Want to start up - but missing the idea??

Lmnover

Hi

I have wanted to open my own business since as long as i can remember, i am extremely ambious and am currently managing director of a company where i have worked my way up the ladder over the past eight years.

My problem is that i dont have "that one good business idea" to be able to plan towards and develop, i am not that interested in opening up in the type of business that i am currently working in and am at a point of despair - as i feel that without the initial idea i cant go in any direction to plan towards it.

I have considered business coaching maybe as an option to see something that i am missing - does anyone have any other suggestions as to where to go next?

shoutman

I'm not sure if this will be of any help to you, but what I do is carry around a moleskin notebook and jot down any ideas that come into my head, ridiculous or not. I write down random things llike how I liked a certain cafe's decor or saw a "special" in a restaurant that I thought was a great idea. I write down problems that I face during the day and brainstorm possible solutions, all in order to try and come up with a plausable business idea that one day I'd hope be able to make a reality.

A lot of things do come to mind if you constantly have it in the back of your head. For me if I ever just sat down and thought, hmmm what is a good business idea? I would come up with zilch. On the bus, while driving, when jogging etc is when random ideas just pop into my head.

Maybe just give it a try, carry around a notebook and write down everything you think of. It will be 99% crap but you might find that 1%.

Joseph

shoutman wrote: »

I'm not sure if this will be of any help to you, but what I do is carry around a moleskin notebook and jot down any ideas that come into my head, ridiculous or not. I write down random things llike how I liked a certain cafe's decor or saw a "special" in a restaurant that I thought was a great idea. I write down problems that I face during the day and brainstorm possible solutions, all in order to try and come up with a plausable business idea that one day I'd hope be able to make a reality.

A lot of things do come to mind if you constantly have it in the back of your head. For me if I ever just sat down and thought, hmmm what is a good business idea? I would come up with zilch. On the bus, while driving, when jogging etc is when random ideas just pop into my head.

Maybe just give it a try, carry around a notebook and write down everything you think of. It will be 99% crap but you might find that 1%.

I do the same thing, i have a notebook that I write all my ideas down in. I look through it every few days to keep on reevaluating the ideas. Sometimes theres an idea that will stay with me and I look into it further as it could be a real winner

kazzer

Thanks for this tip, shoutman.

professore

Find a visionary with an idea and potential to make it a reality and team up with them. You sound like you have all the other skills needed to build a successful business - and there are many as you know.

TheCostumeShop.ie: Ronan

Taking some time to go travel. Wander around America and Asia while asking yourself would any of those types of businesses work here! The world is awash with idea's - you just have to get out there and recognize them.

Lplated

I agree with those who keep random notebooks on ideas - certainly helps with creating ideas and so on.

If after trying that you might consider looking at franchises, maybe those currently available in ireland, or alternatively look at those on offer in the US that aren't currently on offer here and see if there was something you'd be interested in bringing to the country.

Alternatively you could put ads up here or in a newspaper along the lines of "experienced managing director with capital to invest seeks partnership in new/developing business. all offers considered. p.o. box 1234" etc..

giddybootz

what area would you like your business to be in....as in do you want to invent something, run a restaurant/pub/club type thing, media business etc??

i have a great idea in my head which i plan out when im lying in bed and cant sleep...i visualise what the place will look like, the opening night, the staff etc. however....don't think it will happen for a LONG time/ever as i have no capital

drunkmonkey

a good place to start would be sites like this, plenty of inspiration there http://springwise.com/

PCPhoto

my problem is that I have the ideas and dont have the money or time to put into developing them ...... most are pretty small to medium businesses with potential to expand.....two of them off the top of my head I have been going through for the last couple of months - done projected cost analysis, forecasts, surveys - to see if its marketable, gotten quotations for machinery/advertising/marketing ..... both of my main ventures seem profitable..... and my analysis of my problem !!! (money aside ..... my other problem is that my plan of expansion is too fast, at the moment I have one of the ideas working on a small scale but cant afford to bring it to the level I want it - and dont want to ask an investor as I may not be able to commit fully to it)

yop

PCPhoto wrote: »

my problem is that I have the ideas and dont have the money or time to put into developing them ...... most are pretty small to medium businesses with potential to expand.....two of them off the top of my head I have been going through for the last couple of months - done projected cost analysis, forecasts, surveys - to see if its marketable, gotten quotations for machinery/advertising/marketing ..... both of my main ventures seem profitable..... and my analysis of my problem !!! (money aside ..... my other problem is that my plan of expansion is too fast, at the moment I have one of the ideas working on a small scale but cant afford to bring it to the level I want it - and dont want to ask an investor as I may not be able to commit fully to it)

Would be the same as you, have 5 or 6 ideas but dont have the time do expand them since I am so busy here with the "job" I am in. Do you folks just use every other hour outside of work to develop your ideas?

