an edge over others by being unique but also by staying ahead.
20) Take some valuable time now to probe like a mad scientist to become more aware of what you can do better, different or instead of what is there. And consider timing and potential for growth, as they are important factors in your research. If you get the timing wrong then you can probably will fail, so do not put all your time and effort into something if it is no longer relevant.
Don’t negate any area here. It is critical that you fully grasp every element before investing huge amounts of time, money and energy into anything with a team.
21) Look at current standards and costs of what is on offer to you, and if you feel as though you can do something greater or even cheaper than this. Yes you can become cheaper. It might be that you can undercut your primary competitor. So look at ‘why’ what you do will be of greater VALUE in some way and for what reasons. You do not need to always be more expensive to be a better choice. Remember also that, you do not need to re-invent the wheel, you just need to do something in a different and appealing way.
Some of the most successful businesses and products were not revolutionary in the slightest, they were simply just popular or more in demand. TIP: Some people don’t even realize what they need or want until it appears, and comes up and smacks them in the face.
22) Some of the greatest areas for small businesses are not always transformational or inventive, they are simply desired. Read that sentence again! So, look at what is desired, not necessarily at what is more advanced or innovative. It might be that you simply offer something which varies enough from what is out there, and it may be very simple, or it maybe that a slight change upon what is out there now is all that is required?
I know this may sound repetitive, but for good reason. It needs to be understood and absorbed to really see what is possible.
23) The health food industry is always growing as natural medicine, awareness and education also increases, and as an example – you may be able to source great ingredients locally which are in demand and cost you less to acquire than others who have to bring in ingredients from other countries, which may improve the health of your people. Have you seen the explosion of alternative food types? Thus – you can gain great market share and even perhaps dominate a market through understanding the power of nature, and also the process’s involved in creating the product nearer to home.
And this may help with your product being more direct to your core customer who is local and cares about their health and the health of the planet.
24) Look at the bigger picture. You may be only looking around you personally and locally, and this may be what is really getting you excited. But what if some idea, invention, product or service is ALREADY used in another country and not yet in your Country? So, don’t simply negate something just because it seems not relevant to you, too simple or unsophisticated in some way for your culture. It may be appealing.
Often the simplest things are the greatest things, remember? Finally, be sure to watch programs such as Dragon’s Den and other entrepreneurial stuff to help you feel inspired by others ideas and creations. And take notes.
You never know – in your sleep you may dream up an ultimate solution, and this actually happened to one man who dreamt that his home was on fire! This chap rolled out a portable ladder in his dream which he hung over his balcony, as he lived in a high rise block of flats – and this idea was to become a reality.
When he woke up he wrote it down, and today it has made him a multi-millionaire as he has created this ‘roll out ladder’ product in varying sizes for various length requirements, and it has saved countless lives globally. Pretty cool huh!
So What’s The BIG Idea Huh!
Now you are armed with the most powerful questions to ask yourself, and I suggest you take some time to go over these and to complete what you start, as one of the biggest mistakes many people make is never finishing what they start. Don’t procrastinate, or put it in on the back burner, start writing it down.
All great things take time, otherwise they wouldn’t be great. So ensure you practice focused specific targeted actions towards what is needed most and you can create something extraordinary.
I hope this has inspired you to take action and go after what you have dreamt of going after, but never quite started. Well, now it’s time to start.
All the best with your ideas
Greg
P.s. What will you have if you get the book? Great question:
- The advice and expertise of some of the worlds greatest startup founders on building teams. Essential even vital to evolving anything right
- My own advice over the past 15 years of helping and supporting startups, small businesses and entrepreneurs in starting right and reducing risk
- The focused mindset required to make it happen, and see it through and this is what often is the most common failure element.
- The greatest resources and links to join the right groups, trainings and founders to learn from and help you become an expert creator
- The most powerful ways to grow a team that all have the same passion as you do for your idea and can get results through hiring right
- Inspiring stories from successful inventors, innovators and industries which have brought the world life changing products and services.
So, if that interests you you can grab the full book here for a price of a coffee: This Little Idea Went To Market Full Book
Free consultation on business planning here: www.GregDeTisi.com
Try my passion to profits course Free here: www.BusinessIdeasIncome.thinkific.com
Read this story of two brewers if you want to feel inspired by the fact that weird ideas can work – and often do:
So What’s The BIG Idea Huh!
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