Business Ideas are more than a fleeting inspiration
Working out what is a good business idea and what is not can be fun.
Every one has a business idea. This may be the inventor in us or perhaps we all dream of having our independence and running our own business. There are many ways to come up with business ideas. More importantly, however is how you test and validate if you business ideas will be successful.
Success is a subjective term. When I talk about success of a business idea what I really mean is ‘how likely will it be a commercial success.’ There are some fundamental questions to ask your self.
- Who would buy your product or service
- How many people (businesses have that need)
- Where are these people
- How do you find and access these potential customers
- How much are they prepared to pay
- What will it cost to bring you business idea to market.
These are just some of the questions I tackle in this series of blog posts. I am also regularly writing more. You may want to subscribe to my Monday Motivator Newsletter so that you can get a weekly dose of motivation.
Catch up on the Business Idea blog posts
How clutter affects people
“Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” Will Rogers Self storage is a booming business. This billion-dollar industry is growing at 1.5% annually according to IBIS world. That's s a lot of...
The Future of Work for business owners
There is a massive shifts in the way we work - and what the future of work will look like. There are shifts in key trends for business owners that they highlighted, fascinating. A study acknowledged that the nature of work has changed and as a result, so has our...
Start Up challenges… reality check up!
Start Up Challenges Whilst I share much of what I learned from my own business experiences, the reality is I learn as much if not more from other founders and business owners that I meet. The energy of a founder (especially a startup founder) is infectious as well as...
What is going on for startups?
StartUp Advice Startup Muster released its third annual survey of Australian startups, recently. It has much to say about the thoughts, aspirations and achievements of the community, but also outlines what is next. Any business is subject to risk, and the startups...
7 traits of a natural innovator
Innovation lessons for business owners People talk about innovation lessons all the time and yet what does it really take to be an innovator? This is not just about what you want to do, nor about why you want to. It is important to understand if you as a person, are a...
So you think you need an investor?
As we are on the cusp of shooting Shark Tank Series 3, I thought it was time to reflect on an important topic: 'sometimes an investment deal, in reality, is not the best thing for a business'. It has been reported that there is marked gender differences in the ability...
Start Up businesses #ReadyToSoar: April
One of the wonderful things about being a ‘Shark’ on Network TEN’s Shark Tank (catch us on Sunday's at 9:00pm on TEN) is that I have many people present their business ideas to me - not always pitching for investment, often they are seeking advice or direction. The...
It is your dream, no two entrepreneurs are the same
This is an excerpt from my new, soon to be released, book Ready to Soar. All of us dream, have hopes and aspirations – some bigger than others. Often we are inspired by what others are doing. In Ready to Soar I explore what it takes to pursue your dream. Discovering...