Questions on Business Ideas and my Introduction.

PeterBPeterB Posts: 6subscriber
edited June 2008 in Selecting a Business
I thought about putting this in the New Member section but I thought my question would get more exposure here. I`ll start with my intro and then get into my problem. So if you dont want to read my intro start half way down with "Here is my problem:"
 
Thanks!
 
I am a 24 yr old aspiring entrepreneur with so many ideas that it sometimes it is overwhelming. The problem is I either don`t know which ones I should follow and which ones I should stay away from. Since I`ve graduated from college I have been actually in the "work force" working for somone else for about 3-4 yrs. Before going to school I always thought this was the way to go...go to school get a good job...thats it. But since I was a young teeneager I`ve always had something telling me that I should be doing something of my own.
 
So sometime last year when a family member gave me a book that looked interesting, I decided to read it. The book completely changed my way of thinkling and it really hit me that I need to start something. This past year I have been really focusing on transitioning into becoming an entrepreneur. Thinking of ways that I can turn things I love to do into a great succesful and profitable business. I ahve had ideas, but so far things have not been working out so good.
 
Here is my problem:
I get an idea to do something.
The idea comes from a flash of inspiration.
It has to do with something I love doing.
I think "That is great!".
I think about it more....and more.
I weigh the pros and cons in my head for days.
Do research.
Think about it some more, then I decide I`m going for it.
I take steps towards brining it to life.
Developing plans, building a site, getting a 1-800, planning, begin building the actual product..etc. I actually beging the process of "running the business". Then I lose interest in the idea. I find out it is not as glamorous as I thought. I can only run the business of certain days. I can only make this much money on this day. I dont enjoy doing it as much as I thought...etc.
 
This has happened about 3 times within the past year. The GOOD news is every time I go through this I get a step further in the process and learn something new each time that will allow me to go further in the next idea. In my most recent idea I was starting a service based business. I thought myself how to build a website, so I built a great website for the business. I got a 1-800#...everything. Then I started performing the service and I found out I didnt like it at all.
 
I work a fulltime job doing what I went ot school for and work on these in my off time from work. Does this sound completely crazy here or is this just part of the learning process? I`m not giving up on these things. I`m just losing interest. Anyone have anything they would like to say? Sorry to ramble...
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Comments

  • JTR65JTR65 Posts: 4subscriber
    Sounds like you haven`t figured out your passion yet.  What do you love doing, that you wouldn`t mind doing all day long even if you weren`t getting paid for it?  What do you REALLY want out of your business?  There`s a company called Innoventum.com that helps businesses get started.  I read in one of their articles:  "Some people open their own business to replace their current job, and to have the flexibility of working at home.  Other people go into business for themselves to create a company that operates with or without their presence.  Other people go into business for themselves because they are bored, or want to pursue their true passion.  Before you go into business for yourself, you should really think about what you want to accomplish and why you want to go into business for yourself anyway.  The reason this is helpful is because it helps you design a business that suits your personal goals."
  • PeterBPeterB Posts: 6subscriber
    Thanks JTR65.
    I have a passion for cars and the internet. I love selling things online. All of my previous ideas had something to do with cars but not in a way that I really wanted them to be. Example: My last business venture was an auto detailing business. I soon realized that I didn`t want to run this type of a business for too many reasons that I wont get into now. I learned this the 1st day.
     
    If I could only figure out a way to merge both cars and the internet together in a unique way that would result in a profitable business that could run without me actually slaving away on the computer 100hrs a week.
     
