This is an exciting, but rather frustrating story about my friend Chris. Currently he’s an employee–actually my customer service rep at one of my business suppliers. He already knows he’d like to start his own business–probably a one man show to start, although his wife will likely contribute somehow.
So he was telling me last week about the last two business ideas they had. Over the past few years they’ve brainstormed a couple of legitimate business ideas. They did their research, looked into costs, asked some legal questions–really did their homework. However, each time, for whatever reason they couldn’t pull the trigger.
And here’s where it gets frustrating… Both ideas in hindsight were right on the money! They were ahead of the curve on each and can now see the success others are having in those same areas. The things he saw as openings in their niche really were there for the taking. Chris feels like they’ve wasted two good opportunities and how many can you expect to get. He’s frustrated seeing his idea executed by someone else.
But I take it as good news. He obviously has a nose for these things. He’s involved in his niche and can read trends. I expect that once the timing is right (something he assures me is soon) he’ll have a successful idea. Then he just needs to execute it well.
Because really, if he came up with two ideas that were both spot on I’m sure he can do it again. There were probably plenty of bad ideas along the way, but the ones they really started to go after and invest some time into he was confident about and with good reason. So it might take a little while and he may have to toss out a lot of ideas to come up with another winner, but that’s just the nature of brainstorming. Once he finds one he’s comfortable with I am sure the community will be more than ready for him.
So how do you come up with ideas–either for products and markets in your own business/industry or if you’re working towards starting your own micro-business? Are you coming up with enough ideas to feel free to dump the losers? Can you tell if an idea is good?