I like the notebook idea, I have my best ideas early in the morning when out working for my Dad at 5am

gnxx

Totally agree with this. Good post.

I made a joke in an earlier thread about writing a business plan everytime I'm on holiday. Walking the streets in a strange city is often inspirational.

The notepad is also a great idea.

Fancy Dresser wrote: »

Taking some time to go travel. Wander around America and Asia while asking yourself would any of those types of businesses work here! The world is awash with idea's - you just have to get out there and recognize them.

Spinnaker

I identify with your problem, OP.

Not a specific answer exactly but holding a mirror up to you and your post ...maximise your exposure to ideas, which of course don't have to be yours. Lots of other people around with ideas who would benefit from running into you and your skills.

So .. exposure to ideas... forums like this and as many relevant network events you can stomach ....

Snuggle Bunny

My husband too wanted to have his own business for years but did not know what, in the end he decided to combine something he loved doing with something he thought he could do better than what was on offer. It takes alot of guts, and unless you go for it you will never have 'the time'. Be prepared to be completely consumed by it. Good luck with it

HappyYear

But what exactly you wish to start up. I think most people have when comes to starting a business is well they wait to have the right ideas? But what ideas are right? and how do you define the idea is right or not. No one will know for sure unless you put it in to practice.

Test the water and you will know it is a good idea or not. Otherwise I have to say, it is just an excuse.

lanod2407

PCPhoto wrote: »

my problem is that I have the ideas and dont have the money or time to put into developing them ...... most are pretty small to medium businesses with potential to expand.....two of them off the top of my head I have been going through for the last couple of months - done projected cost analysis, forecasts, surveys - to see if its marketable, gotten quotations for machinery/advertising/marketing ..... both of my main ventures seem profitable..... and my analysis of my problem !!! (money aside ..... my other problem is that my plan of expansion is too fast, at the moment I have one of the ideas working on a small scale but cant afford to bring it to the level I want it - and dont want to ask an investor as I may not be able to commit fully to it)

Why dont you enrol on one of the Enterprise schemes such as Limerick's Enterprise Start programme? www.eac.ie Circa €300 for the course which runs outside working hours. You get a lot out of the programme and can develop a business plan as you go through the course. Can help you get moving on an idea - or it might show how it just won't work - either way, it'll be useful.

ClearViewLtd

Amongest other things I work as a business mentor to startup and newly established businesses. If I can help then don't hesitate to contact but what I will say is that the mistake most individuals make is thinking of the new business concept based on profitability. The most successful business concepts are those that are born of need or passion. The key starting point is for you to sit down and decide what would really excite you - for this part you really need to park your ego (thats the voice that will be telling you that if needs to give you the same statues as your last job, twice/triple/etc the income.......) Anyway as I said, if I can help just contact me.

Darragh29

shoutman wrote: »

I'm not sure if this will be of any help to you, but what I do is carry around a moleskin notebook and jot down any ideas that come into my head, ridiculous or not. I write down random things llike how I liked a certain cafe's decor or saw a "special" in a restaurant that I thought was a great idea. I write down problems that I face during the day and brainstorm possible solutions, all in order to try and come up with a plausable business idea that one day I'd hope be able to make a reality.

A lot of things do come to mind if you constantly have it in the back of your head. For me if I ever just sat down and thought, hmmm what is a good business idea? I would come up with zilch. On the bus, while driving, when jogging etc is when random ideas just pop into my head.

Maybe just give it a try, carry around a notebook and write down everything you think of. It will be 99% crap but you might find that 1%.

