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Where ideas are born
| Guest post by: Roger Pierce |
Article Overview: Is there a secret place where great business ideas hatch? Want to launch your own business but stuck for inspiration? Read this article to find out where most entrepreneurs find their "A-ha!" moment.
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Free Download - Protecting your startup idea By Roger Pierce |
Where ideas are born
Finding your billion-dollar business idea is easy if you know where to
look. Here are my top five places to begin your search.
1. Virgin
marketplace. “Gee, they
don’t have poutine here like we do back home.” Congratulations! You’ve found a
virgin marketplace. It can be a geographic location (city, neighbourhood) or a
consumer segment (seniors, Mom Entrepreneurs) that doesn’t enjoy access to a
particular product or service. Trust me – you could make a fortune selling
poutine in shopping malls in Florida.
2. Rob
and duplicate. The richest
people in the world simply improved on an existing business practice. Pizza
comes to mind – no one owns the patent on pizza, but there are thousands of
operators who make and sell pizza in their own unique way. Look around at
successful businesses and ask yourself, “How can I do it better?”
3. New
technology. The latest
electronic gadgets or Internet applications spawn hundreds of thousands of new
businesses. Because I own an iPhone, I also own a Bluetooth compatible car
speakerphone ‘mirror’, and a little sensor from Nike that I insert into my
running shoe so my iPhone can tell me how far I’ve jogged.
4. Social
shifts. My wife will actually
yell at me if I put as much as a piece of paper into the garbage can instead of
the recycling bin. I must also scrape every uneaten food morsel into the specialized
plastic-but-somehow-compostable wet waste bag lining the little waste container
now permanently located on our kitchen countertop. There’s money to be made
every time people change behaviours.
5. Baby
Boomers. Boomers are the
kids of the soldiers returning home from the Second World War, born from 1947
to 1966. There are approximately 10 Million of them in Canada. Study up on
Boomers to identify what they will buy next (hint: it involves condos, travel, financial
advisors and anti-aging serums).
Your brilliant business idea could strike anytime, so keep your eyes and
ears open.
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Article Tags: baby boomers, canada study, consumer segment, dollar business, food morsel, iphone, kitchen countertop, latest electronic gadgets, malls in florida, recycling bin, richest people in the world, rsquo, second world war, service trust, shopping malls in florida, social shifts, soldiers returning home, uneaten food, waste container, wet waste
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About the Author: Roger Pierce RSS for Roger's articles - Visit Roger's website Roger Pierce is a Startup Expert with 11 small businesses to his credit. He's coached and trained tens of thousands of entrepreneurs across Canada and around the world. President of NewcomerStartup, and co-founder and former President of BizLaunch, Roger has worked with dozens of major corporations to advance their small business marketing strategies. An avid writer and blogger on small business topics, Roger is the Startup Columnist for the Toronto Sun, 24Hrs and co-author of the book, Thriving Solo: How to Grow a Successful Business. He's also the voice of Scotiabank's site for small business owners, called Get Growing for Business. Entrepreneurs visiting the site will enjoy how-to articles, interactive tools, videos and helpful resources. What does he love most about being an entrepreneur? "I get excited about the work I'm doing. When I wake up in the morning I feel an adrenaline rush as I anticipate the things I'll get to do today." Roger and his wife, Tina, and their children Kaitlyn and Connor, live in downtown Toronto. Click here to visit Roger's website   Entrepreneurs must be selfaware Where ideas are born Never too young to be an entrepreneur Inspiring people through your small business Protecting your startup idea |
Related Forum Posts
Re: Does birth order influence the desire to start a business?
- I am the eldest in a polygamous family. In Africa where I come from, we are allowed to marry many wives. My mother is the first wife among six others. I am the first born and I am into business and all my other 22 siblings are business people too apart from the second born who is in the Police Force.
Re: Does birth order influence the desire to start a business?
- [quote="ideasuniversity":2rddqi21]I am the eldest in a polygamous family. In Africa where I come from, we are allowed to marry many wives. My mother is the first wife among six others. I am the first born and I am into business and all my other 22 siblings are business people too apart from the second born who is in the Police Force.[/quote:2rddqi21]
Of your siblings - how many are girls and how many boys? Are girls allowed to be businesspeople, or must they stay at home?
Re: Does birth order influence the desire to start a business?
- [quote="OmnivoreInk":3odx68dy][quote="ideasuniversity":3odx68dy]I am the eldest in a polygamous family. In Africa where I come from, we are allowed to marry many wives. My mother is the first wife among six others. I am the first born and I am into business and all my other 22 siblings are business people too apart from the second born who is in the Police Force.[/quote:3odx68dy]
Of your siblings - how many are girls and how many boys? Are girls allowed to be businesspeople, or must they stay at home?[/quote:3odx68dy]
We have 8 girls and all are business people.
Re: How do you create a million dollar idea?
- It is really the culmination of extracting the best knowledge from the market, or from experts in their field and some creativity. Mix them together and you can produce entrepreneurial ideas. Sometimes these ideas are truly million dollar ideas.
Re: This is your world. Shape it or someone else will.
- Hi Evan,
Great sentiments and it should motivate all of us to remember that we do today can affect our future lives and those of generations yet to be born,
regards,
Mal.
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