I was 21 years old and dressed in a cute baby blue “business outfit.” I hauled my best friend along after scheduling some meetings in New York City. I was to be the next Victoria’s Secret – but better (in my head of course). I was naïve, young, and inexperienced. But my dumb *ss and amateurish self allowed me to make the leap to schedule meetings with big business lingerie wholesalers. Little did they know that between my friend and I, there was only $800 to invest in this supposed grand scheme. And yes, we nearly spent it all on that one day.
Ever dream of a grand idea that will explode so big you won’t remember what it was like to work a 9 to 5? I sure have….many times over and still do – at 40.
If you’re a serial entrepreneur (in your head), then you are well versed in dreaming about the next big thing – the business idea for the future that will pay the bills and then some. But what kind of business idea can you launch?
Latest Business Ideas: What To Do With Them
I’ve done it, well, mostly all and I’ve collected a fair share of wisdom (mainly from reading of course). And this is what I’ve learned:
1. An execution is far better than an idea. Ideas are for dreamers. If that is ALL, you want to be – go on and keep dreaming. It might help you accumulate more endorphins (you know, those feel good drug-like hormones). Which, in the grand scheme of things, isn’t so bad for worriers like me. If only it paid the bills.
2. A goal is nothing but an extra to do on your long list. Aren’t you tired of having to scratch off one thing and add 3? Goals ain’t crap unless you have direction. If you don’t know how to get there, then you better ask somebody and learn – unless you like hoarding goals. If that’s the case, don’t even bother and just keep it simple – it makes life easier… I mean, if that’s what you’re into. If not, quickly learn to transfer your goal onto the big stage.
3. Thinking is not a thing in business but doing is. Who grows up saying “I want to be a procrastinator when I grow up.” Yet, here we are. Procrastination is the death of an idea. Kill the over-thinking bug. It’s in self-defense (really).
4. Be aggressive…B-E A-G-G-R-E-S-I-V-E. Somebody’s gotta do it and it should be you. Take specific and speedy action – pronto. You can think later. But don’t thank me for it, thank Napoleon Hill, who in the 1930’s said, “Most ideas are stillborn and need the breath of life injected into them through definite plans of immediate action. The time to nurse an idea is at the time of its birth.”
5. Mentally prep for factors that can affect your business idea – but don’t let them lead the way. Understand the importance of trust from customers and in yourself, quick decisiveness, competition, risk tolerance, optimism and patience. They are just part of the game – if you’re ready to play to win. Otherwise, go and stay home. And while you’re there, hand off that great idea to someone who could make good use of it. Not to sound cruel but there it is, in case you needed a friendly nudge:)
Business Idea + Lessons
Well, after that self-deprecating (just kidding;) self-assessment, what is your role in the factory of business ideas?
Personally, I need to remind myself, very regularly, that I should make a no-holds-barred examination to see where I am at in terms of my strengths and not so strong areas. Business ideas, in theory, are superfluous but finding your ideal match – not so.
Sometimes, you have to be keen about your motivation behind your idea. For some, that may be independence. For others it may be financial freedom or innovation.
Almost 20 years ago, I took a leap with no calculated risk that deflated my savings and left me with a closet full of lingerie. Some pieces I still have today, and when I stumble on them, it makes me chuckle at the experience.
Yes, it was a dumb idea because I lost all of my money. But if I could pay to get that fearlessness back, I’d empty out my account all over again. And rest assure, if that were the case, I’d own Victoria’s Secret right now. Told you I still dream big;)
What’s in your future in the world of business ideas?