This is what I do. I have a notebook and I often walk up around the Dublin mountains (around the back of Montpelier Hill/Hell Fire Club), I bring a flask of tea with me in a backpack, go into the absolute wilderness up there and as I'm walking through the forests or through the mountain trails, I'll have loads of ideas running through my mind. I'll develop and tease out one of them as I'm walking along, adding up the pro's and con's, eventually after an hour or so, I'll sit down on a stump somewhere and I'll put down on paper the very basic framework for the idea, usually who I need to get it off the ground, who I will sell to, who I will buy from, how can I market the business, etc, etc.

Here's an idea for you that I came up with last night when I was eating a Pizza! I had just take the Pizza out of the oven and obviously I wanted to eat it while it was hot, but when I held it, it burnt my fingers. I was thinking of an idea that would allow me hold the slice of hot Pizza with my fingers and eat the thing without burning my fingers!

Ok, this is a bit of a novelty idea, I imagine people would just let the pizza cool down a bit and that would resolve that, but that is how you come up with an idea, you look at where something is inconvenient, bothersome, overtly expensive or difficult and you come up with an alternative solution...

Axwell

Darragh29 wrote: »

I was thinking of an idea that would allow me hold the slice of hot Pizza with my fingers and eat the thing without burning my fingers!

They invented this years ago, its called kitchen paper/towel

I agree with Darragh though, you need to sit down and get the ideas down on paper somewhere where you have peace and quiet and then go through them and see whats feasible, investigate them a bit further even just the parts needed to get it up and running. At this stage you can see whats worth pursuing or what looks like a non runner but you will never get to that stage if they are just ideas twirling in your head.

Darragh29

Axwell wrote: »

They invented this years ago, its called kitchen paper/towel

I agree with Darragh though, you need to sit down and get the ideas down on paper somewhere where you have peace and quiet and then go through them and see whats feasible, investigate them a bit further even just the parts needed to get it up and running. At this stage you can see whats worth pursuing or what looks like a non runner but you will never get to that stage if they are just ideas twirling in your head.

Another thing OP, just reflecting on my own experience and that of lads I know who are at the same thing I'm at, (working for themselves/running their own businesses), you are very lucky if the first thing you go at happens to be the idea that will work out for you. Anyone I know who is now successful, has usually had to deal with failure first. I don't believe that it should be like this, but unfortunately in this country with the amount of red tape and b*ll****, it usually is...

Sgriff

I am involved in a Multi Channel Marketing venture (first in Ireland)- if you are interested in working for yourself, etc I am happy to send you overview. Sounds complex but actually not and you will get allot of support and help - it is about enabling people to work from themselves and the earnings are very real. Also the product is very exciting, especially if you are into gaming!

TheCostumeShop.ie: Ronan

Sgriff wrote: »

I am involved in a Multi Channel Marketing venture (first in Ireland)- if you are interested in working for yourself, etc I am happy to send you overview. Sounds complex but actually not and you will get allot of support and help - it is about enabling people to work from themselves and the earnings are very real. Also the product is very exciting, especially if you are into gaming!

Is that Xocai? Be very very wary of Xocia! Do your google research.

Sgriff

No it is not. This is very transperant and very low risk - not a get rich quick scheme. You have to work at this or you are wasting your time. I think the starting point would be to suggest that you google the correct concept of multi channel marketing - many people have strange concepts of what this is. There is a product at the core of this. If you lilke I can email a pdf of the business concept - if you like the idea then we can discuss the product. However I will say that the people best suited to this do not come from a sales background. I do and this was the biggest hurdle I struggled with at the start - needed to understand the concept as the product is not the focus (this is really the whole idea behind proper MCM). I was also very fortunate to have a friend working in a large corporate in Ireland that based its whole revenue stratergy on MCM. To be very honest at the start I enter this with the idea that I was happy to take a punt as outlay minimal (really my time). Once I got talking to a few friends (initially) I then understood why people are attracted to it and why it has worked so well for the last 20 odd years.

TheCostumeShop.ie: Ronan

Sgriff

As far as i'm concerned its a Pyramid Scheme that will cause massive financial hardship to people who do not understand business fundamentals and get involved. Xocai just about avoids the defination of a pyramid scheme by insisting that members buy a $110 dollar box of chololate (wholesale) each month to stay in the pyramid. Xocai business model sucks, its all talk no financial sense.

