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Money, Business & Finance Ground >> Generating Business Ideas


10/7/09 11:03 PM
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LukeCranson
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How do some of you come up with your business ideas? Specifically, how do you generate these ideas?
10/10/09 1:35 AM
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LukeCranson
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Is there a technique you use? A ritual to help you come up with ideas? Where do you draw your inspiration from?
10/13/09 1:17 AM
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LukeCranson
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hey guys, I want to find ways of generating my own business ideas ... can't stand working where I am. Not asking for your ideas, just how do you generate your own ideas
10/13/09 5:07 AM
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Momentum
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Am I too assume you want to start your own business which is why you are looking to generate your own business idea? Keep in mind, that a lot of business fail in the initial innovation stage. Remember most successful innovation begins by improving on some aspect of innovation that already exists. Going from an idea to a successful long-term business model is a rare success.

I use a simple system to understand opportunity - proven, prepared and positioned. Find a company or people that are proven. Experience is the best teachers to pay attention to it. Make sure they are prepared for what is coming (financially, systems, key relationships, etc.). Finally, look at the product or service they are in to get a picture of how it will do in the future.

Finally, remember that the right opportunity is about aligning yourself with the right business culture. Cultures are like families, institutions, etc. They are structure of people who meet many needs of those involved with them (making money, personal growth, contribution, significance, etc.). They are also aligned with your beliefs, philosophies, attitudes and values.

In the end, remember that an idea is such a small part of a successful long-term business. If that is your goal, pay attention to what I wrote above. After 20+ years in business as a practitioner, consultant and speaker, this is an area I understand and where I have made my fortune. Best of luck with your decision and future.
10/13/09 9:34 PM
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LukeCranson
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Thanks Gordon, as always your posts are thought provoking and you have given me some food for thought with respect to looking at already existing businesses and seeing where I can improve an already existing product or service.

I remember in previous posts about you stressing the importance of relationships as a cornerstone for success. Guess I will have to put that advice to good use
10/14/09 6:19 AM
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Momentum
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When it comes to opportunity or people, the most important part of the process is the selection process. If you get that wrong, the journey is not that much fun and results are often disappointing. One of my core beliefs in business (and life) is that long-term success = long-term relationships. For that to happen, you have to be committed to the process and able to earn your way. The other person has to be able and willing to so the same. Afte4 23+ years in business, I can tell you that relationships play a MAJOR role in how your life will play out.

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