Forums: Discussions for entrepreneurs and small business.

  This has been on my mind the last couple of days. I am wondering  how other`s handle this. If you have an idea and then it goes nowhere how do you decide when to let that idea go and pursue anothere idea (that hasn`t been thought of yet) ?
  This is assuming that there hasn`t been much capital invested in it yet? I have a domain but that could cover other idea`s.
  Looking forward to what other`s do when they are stuck.


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Kathy,

I have an idea book. Have kept it for over 30 years. Write it all down. No matter how crazy or insane. Then, do the due deligence. The research. Write the business plan. Run the numbers. At this point, you can make an intelligent decision if you should go forward. If the numbers don`t work, I don`t do it. File away in the book - might work at a later date or with more research and data. By having ideas in "the book", it gives you the capability to go back and hit the "refresh" button on the main harddrive (your brain) from time to time. Ideas can morph into better ideas. The more you review them, the better the ideas stay in Drive C and the more attention they get.

Remember, to come up with a great idea you have to have a lot of ideas. Just keep `em coming and do your homework.

R@

 

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Richard Arnold · Key Concept Writers · Business Communication: The "Key" To Success· Law of Attraction Blog · Life Ain`t Brain Surgery Blog

Great Suggestion Richard.,
  I will defintely start keeping a book. Thanks


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Kathy

I did not get a full understand in regards to how much effort, capital, etc you have put into make the idea a reality.  I recommend doing a commercial opportunity survey or review before either moving forward with an idea or opportunity or quieting.  I have seen a lot of people stop feet, sometime inches from success.

Good luck!

 

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Erik
www.usspin.com
www.unitedbusinessalliance.com

Erik,
  I have devoted close to a year on this project. I have made 3 prototypes that fit many chairs. So alot of effort. As far as capital I haven`t spent much. I have bought a new sewing machine and material. I don`t have alot of capital to work with. I have researched alot on the web and only see a few that make office chair slipcovers. 
  Thanks


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In the area of marketing, have you hit up local office supply stores? I virtually live at staples and don`t recall ever seeing anything like that there. All you need is to get one store to try it out and see how they sell. If you get one on board the rest will follow suite once they see the income potential.

In pitching or ditching an idea, I have some family members that have absolutely no clue as to a good idea if it bit them in the ... you know. I run my idea through them and if it is a good idea to them, I know not to mess with it. If they think it won`t work then those are the ideas I work on.  

Engraver,
  That is a terrific idea. It`s funny because while I have gotten some chairs to use as models I have also gone into both Office Max and Office Depot and seen what models that the cover fits I am going to see if there is a Staples around this area.. I never thought about approaching them with the idea. Maybe I could have one that they could display there and see where it develops. Also on the forum bizchair was mentioned. I am considering that also.
  I know what you mean about family and think the way that you do. If they like it then something is wrong.
  Thanks everyone for the great ideas. I guess after reading the posts and thinking it over I am just not ready to give up on it yet.
  Kathy


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What ever happened to touching base with the young man that has built an $18M office chair business?

I thought you were excited about contacting him. Don`t tell me you talked yourself out of contacting him ... the fear of success - fear of failure syndrome?

Hi Kathy,

Some great advice here...research and feedback are so key.  In my own experience, my gut is also a dependable guide.  I wouldn`t discount that aspect.  Or in the words of Donald Trump:  "never give up."

A wonderful thought from Richard about the idea journal: it gives you the capability to go back and hit the "refresh" button on the main harddrive (your brain) from time to time. Ideas can morph into better ideas. The more you review them, the better the ideas stay in Drive C and the more attention they get.


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Kim
the-petset.com
blogfabulous.com

Keycon,
As we have talked about in other posts, you and I are "list"
people. Therefore I too have a "book" that I place all my ideas
into. Even small idea that I know I will likely never get to, goes
into my book. This leave me brain power to think of something
else.

But getting to Kathy`s question. I call an idea dead when I have
talked to everyone I know (SUN being a big part of it) as I try to
build interest from others. Most of my ideas involve more
talented people than I. So I will post ads regarding my needs
and do what I can to work the project.

Eventually people will come onboard, or they will not. If the
resources are not available today, they may be tomorrow. Into
the book the idea goes. I guess the idea floats in and out of
conversations until eveyone I know is tired of the subject.

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Vincent Wilcox (a.k.a. KRAKR)
Drummer
My band: Letters Make Words