You have an idea – everyone has an idea – but so what? Just because you have what you consider a bright, innovative idea, doesn’t make it automatically into a ready-made product, service or any other added value to what already exists. To make sure your idea is worthy, firstly, bounce it off of as many different people – anyone who might give you a valuable input or opinion whether from within or without a relevant domain or field for you – and open your mind to critique (adding new value to your idea) as much as possible.
Once you start considering (a hitherto unconsidered) factors stemming from breaking initial presuppositions, stereotypes, narcissistic flavors and just plain and simple information about market, competition, trends that somehow slipped through your fingers, you will start clearly seeing, visualizing what you are after.
Next, execution.
But, wait a minute. Even in execution there are ways and ways. The latter is what you must consider if you financial situation is still (or will shortly become) somewhat shaky.
In this era of mushrooming Internet technologies – especially web 2.0-related/devised – doing business online or putting an online business presence is becoming easier by day. Traditional means of creating, building and sustaining a business are either becoming obsolete or reinventing themselves. There luminaries like Umair Haque who has awesomely created Awesomeness Manifesto and much more.
And of course, with the current economic situation, we are all looking how to do it a 21st-century-style-innovative and to save money while doing it.
Let’s take an illustrative example. In 2004, Heather Allard “started 2 Virtues Inc. to bring my inventions, Swaddleaze and Blankeaze to market.”
She spent in excess of $54K (even without product manufacturing).
If I started 2 Virtues now in 2009, I’d do things so differently. I could start a business for under $1000 by doing these 5 things:
- Skip the Website
- Hire a Freelancer
- DIY
- Become a Social Butterfly
- Free Stuff
If you read carefully the entire article (containing many nice tips, free tools and additional links) you will see how Heather – if she started in 2009 with all her current knowledge and experience – would have been able to economize on practically every aspect of her business initiative, thanks mostly to the Internet and free online tools, methodologies and techniques.
Instead of $54K, you can spend <$1K. What do you think about that?