Idea Generator

Texson5Texson5 Posts: 1subscriber
edited April 2009 in Business Planning
Hi all.
I have always had idea`s for products and for some reason get stuck at the
idea part.
My only set back with moving forward is:
Money
So what would you do?
How would you keep from letting money be the only thing that `seems` to
hold you back?
What I have thought about is finding a business partner that has the capital fund it
and share in the profits? What do you all think?
I am looking forward to your suggestions and comments.
Respectfully,
Jess

Comments

  • Texson5Texson5 Posts: 1subscriber
    thank you Heather, great advice.
    Sometimes we just need o be reminded of the basics.
    Jess
  • Texson5Texson5 Posts: 1subscriber
    Since you answered that question how about answering another?
    Here it is.
    How do you stay on track?
    I have this problem where I have a million, okay, billion thoughts
    going through my head and for me staying origanized is about as
    easy as sword swallowing. lol
    Thanks for the help.
    Jess
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Since you answered that question how about answering another?
    Here it is.
    How do you stay on track?
    I have this problem where I have a million, okay, billion thoughts
    going through my head and for me staying organized is about as
    easy as sword swallowing. lol
    Thanks for the help.
    Jess

     
    Jess,
    You are not alone. Most entrepreneurs have some form of this challenge. Many find that a "coach" or mentor can be a big help in this area. This can also be part of the process of moving away from the "Do everything - myself" mind set.
     
    While the initial coaching we do with clients usually is focused on acquiring capital as part of our capital builder program - many continue on after acquiring the capital because of the benefits they receive from our regular interaction.
     
    I hope this helps.
    robertj4/17/2009 11:35 AM
  • Texson5Texson5 Posts: 1subscriber
    Thank you Heather.
    I copied and pasted what you have shared with me on to a word doc to print off.
    This will give me a starting point/road map.
    Jess
  • Texson5Texson5 Posts: 1subscriber

    Since you answered that question how about answering another?
    Here it is.
    How do you stay on track?
    I have this problem where I have a million, okay, billion thoughts
    going through my head and for me staying organized is about as
    easy as sword swallowing. lol
    Thanks for the help.
    Jess
     Jess,You are not alone. Most entrepreneurs have some form of this challenge. Many find that a "coach" or mentor can be a big help in this area. This can also be part of the process of moving away from the "Do everything - myself" mind set. While the initial coaching we do with clients usually is focused on acquiring capital as part of our capital builder program - many continue on after acquiring the capital because of the benefits they receive from our regular interaction. I hope this helps.

    Hi robert.
    Thank you for your advice, it is appreciated.
    "Do everything - myself" mind set. LOL, that is exactly what I do.
    I got that mind set over the years when I was younger and our family had
    different businesses. It seemed no one could run it te way we did, heart
    and soul. So we would do all we could ourselves because we wanted
    to make sure it was done right. We nearly ran ourselves into the ground
    doing that.
    This is something I need to work on.
    Jess
  • Texson5Texson5 Posts: 1subscriber

    Jess, Is money really the only thing that`s holding you back?  Have you already done the following?: 1. Checked the marketplace to see if your idea already exists.2. Gotten feedback from people whom you would envision as your customers. This doesn`t mean friends and family.  I`m talking about people who are in the industry and would buy/use your product if it existed.  Do they think it`s a good idea?  You may think it`s a good idea, but it`s more important for them to tell you whether it`s good or not.  Why invest time and money before even knowing if people will buy it? The above two points should be done before even thinking about money. Don`t jump ahead of yourself.   I agree with Heather.  It`s best to bootstrap and get the idea off the ground on your own.  You should be able to do this on a limited budget.  Start small and grow from there.   On that note I would like to recommend a book that I think is a must have for anyone looking to start a business: How Small Business Trades Worldwide by John Wiley Spiers.  The author gives a very no-nonsense approach to launching and sustaining a business.  Good luck and keep us posted.  

    Hi SNco,
    To answer your question; Is money the only thing holding me back?
    No, but money has always seemed to be an issue in our family as far
    back as I can remember. Maybe it has been more of an excuse than
    I have wanted to believe.
    I use to watch `The Big Idea` and had listened to people talk about how
    the started with $500.00 or less and yet something in said it would work for me.
    I tend to make thing out to be more complicated than what they are. lol
    Thank you SNco for your question and advice.
    Jess
  • Texson5Texson5 Posts: 1subscriber
    Dear Jess,
    You might want to check with your local SCORE office, small business development agencies, inventor groups and Angels (investors who help people make things happen).
    As far as staying on track you might try planning out your project and sticking to your plan to completion.  It`s advantageous to focus on one thing and finish it before moving on to another.  In that way, you will experience the success that comes from completing tasks.  Look online under "how to plan my day" or some other such search.
    Take care,
    Guy

    Thanks Guy.
    I did find Score for my area and I will set up a time to talk with some one.
    I appreciate your advice.
    Thank yu.
    Jess
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Jess,
     
    From my experience and those of our clients;  the money (capital) can be acquired - if one is fully prepared and committed.
     
    Also, the change for "do it all myself" is a process-that usually begins with tiny steps.
     
    Good luck. Let me know if we can help further.
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    byrneof01,
    I don`t know about Ireland - but here in the US, the primary change from a couple of years back is in the credit arena, especially for personal credit. Getting some capital by taking out a equity line on your home isn`t very plausible right now.
     
    Commercial credit has been very difficult but is starting to "loosen up".
     
    As for equity or other securities approaches - properly prepared solid situations that are well presented are still getting support.
  • StevenSStevenS Posts: 1subscriber
    I used to have the same problem with having too many ideas and never getting anything done.
    Here is what I did to not get totally distracted from every great idea I came up with.
    1. When I have an idea that is unrelated to what I`m currently working on I write that idea down on a piece of paper and I put it in a drawer and forget about it until I`m done with what I`m currently working on.
    2. When I`m done with my current project, I go back to my drawer and look through what I`ve written. I put the really bad ones on the bottom and move the really good ones toward the top.
    3. Then I look at them again and find the one that I`m most excited about and that I can start working on now.
    This process has helped keep my motivation up and I`m usually always doing something that I feel excited and passionate about. Doing it this way has helped me from doing too much and accomplishing nothing.
    I hope this helps.
  • Texson5Texson5 Posts: 1subscriber
    Thank you Stevens,
    That is a great idea!
    Jess
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