    I want to go into business for my self because I want to pursue my passion while making my own way in life, add value to the world and do the things I want to do.
  • PeterBPeterB Posts: 6subscriber
    Actually, this is a pretty familiar story. Someone`s looking for something, they get an inspiration, they work on it, then lose interest. The question becomes why are they losing interest? It`s not a problem of having an inspiration; it`s rather a problem of the "quality" of that inspiration.
    In life, we become stressed, uncomfortable, and so we act in such a way that we "return to zero," or get back to being comfortable. Comfort isn`t the same as apathy. Happiness and joy, those also aren`t the same as being comfortable or content.
    You sound like you have a problem-solving type of mind, where you enjoy the challenge and "game" of finding a problem, then working out the solutions. A key aspect is to see if it works. That`d be the part where you put into place the real parts in the real world that "should" solve the problem. But only to see if they`ll work *in principle.*
    JTR is right that when you find a passion it`s different from only solving a problem. A passion isn`t keyed to your "interest" level, so to speak. Instead, you`re more like "driven" to continue. So is there anything so far in your life that you find you just can`t get away from---something you`ve done most of your life, still do, and in particular, that you find yourself doing when you`re bored, upset, depressed, or worried?
    On a side note, all our emotions are biochemical in their implementation. They begin (usually) as mental processes, but to actuall feel them, we have to have various hormones and chemicals working in our system. That`s NOT to say that ALL emotions are only chemicals! It`s that we connect mental events with physical representation through biochemistry.
    "Satisfaction," like contentment and so on, require certain types and balances of hormones. In some cases, if that biochemistry isn`t correctly working, that too can lead to a "never-satisfied" type of lifestyle. File the info away in your mind, but don`t assume it`s an issue until you`re maybe approaching 30. If by then you still can`t find something to engage you for years at a time, that would be where you *might* begin to explore some of the physical side. Not now, though.

    CraigL. I just noticed your post. Thank you. This is all helpful info. I see what you are saying about the pursuit of solving the problem. I guess that is the part I enjoy the most...figuring out how to set the business up then losing interest.
    PeterB5/19/2008 3:25 PM
  • PeterBPeterB Posts: 6subscriber
    No! I`m saying that the most likely problem is that you`re trying to solve problems and having fun, but that`s not the same as figuring out how to implement your passion. The LEAST likely problem is a biochemical imbalance preventing you from feeling satisfied. However; if by around 30-35 you look back on your life and see you`ve never felt satisfied, that`s another avenue to explore.
    Right now your "problem" isn`t how to set up a business. You can always work for yourself at any age---we`re getting started in our mid-50s. Instead, your problem is how to join your passion for cars, with some sort of long-term, enjoyable process.
    It *may* turn out you use the Internet for this solution. But it may just as well turn out that the Internet isn`t the best way to go---or it plays only a support role in the actual business. A "business" can be a career, occupation, or an art form.
    You`re right to start all this now, because 24 is an excellent age in terms of energy. You`ll be working a lot, and it`s better if you aren`t getting tired easily. However; you do NOT have to actually put a business together right away.
    Business planning, development, and process organization are key to a well-designed business. If you already know you want something to do with cars, then forget about "the Internet" part. Begin by asking yourself what you`d do if you have 3 wishes (from a magic lantern), that would involved cars. See?

    Thanks. I re-read your post and understood what you were saying at the end about approaching 30. My mistake!
     
    If I had 3 wished from magic wand...You`ve got me thinking now. I can come up with ideas on end! Also, I think I was holding back in the past and not really going towards trying something I really wanted to do. I always went for the mediocre idea that "kind of" satisfied me. I guess I`ve been afraid to try what I really want because I`m afraid it wont work out.
     
    Thanks for your comments guys. I thought I was going to get grilled for posting this topic. This was really bothering me and made me feel like a quitter.
  • sinner3000sinner3000 Posts: 0subscriber
    Sounds to me like you aught to be in the business of starting web based businesses.  Getting them up and running, and then selling them through a website to people looking to buy existing businesses.  Its people making a living at that you know.  Look into it.
  • PeterBPeterB Posts: 6subscriber
    Sounds to me like you aught to be in the business of starting web based businesses.  Getting them up and running, and then selling them through a website to people looking to buy existing businesses.  Its people making a living at that you know.  Look into it.

    Hmm, interesting. I`ll look into that as well.
     
