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Money, Business & Finance Ground >> How Do You Find/Create/Test A Business Idea?


9/15/10 3:15 PM
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TSMontana
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A lot of business books I've read seem to start from the point of "you have a great business idea...now what?". How do you even come up with a great business idea? Are there any good books/teachings/methods to systematically select/choose a market/niche?
10/14/10 3:10 AM
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LukeCranson
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i have the same problem
5/28/12 6:15 PM
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TSMontana
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ttt
5/30/12 5:36 PM
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Munk
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First it has to be an area where you have knowledge and expertise . What is something YOU really know that others don't? Then you need see where there is a need or want in that area and how you can meet that.

It doesn't always have to be something new, maybe you can do it better, faster, or cheaper or with a slight variation? How truly different was facebook from myspace or friendster initially? How different was TOMS from vans or any other shoe?
5/31/12 6:30 PM
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HERTSWENIP
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It's easier to fill a pre-existing demand, than to create a demand. Find something, a product or service that people need. The less competition the better. Use your imagination.
5/31/12 8:19 PM
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HERTSWENIP
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Get this book http://www.amazon.com/Make-Millions-Your-Ideas-Entrepreneurs/dp/0452273161

It's basically a collection of short stories and case studies about various businesses people successfully launched. All kinds of businesses and examples of finding niches and demands.

You DO need an imagination and sense of intuition I think though... if you dont have one, I dont think anything can help that.
5/31/12 8:47 PM
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TSMontana
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Edited: 05/31/12 8:49 PM
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I guess I'm just looking for a more scientific way of disqualifying ideas before going down rabbit holes, and maybe the right mindset/questions I should be asking myself to generate new ideas to potentially disqualify. :-)

Like you can have the greatest idea since sliced bread, but if you can't get it in front of enough people, you probably don't have a viable business (had this happen to me a few times). Would rather have an idea "fail" in a model than in the real-world (if possible).
6/1/12 10:44 PM
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turducken
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if you think you had the greatest idea since sliced bread and you couldn't get it in front of enough people, then you didnt have the greatest idea since sliced bread. that is especially true in the internet age where information spreads so quickly and easily.
6/1/12 11:00 PM
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TSMontana
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turducken - if you think you had the greatest idea since sliced bread and you couldn't get it in front of enough people, then you didnt have the greatest idea since sliced bread. that is especially true in the internet age where information spreads so quickly and easily.

I didn't even have the greatest thing since sliced bread. You get what I'm saying, though.
6/2/12 12:37 AM
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TSMontana
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Edited: 06/02/12 12:37 AM
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wrong thread
6/8/12 11:56 AM
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justin@gosscpa.com
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Justin Goss, CPA, MSA
1) Find something you love to do.

2) Hire a bunch of PhD's to teach you how to do it.

3) Cha-Ching!

Seriously... I'll give you two instances this worked.

A) Some dude loved bourbon, so he hired a bunch of PhD's to teach him how to run a bourbon company. Now he's loaded.

B) I saw this on TV... Some dude loved pot, so he hired a bunch of PhD's to teach him how to import and sell pot. He got loaded and then went to jail, but if you don't do anything illegal, you won't go to jail... hopefully.
6/10/12 1:27 PM
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justin@gosscpa.com
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Justin Goss, CPA, MSA
When I think I have a business idea, I talk to an older Jewish CPA I used to work for... He's seen more businesses start, succeed, and fail than anyone I know... He also has a super-computer brain and one heck of a business intuition. If you're serious about your idea, I can put you in contact with my guy and he'll probably tell you about a client that failed in the business and a client that succeeded in the business you're interested in. But you have to be serious, professional, and suitable to be billed... If you fit those criteria, please shoot me an email.

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