Entrepreneurial Minded

Entrepreneurial ideas are a dime a dozen… good commercial ideas however are a scarce commodity. Whenever you hear someone say, “I’m an idea guy, I’m always thinking of new ideas,” run the other way! They have just confessed, albeit usually unknowingly, that they’ve yet to learn how to focus. I know because I use to be an “idea guy”. It served me wonderfully as the co-founder of a successful marketing agency selling my ideas to clients (because ideas were the product)… when I started a restaurant endeavor this trait ultimately led to my demise. In the case of the restaurant start-up, I was not able to successfully manage the balance between creation and execution.

There is a term that McKinsey consultants use when getting rid of ideas: “kill your babies” (discussed in a great book called The McKinsey Mind). If you have a good idea but it cannot be monetized – kill it! There is no reason (as an entrepreneur) to waste your time on an idea that will never make you money. During the early stage, your idea can be far from perfect. However, if you can’t write a short paragraph on how it will motivate someone else to take money out of their pocket and put it into yours it’s probably not worth pursuing.

I love fitness and want to help people perform better. As a result my idea is to start a nutritional supplement company that enhances people’s ability to achieve various goals. Functional nutriceuticals is a simple and proven idea that will generate revenue through innovative products that are designed to help people accelerate their aspirations and improve performance. So I have my idea, now it is time to get started. If you are struggling to come up with your own idea, great entrepreneurial ideas can be garnered from checking out the articles and information found at the Entrepreneur.com website.