    Do you know of any specific sources that I could get info on this? Is there a certain name for doing this type of thing? I just did a few quick searches and if there is a certain keyword that would help me find what your talking about...
  • blindvoiceblindvoice Posts: 0subscriber
    PeterB,
     
    When I read your first post, I seriously was trying to figure out if my brother had somehow figured out that I looked at this board, made up a post, and waited for advice that he could convey to me.  I too am what my wife calls a "dreamer".  My problem is my passion.  My passion is to work for myself and run my small business.  I don`t even really care what it is.  In the past 2 years, I have had a ton of different ideas from starting a used car lot, to bar or restaurant owner, to computer repair.  The list goes on and on. 
     
    So keep it up PeterB!  I think you are on the right track exploring your ideas.
  • sinner3000sinner3000 Posts: 0subscriber

    Sounds to me like you aught to be in the business of starting web based businesses.  Getting them up and running, and then selling them through a website to people looking to buy existing businesses.  Its people making a living at that you know.  Look into it.
    Hmm, interesting. I`ll look into that as well.  Do you know of any specific sources that I could get info on this? Is there a certain name for doing this type of thing? I just did a few quick searches and if there is a certain keyword that would help me find what your talking about...

    Im not exactly sure what its called.  I think its along the lines of BUSINESS BROKER  hope that helps
  • PeterBPeterB Posts: 6subscriber
    Technically, yes: A passion to be a business owner is indeed a legitimate passion. The reason it leads to a psychological flaw in reasoning is that you`re left at the end of the day with the same original question: What business? Doing what?

    This is EXACTLY what I find myself asking myself ALL the time.
  • JTR65JTR65 Posts: 4subscriber
    CraigL, how`d you get so wise?  You are incredibly dialed in and intuitive to the core.  Thank you for your wisdom.  It is consistently helpful and your way of expressing your advice is a treasure here at SuN.
  • ayjayayjay Posts: 7subscriber
    Peter,
    I am right there with you. I started to reply to your thread, but I started a new one instead. (subject: How I (Just Now!) Decided)


    I am a little older than you, but my experiences have been very similar.  I`ve been working in industry for 8 years.  After a few years of writing biz plans for different ideas and never following through, and having owned a franchise for 2.5 years (sold in `05), I have a clear feeling that I`ve finally hit upon THE idea I will pursue. I used my own as-I-went technique for figuring this out, and it`s definitely different than how I decided I would "run" with my other ideas.
     
    Take a look at my thread. . .maybe my technique can work for you too.
     
    Alison
  • 05mustang05mustang Posts: 2subscriber
    Count me in the "dreamer" category as well. I have at least 2 business ideas I launch every year but I`ve yet to complete one.  I usually either find that the business is not scalable or I come across another even more interesting idea.
     
    Honest Query - Is this just the creative process or is there such a thing as an ADD entrepreneur? 
     
    I look at my friends who have own succesful businesses and companies and they each show an incredible focus and commitment to their objectives and rarely stray from their plan.  Quite frankly and I don`t mean this as an insult, but they never spend time on entrepreneurial forums or reading entrepreneurial mags.  They`re too busy executing on their plan and running a business.
     
    Did they just hit on something that stirs their passion or is there something qualitatively different about these folks?
  • 05mustang05mustang Posts: 2subscriber
    Sage advice and great perspective as always Craig.
     
    I really like this statement:
     
    "Feelings last about three days, but values are there for the duration---regardless of how you feel about them."
     
    Makes me realize that it`s not enough to build a business around your "passions" but that you have to really understand your core values to make sure your business venture aligns and promotes those.  Perhaps that`s the key to focus and commitment.
  • mazzmazz Posts: 5subscriber
    Peter B what was the book you read?
  • PeterBPeterB Posts: 6subscriber
    Peter B what was the book you read?

    The book that I read was The Secret. I know the book and the movie has blown up and become quite famous in the past few yrs but I had never heard of the book or dvd before or while I was reading it. It was all new information to me. That book led me to read others and within a few months I had a whole new way of thinking and my values on life completely changed. Some well known books that I`ve read since then:
    The Science of Getting Rich
    Think and Grow Rich
    One Minute Millionaire
    The Master Key System
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