Where Do You Find Good Ideas To Start A Business?
Where Do You Find Good Ideas To Start A Business?
Just about everybody has a great idea from time to time. Some people run with those ideas and set out a course to make those ideas become a reality. Other ideas never get off the ground because they never move beyond the idea stage. Often the action is the biggest factor in whether or not a great idea becomes more than just an idea. For many of the world’s greatest entrepreneurs, success began with an idea. No matter what the idea was, they decided to pursue it and make it happen. A lot of people have the entrepreneurial spirit but not everyone has a great idea. So one might ask then, “Can a person really become an entrepreneur if he or she doesn’t have any good ideas?” You might think that the answer is no. After all, how can you start something great if you don’t have an idea to go with it?
Searching for a Great Idea
However, the truth is, lacking an idea is not enough to stop someone from becoming an entrepreneur. In fact, it could be that you just need a little help to get the creative juices flowing; and you might discover that you have more ideas than you think. I spoke with Rob Ryan recently, who is the founder, and former chairman and CEO of Ascend Communications. Rob currently mentors and works with entrepreneurs through his Entrepreneur America Mentors’ boot camps, located at his ranch in Montana. When I visited with Rob at his ranch we spoke about what it takes to become a successful entrepreneur and I posed the following scenario to him. “I’m an aspiring entrepreneur but I just need an idea for my business. How would you go about coaching an entrepreneur to come up with a great idea?”
Drilling for Core Competencies
Surprisingly, Rob told me that that type of scenario happens to him all the time. He said: “It sounds funny but people say I want to be an entrepreneur but I don’t have an idea.” It sounds like conundrum but Rob said he has a method that he uses to help entrepreneurs facing this challenge. Rob said he sits down with them and starts to ask them some questions. He asks them what they are really good at, as well as what they are passionate about? Rob said he is trying to drill down to the individual’s core competencies. He said once a person has some core competencies identified then he or she can start to use those “as the ingredients to figure out their idea.”
Ideas Will Become
Rob said that when a person identifies his or her ingredients then it is time to start brainstorming ideas that are associated with and based on those ingredients, or core competencies. Rob said there are no right or wrong ideas and that they shouldn’t be ranked or judge. The only qualification in the beginning is that your ideas have to use at least one of the core competencies you have identified. Rob said “that would take me about an hour or two and we’d come up a whole host of ideas.” So there you have it. You can still become an entrepreneur even if you don’t have a great idea right from the beginning.
We hope you found this article about “Where Do You Find Good Ideas To Start A Business?” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
We have discussed the federal government’s efforts to track down tax-evaders many times before, but the IRS isn’t the only tax agency looking to crack down on those who don’t pay their fair share of taxes. The California Franchise Tax Board is in the middle of a five-and-a-half-year effort to automatically find and identify…
The IRS is Not a Bully You can poke a bully in the nose. By Alan L. Olsen, CPA, MBA (tax) Palo Alto, CA. July 4, 2014 – This is the Fourth installment of “The IRS is Not a Bully” series, identifying taxpayer concerns and the difficult position in which Congress puts the IRS. Namely,…
The rich are already taxed enough, right? Although many would disagree with this statement, unfortunately there are others who think that no matter how much they take from them, the rich can’t ever be taxed too much. To that end, democratic lawmakers in New Jersey are pushing for even greater income taxes on the wealthy,…
The debate over corporate taxes has raged for years, but even though the battle has been going on for decades, it has definitely experienced some changes. The business world, and the world in general, has changed since the days when Ronald Reagan was in office. That means politicians have also changed their battle cry. It…