As a marketing guy I get to see a lot of new business ideas. And a lot of old ideas. Some good, some bad.
Do you have a business idea that could make you millions?
Good for you. Pursue your dreams and I hope you make it big. Real big.
But a new idea isn’t necessary to be hugely successful. An old idea will do just as well. Maybe even better.
Here’s The Secret
Do the common thing uncommonly well. (I wish I had of said that first, but it is attributed to Paul Oreffice, Chairman of the Board, Dow Chemical.)
Don’t get me wrong. New ideas are great. It’s just that you firstly have to convince your market that the idea fills a need.
One of my old clients is a hairdresser. Like a lot of people, you may be thinking their is no money in being a hairdresser. Except he services his customers so incredibly well that he has 50 salons!
He does a common thing uncommonly well.
I have another client who took over the management of a resort – a very competitive industry where I live. The client was new to the industry. Within three- (3) months she said to me, “Brendon, this business is a license to print money.” This client sold the business just twelve months later at a terrific profit.
She does a common thing uncommonly well.
A common idea has 3 big advantages over a new idea
- A market already exists
- The market is aware of the product or service
- There is a demand
So if you can get to that market and give them a good reason to buy from you, then you are a big chance for big success.
The new idea business obviously has its own benefits, but it can be more difficult when you compare this with an ‘old’ idea.
Just add these qualities
The quality of your idea is important. But what is more important is the qualities you bring to the idea.
- Do you have persistence?
- Can you sell?
- Is your attention to detail incredible?
- Do you have a wide range of experience?
- Can you market better than the competition?
I’m a big believer in this
A good operator will generally run a profitable business, no matter what it is. A poor operator will generally struggle with whatever business they are in.
If you have the determination, the drive and the fire to make things happen then you’ll be just fine. Never, ever waver from what you are trying to achieve.
It truly is up to you. Business is the ultimate game. You have a clearly defined scorecard called “profit”. It’s all up to you.