Motivational entrepreneur stories


Start-up Idea: Make something a lot of people want a lot

1. The severity of need addressed by your product or service.

2. The number of people who have that need.

ideal...

The best—and often the most successful—ideas service a huge need for a huge number of people. These are highly profitable as Internet treasures. They practically sell themselves—and grow customers organically. They're viral because everyone who encounters them tells everyone else about this great new thing that makes your life better. The cost to acquire users can often be very low.

risky...

The next-best sort of start-up ideas service a huge need for a smaller number of people. These types of ideas can be highly profitable as enterprise businesses. [...] "There's no software priced between $1,000 and $75,000. [...] The minute you charge more than $1,000, you need to get serious corporate sign-offs. You need a line item in their budget. You need purchasing managers and CEO approval and competitive bids and paperwork. [..] the cost of making one successful sale is going to average about $50,000. If you're sending salespeople out to customers and charging less than $75,000, you're losing money."

manageable...

The next-best ideas service a smaller need, but serve a huge number of people. These are profitable, and will likely throw off enough cash to be an awesome lifestyle business. Since they're less essential to customers, though, it can be tougher to make money running one.

not good...

The yet next-best ideas service a small need for a small number of people. Not to bear the bad news, but there just isn't enough firewood around to light this kind of blaze.

change your plan...

The worst ideas are the ones that don't solve a problem, or create more problems than they solve. People neither want it nor need it. Zero times zero equals zero. Many arrive on this path when they've focused too much on capabilities (i.e. "wouldn't it be cool if?") or what they want (i.e. to be rich, admired, successful), rather than what other people actually need or want. Change the problem you're solving. Address a different, bigger need that more people have.

So there you go - where does your idea fit?

damienarlabosse

How To Make A Company & Sell It For 120 Million - Guillaume Decugis

Guillaume Decugis previous company, Musiwave, was sold for $120 million in 2006 and was the leading Mobile Music Service Provider in Europe. Musiwave is now a Microsoft company. Guillaume also launched Goojet, a mobile social media which topped 1m downloads in France at the end of 2010. Currently he is the CEO & Co-Founder of Scoop.it, the publishing-by-curation platform that makes it easy to create an online magazine on your favorite topic. Listen to his true tech hustler story now and learn вЂ...

damienarlabosse

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