Forums: Discussions for entrepreneurs and small business.

Hey all,
I find that my mind races daily... always coming up with new business ideas and "ah ha" moments. Does anyone else experience this (I`m sure many of us do, or we wouldn`t be here)?

I have yet to actually start a business, but I have ideas for maybe 5 or 6 different ventures. I think it is great to have all of these ideas, but what about determining which one to actually pursue?

Just curious and thought it may be a good topic!

- Casey

OMG! Me too, as a matter of fact I was begining to think I`m going INSANE!! I will be in the middle of one project, then that starts off a automatic brainstorm that may lead to 10 different ideas!! I`m so glad to know I`m not the only one!

Monica

 

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There`s a fine line between genius and insanity. I have erased this line. Oscar Levant Dreamweavermedia LLC

Yeah. I feel that way, too.
What I`ve been trying to do is create a "pipeline" so I write the idea down, research it, prioritize it and then try to launch the most promising ideas.
Otherwise, I think you run the risk of being paralyzed by idea overload.

The Swaynester

Swaynester... That`s my processes exactly. I am in the middle of 4 books, a couple inventions and of course my number one priority, elusivetreasures.com. What`s next? Maybe writing some music.

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

This is a Great topic, Casey.  Your question regarding which one to pursue is an easy one.

Pursue the one you are really passionate about.  Follow your dreams, Casey.  Here`s why - Starting any business is, let`s face it, hard work.  But, provided it`s something you really enjoy doing it`s not like work at all, but more like a hobby.  In fact your hobbies are a great place to find business opportunities which could turn into a business for you. Lets say you collect toy trains for a hobby. Now alot of folks would stop there and just be happy collecting trains. The true entrepreneur in us would take that one step further and consider buying and selling trains perhaps on ebay.  I just did a search on ebay and found 1032 toy trains being offered.  So, starting a business doesn`t have to be all about just making money.  Starting a business you are truly passionate about can also be fun!  Happy Hunting!

 

Gary  

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"How To" business start-up videos at www.qualityplusco.com

Hi Gary,

I agree with you about being passionate about what you love to do but not fully and here`s why.  I wouldn`t be where my company is today if it weren`t for taking my horse blinders off and listening to an avid 45 year old plus Model train enthusiast that I met at a Model Train show in my state 4 years ago.  It just so happened that I had my PRO`s Soft~Bait Fishing Glue with me and he borrowed it to use at his hotel during the show. Wow is all I can say after listening to him tell me about being the very best modeling glue he`s ever used etc. Since that day I`ve relabeled it and our biggest market is Model Railroad stores online/offline and now going into Japan in a stationary store chain. While my Fishing adhesive is slow to grow and is my first love for hobbies and extremely expensive to market, the wwwDrMikesGlue.com is truely the "Smarty Jones" of my business presently. [website is to be reconstructed] 

I would say, keep your blinders off because you never know what unexpected opportunities lie ahead and I never expected more success from the model train industry once I developed the Fishing glue for my favorite hobby.

Mike

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"Nothing is as easy as it looks but only as hard as you make it"

I think they call it "ADHD",and I would go out on a limb and state...most great buisness men/women have ADHD

I also have to echo that you think about what you`re passionate about.  I will also add make a list of your values.  Is it important to you to be able to make a difference?  There are opportunities out there that will allow you to make an impact in the world around you, such as the one described in www.ourgvrewards.com

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Marlo Thomas OurGV Rewards Where Your Shopping Makes a Difference

I would like to take a different spin than Gary. I say look for something that can make a profit. I had two concepts recently, one I liked better than the other. I sat down with a friend and went over each concept. The one I loved and was most passionate about I ended up passing on because after evaluating it is a business I discovered the one business would allow me to make .25 to .35 a transaction and the other about 500.00 to 1500.00 a transaction. Also the lower transaction amount would also require a lot more advertising dollars because the competition for the key words and the amount of pages that came up in google was significantly more than the other idea which I was less interested in. Bottom line it is fun to follow your heart and your passion but at the end of the day you have to combine that with good business sense.

Good Luck,

John


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Thanks for all of the comments. I really can`t see being in business without being totally passionate about and interested in the area that the business operates. It`s that passion/interest that helps the business grow and helps the owner see new opportunities for the business....

Great comments.