Solidifying Your Business Idea
For some, it can be hard to come up with a business idea, for others it’s pretty darn easy. Yanik Silver, a serial entrepreneur provides his ideas on developing the big idea. His ideas can keep your big ideas from fading into the “me too” group.
Starting With The Big Idea
When presenting your idea, give your idea to them straight. Don’t make them guess what your idea is, no need for them to work. This is crucial time so give it to them in a way that questions not need to be asked.
The people that use your site want something easy and useful. For instance Google search engine is so easy to use. The lack of advertisements makes the search engine more user friendly. As you know, Google is one of the more popular search engines, maybe thanks to its simple design. Google gives the people what they want without the “wow” factor.
Also, making a specific promise is a smarter idea than making a generic promise. Makes sense right? Specify the target market that you are aiming for. You can market to teenagers or you can market to male teenagers that watch MMA. Getting down to the specific makes it easier to come up with a business idea that is less likely to fail.
Opposites May Attract… Money
When people go right, go left. This may work to your advantage. I think about how small cellphones were popular and now all of a sudden we have phones that are almost the size of regular tablets. Which seem to be selling well in the mobile phone department. Talking about going in opposite directions.
Once your business idea is working and going well, switch platforms… so to speak. If there are ways to further broaden your business idea. Do it. Think of different ways to expand your product.
It Never Hurts To Be The First
As always, being the first person with an idea certainly helps. It’s not hard to have a business plans for a new product in the online world. Since you are the first to come up with the idea, for instance the first website to use eCommerce. I’m sure they benefited greatly and probably saw their profits skyrocket because of eCommerce. What comes to mind is how Amazon used eCommerce. Sites such as eBay, may not be the first to use bidding, but really benefited from bidding and the “pay now” option. Both options kept eBay riding high for years.