Most successful businesses have one thing in common: They all started with one idea.
Granted, the ideas that launched the most successful corporations must have been brilliant – some would say a shot in a million. Nevertheless, you can be sure that the initial spark likely originated with one person. Call it a flash of utter clarity, a stroke of genius, or whatever – the fact remains that we all have the ability to use our brains, creativity, and originality to conceive the next “big idea.”
While it might seem that all the great ideas are taken, you still hear stories of individuals starting companies from nothing and turning them into overnight successes. It’s unlikely that the creators of the new Internet giants were worried that all the great ideas were taken. The founders of web powerhouses such as Face Book, My Space, Dell, and Google are great examples of the power of one single idea.
Realistically, it’s unlikely that you’ll ever experience that level of success; however, you still possess the ability to truly change your life with nothing more than an original idea and a well thought out plan.
As a potential business owner, it’s very likely that you’ve got dozens of business ideas running through your head at this very moment. Your ability to act upon the truly great plans could mean the difference between simply getting by and experiencing true success.
When it comes to small business ideas, there are three categories in which you can operate:
1. You act upon a completely original business idea. Unless you enjoy navigating uncharted territory and assuming a fair amount of risk, this may not be for you. The upside is that many of the world’s largest companies were conceived by entrepreneurs that risked everything on an unproven idea. This is where truly innovative ideas originate. Coincidently, this is also where the greatest rewards are, if successful. The downside is that only a small percentage ever make it in this category. It all comes down to risk versus reward.
2. You improve upon an existing idea. Taking a great business idea and improving upon it can also be your ticket to prosperity. Many successful people fall into this category after starting a business and putting their own personal spin on things. Your own personal touch can be anything from your management style, to new innovations/methods in the industry, to your exceptional customer skills. Here, you’ve got the best of both worlds: you have something that’s already proven itself, and your personal innovation to improve upon those ideas.
3. You pick a proven business idea and follow it to the letter. There’s nothing wrong with starting a business in a proven industry and using tried and true methods to produce positive results. Franchising is a good example of this, although you could just as easily start a business from scratch and keep that profit for yourself. This approach is probably the least risky – and the least profitable. While you can make a comfortable living following these tried-and-true methods, it’s unlikely that you’ll ever experience the kind of success that is possible with a little creative thought.
So, what’s your next great business idea?