From the Forward:
This book is packed with ideas! A handful
of them are good enough to immediately pick
up and run with, requiring very few changes. Most
however, are just a starting point for you
to build upon. From the subtitle, you must
realize that these ideas aren't your run-of-the-mill
business ideas found in most books. There's some
fairly plain ones that will probably solicit
a yawn. And then there might be others that
will make you say "Holy smokes! I'm gonna
do that!" They're not table-ready recipes
for success, but rather a collection of "half-baked"
ideas that need some more processing time.
Some of them are short a few key ingredients.
Some of the ideas just need a little more
spice. Hey! Then there's some of them that
may be just plain wacko!! Relax! It's OK.
This book was never meant to be comprehensive
or even correct. All these ideas are missing
something. And that something just may be
you!.
From the Business Advice chapter:
Get involved with a business that you feel comfortable with. Preferably, with
something that you know and enjoy. Can you transform a recreational interest or hobby into
a business? You don't need the stress of doing something you don't like. Choosing a
business for yourself is kind of like shopping for clothes. The concerns are basically the
same. Does it look good on me? Does it fit? Does it feel good? Can I afford it? Your new
business start-up should suit you. It should be an extension of who you are. It should
utilize your gifts and abilities. You should be able to discount most of the ideas in
this book based on the above criteria. If one of the ideas "clicks with you", make sure
it clicks with your heart and not just your brain. Confucius said, "Choose a job you
love and you'll never have to work a day in your life".
When bringing a new product to the marketplace,
don't forget about the distribution channels.
Your market survey may show that consumers will
buy your product, but it is the distributors
and retail stores that will have to present
it to the consumers. Retailers and distributors
think about things like: Does it compliment
my other lines? How much floor or shelf space
does it require? Does it have a proven sales
history? And, is there sufficient markup to
ensure a good profit? Choosing the wrong distributor
or method of distribution, can doom a product
to failure. Do some research to ensure that
the distribution channel you choose is the best
for your product. A poor product with good distribution,
will invariably do better than an excellent
product that isn't distributed properly. Go
back and read that last sentence again. Marketing
is the key to any business! See "Links
and Resources" at the end of this book
for where to find books and information that
will bring you up to speed on marketing and
give you an edge on your competition.
From the How to Generate Your Own Ideas chapter:
One way to find new business ideas is to look in the Yellow Pages of
another city that is about the same size as, or perhaps bigger than yours, and check
the topic headings. Did you know that Phoenix has a whole bunch of "Air Balancers"?
I haven't any idea of what an air balancer is, but I bet if you were to give one a
call, they would be more than happy to tell you the nature of their business. Maybe
your town could use an air balancer too. Be the first in your area to do what
somebody else is doing elsewhere. And don't forget to draw on the expertise of
those in other areas who have gone before you. The Yellow Pages are useful in
other ways. Look at each of the headings and think about the different aspects
of each business. Can you see anything there? Can they be marketed differently?
Can they be delivered differently? Can they be combined with another idea to
make it more convenient or viable?
The Under Ice Rover Idea:
There might be a small market for a wheeled robot-like device that
travels on the under surface of the ice in the Arctic, or in northern freshwater
lakes. It could be used for scientific research or search purposes. It would carry
a video camera, flood light, scientific instruments, perhaps a small robotic arm,
and other customer defined attachments.
After a suitably sized hole was cut through the
ice, the rover would be inserted and positioned
so that its wheels were facing up and on the
under surface of the ice, then compressed
air (small hand pump) would be blown into
a bladder to give it positive buoyancy so
the spiked wheels would have traction on the
ice. It would pull along behind it, a neutral
buoyancy umbilical cord, that connects to
the control panel up on the surface. For fast,
easy, deep water retrieval, the buoyancy bladder
would be remotely emptied so the rover would
sink and could be pulled straight up. The
umbilical cord would have air, video, power
and control lines with a retrieval line.
You would sell these specialized robotic instrument
carriers for $15,000 to $30,000 (or higher)
depending on how it's equipped and who the
customer is. If the Air Force can pay $30
for a 15¢ o-ring and $251 for 59¢ compressor
seal, one must carefully consider the mark-up
on an item that costs less than $2,000 to
build. Here's where you look for parts: Reid
Tool, McMaster
& Carr and Small
Parts.
The Safe Deposit Box Rental Idea (micro-storage):
This would be a good sideline to another
business. You would need a very secure vault
room that is fireproof and well above the
flood plain. A six by twelve foot wall of
boxes typically yield a bank between $15,000
to $45,000 per year, depending on the mix
of sizes and the vacancy rate. Smaller boxes
are about 18¢ per cubic inch, with the larger
(but still tiny) 600 cubic inch boxes renting
for about 11¢ per cubic inch per year ($66).
A twelve by fourteen foot room, about the
size of a master bedroom, could have about
three hundred 1,200 cubic inch boxes. 1,200
cubic inches is the size of a large desk
drawer. If you rented them for $30/yr. (less
than 2¢/cu.in.), that small room would yield
you $9,000 per year.
Besides giving your customers a huge price
break, you would have more convenient hours
than a bank. You will also have an extra-cost
after-hours number for people who need to
get at their stuff at 2:30 Sunday morning.
To keep costs low, customers would provide
their own padlock, and the drawers would
have inexpensive hardware. An attendant
would be present in the vault (or monitor
a security camera) when a customer wanted
to access their drawer.
Consider having specialty storage compartments
or rooms for larger items such as hunting
rifles. This would be a good sideline to
an existing business that has unused space.
You could have three or four rooms, each
with a different size drawer. Each room
would need to have a concrete wall separating
it from adjoining rooms, but only one safe
door (placed in the hallway) would be necessary.
Using the figures from above an eight hundred
square foot area (four rooms and hallway)
would have the potential to yield $36,000
per year. Who says that banks are the only
ones that know how to look after people's
valuable stuff?
- You should not have a criminal record
and you should be bonded for this business.
- In addition to being fireproof, your vault should be burglarproof. That means
a finding an old walk-in vault door and installing a good alarm system. Locating
it a short distance from a police station is also a good idea. If the police can hear
your alarm while they are sitting at their desk, so much the better.
- You should also have a secure system of letting people in and out of your vault
such as an second locked door to go through so you can't be rushed by extra people
you didn't see. Keep some body armour handy for times when your parking lot camera
picks up some unsavory looking characters. Western Union has ballistic glass
enclosures for its employees.
- In the same facility, you could offer off-site, encrypted, electronic data storage
for local businesses that is accessed through your web site with a password.
- There might be rules governing storing people's valuables, but then again, all you are
doing is operating a mini-storage business.
- A similar "renting out spaces" idea would be to get some land in the countryside on a
good road and turn it into a cemetery. Some people have lived their whole lives in
the city while yearning for a place in the country. If you're able to get a beautiful
site overlooking a lake and mountains beyond, advertise on the Internet and have a
small resort for ones who want to visit the grave site of their loved one. Even if
you sold space at half the going rate, you'd still make a bundle.
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