Tweet

Your number one investment

Written by: richard mcgregor

Article Overview: Every one has ideas, inventions, and dreams but only a few people ever make any money from their thoughts. Although people generate millions of them each year, most of these ideas do not make money. Why? Because most people are not willing to put their ideas into practice nor take the time to follow-through with the planning, design and implementation necessary for success and eventually money. Your ideas are your number one investment; a never-ending reservoir of creative wealth and the building blocks of any business.REMEMBER: YOUR THOUGHTS ARE YOUR WEALTH.

Your number one investment

Every one has ideas, inventions, and dreams but only a few people ever make any money from their thoughts. Although people generate millions of them each year, most of these ideas do not make money. Why? Because most people are not willing to put their ideas into practice nor take the time to follow-through with the planning, design and implementation necessary for success and eventually money. Your ideas are your number one investment; a never-ending reservoir of creative wealth and the building blocks of any business. Therefore as a creative being, it's important to protect your number one investment; your ideas. REMEMBER: YOUR THOUGHTS ARE YOUR WEALTH, so protect your number one investment as you change your thoughts and effort to money.

So how do you protect your ideas? Your ideas are part of your intellectual property. Intellectual property is built and accumulated by every successful business whether it's operating in the new economy or a traditional business. Michael A. Lechter, RICH DAD'S advisor opined," Intellectual property covers a broad gamut of intangible assets". Such assets also include patents, copyrights, goodwill and trademarks.

Can small business realistically compete in the marketplace with big business? ABSOLTUELY. By having a unique product or specialized knowledge or expertise, small business within their niche, can convert ideas and effort into money. In other words, through its intellectual property small business can profit.

The following are step to changing your number one investment to money:

Record every idea you have. Generate a list of those you have had in the past or ideas you currently have about new products, inventions or ways of doing things better.

Look for sources to generate additional ideas-hobbies, in the workplace, at home or church, or when entertaining or being entertained. Exercise your imagination. Don't discount any idea, no matter how silly or impractical it seems. Add these new ideas to the list you have made.

Evaluate each idea on the list by answering the question, "Does this idea or potential product/service solve a problem?" People assign a great deal of value to ideas that provide a solution to a problem, and they are willing to pay handsomely for these solutions.

Make your ideas work by turning them into practical products or services.

Convince others of your idea's worth. Read trade or industry specific journals to find companies who may be looking for a product such as yours.

Prepare in advance for your presentation. Plan what you will say and the information you will present.

Be persistent. Even if you are turned down many times, don't get discouraged by rejection. Every refusal gets you one step closer to success; so learn from each one.

Related Articles
  Double Your Money Einstein!
  5.1 Investment is vital for an economy to diversify: Economic Report on Africa 2007
  Buying an Investment Franchise Business Opportunity
  How to Say Your Price Without Choking
  How Many Angels is the Right Number

Article Tags: building blocks, creative wealth, dreams, implementation, inventions, money
Referred by: http://jaykubassek.com



Related Forum Posts
Re: Would you buy a house for a dollar? - Investors with their long term planing always be looking forward for such cheap investment projects. This is not a bad idea I think. One can take initiative on it and can earn handsome amount by doing small investment.
Risking friendship for business - Hi Kevin It depends on the personality of your friend and whether the relationship would remain the same no matter how much money you make or lose. If you feel the relationship would take a beating if you lost a lot of money or your friend is hoping for a doubling of his investment in 1 year, maybe it isn't realistic to consider the investment for your new business. Money can always be replaced but a friendship can't always be repaired if a major event comes between 2 people. If the trust or bond between two people cannot be broken on financial matters and the 2 parties can simply "write it off" as a bad experience should the business not work, you could seriously consider the investment offer.
Re: Getting *back* to the next step - For a lot of people (like those working directly in the investment industry), getting back on track may even require career changes to industries that are less impacted by the "bad times". Do you think now would be a good time to go back to school as a long term investment?
Re: Internet Fax Services - any suggestions? - Hi people, I am making the fax number ie. send a fax to a local number but the local fax machine you sent it to thinks it came from Europe or something i.e. a European number is displayed on the fax at the recipients end. How do you send a fax domestically and make it look like it came from an overseas fax machine number? Thanks a lot for you help. Have a good day.
Angel Investors - From Wikipedia, the free encyclopedia the definition is: An angel investor or angel (known as a business angel in Europe), is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. A small but increasing number of angel investors are organizing themselves into angel networks or angel groups to share research and pool their investment capital. With that being said, Angel investors can come from a number of resources. You can try ACA (Angel Capital Association) in US / CA. Family & friends- Well, for me personally, I never do that type of business with family or friends for fear of a damaged relationship. I do not borrow from them, nor allow them to borrow from me. However, in my business I see it all the time. One place you can also try if not self employed, is with your current employer or even co-workers (of course having a good relationship with them is key). Also, get the information out to everyone and anyone about how you are seeking an angel investor, because you never know...just look at Evan's experience!


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Ten Reasons to take Notes during Sales Meetings

10 Golden rules to survive the Global Crisis

Why We MUST Reinvent The Wheel

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.