Coffee with Glen, CEO of Brazzlebox
I saw a great commercial for GoDaddy where 6 different people from around the world were all discussing that they had a great idea for a business and how great it would be but it showed them just sitting around tables or in bed talking about it. Then they showed a 7th person who had the same idea but was first to get it up on the internet and showed obvious success sitting in her private jet and sipping champagne.
I have met many people in my life who said they have great ideas and then shared them and to the best of my knowledge have not pursued their great idea. Why? The risk? Maybe they don’t know how to get started? Its is always a good idea to take your ideas to people with experience in starting businesses or other entrepreneurs and have them give their opinion if your idea is a viable business, product or service. Be cautious of sharing your ideas with too many people or the wrong type of people. It may be hard to determine who is the ‘wrong’ person but I was told by many people one of my businesses was going to be an absolute failure (nice friends) and it ended up making millions. Get your opinions from successful people. My opinion is don’t ask anyone from banks or financial institutions as they have seen so much small business failure they rarely will say anything is a good idea, unless they need a few small business loan applications or new bank accounts to fill their quota, then it is a great idea! Avoid people who are not risk-takers, they may not understand or lack the vision to see the potential.
Here is an idea I kind of missed out on:
Back in 1997 I was a claim adjuster for Workers’ Compensation Claims at Liberty Mutual Insurance Company. There were many businesses that provided a service for the company and I toyed with the idea for starting an Independent Medial Exam company that provides a medial opinion for the insurance carrier. At the time there were not many of these companies and I knew the industry could easily be improved upon. I did a ton of research, got a few doctors on board, had a few co-employees that wanted in, then right when things looked promising to actually start building the model everyone bailed. I did not have the skill set to do this on my own yet which was too bad because many companies in that field that started up the next 5 years ended up doing very well. I had the vision, I had the buy in but I failed to act and missed out.
Trust your gut. What I provided in the above paragraphs were my experiences and my opinions. If you know you are on to something just know that most likely someone else is thinking along the same lines and being first to market means everything. If you have a thought to take an existing business idea and improve upon it then do it. So what are you waiting for? Someone else to do it and then you will be all sad? The topic of the blog is ACT NOW so do your research, ask around and make it happen!
Have a dynamic day!