Correct me if i'm wrong but in this economy people cannot afford a regular 150Euro per month (plus Vat if members could reach the VAT threshold) chocolate addiction. That amounts to Euro1800 per year (plus VAT = Euro2138). Yes the product is great, no the financials don't stack up.

Tesco sell an organic version of a similar product (choxi+) in some of its stores (£1.99 per 70g bar) at something like 8% of the price.

The Xocia business model is buy a box of chocolate for yourself per month and then spend your time trying to recruit other people to the pyramid. Think about it - did they at any stage give you profit ratios, break even points, bulk order discounts or any normal operational selling figures?

Or, like me, did they just tell you you didnt need to understand the full business model - just focus on getting people into your downline and you'll get lots of nice Mercedes and Cruises.

Would be very interested if you, or anyone associated with Xocia, could post financial information and demand statictics for the Xocia product for scrunity by our board members that make it even slightly lucrative a business (without the pyramid aspect) product to sell...

(Mods sorry this thread went of topic but our memebers must be protected from the Xocia Scheme).

delllat

Fancy Dresser wrote: »

Sgriff

As far as i'm concerned its a Pyramid Scheme that will cause massive financial hardship to people who do not understand business fundamentals and get involved. Xocai just about avoids the defination of a pyramid scheme by insisting that members buy a $110 dollar box of chololate (wholesale) each month to stay in the pyramid. Xocai business model sucks, its all talk no financial sense.

Correct me if i'm wrong but in this economy people cannot afford a regular 150Euro per month (plus Vat if members could reach the VAT threshold) chocolate addiction. That amounts to Euro1800 per year (plus VAT = Euro2138). Yes the product is great, no the financials don't stack up.

Tesco sell an organic version of a similar product (choxi+) in some of its stores (£1.99 per 70g bar) at something like 8% of the price.

The Xocia business model is buy a box of chocolate for yourself per month and then spend your time trying to recruit other people to the pyramid. Think about it - did they at any stage give you profit ratios, break even points, bulk order discounts or any normal operational selling figures?

Or, like me, did they just tell you you didnt need to understand the full business model - just focus on getting people into your downline and you'll get lots of nice Mercedes and Cruises.

Would be very interested if you, or anyone associated with Xocia, could post financial information and demand statictics for the Xocia product for scrunity by our board members that make it even slightly lucrative a business (without the pyramid aspect) product to sell...

(Mods sorry this thread went of topic but our memebers must be protected from the Xocia Scheme).

they have got to be taking the piss on the price.....

But the biggest difference is that Xocai costs about £2.65 per 6g square and Choxi+ costs just £1.99 per 70g Bar
Choxi+ is available online and in Selected TESCO stores.

enviro

Sgriff wrote: »

I am involved in a Multi Channel Marketing venture (first in Ireland)- if you are interested in working for yourself, etc I am happy to send you overview. Sounds complex but actually not and you will get allot of support and help - it is about enabling people to work from themselves and the earnings are very real. Also the product is very exciting, especially if you are into gaming!

I think he said its to do with gaming not choclate

TheCostumeShop.ie: Ronan

enviro wrote: »

I think he said its to do with gaming not choclate

You mean gaming people out of their money??

Sgriff

Hi Guys - I can't comment on the chocolate comapny but the opportunity I am involved with is based on a online game. you pay $250 to join the group and then the monthly subscription of $40 bucks to the game. My view on this was $250 to start a business/get involved in a business wasn't bad and the monthly fee is not inflated but the same price as to the public - be it the gold membership (you can join for less but you only get access to the base levels). I viewed the monthly subscription to the product no different to me buying stock/samples - need to be able to show the product. You make your margin on the amount of monthly subsriptions you have in your network - the more you have the more you earn. You only earn from 4 levels of your network otherwise the price would have to be inflated.

My understanding of a pyramid scheme was firstly that there is no product involved. In this network people will drp and join all the time but doesn't mean it collapses - its a sales network at the end of the day! Anyway just my opinion and appreciate everyones views. thanks

delllat

Sgriff wrote: »

Hi Guys - I can't comment on the chocolate comapny but the opportunity I am involved with is based on a online game. you pay $250 to join the group and then the monthly subscription of $40 bucks to the game. My view on this was $250 to start a business/get involved in a business wasn't bad and the monthly fee is not inflated but the same price as to the public - be it the gold membership (you can join for less but you only get access to the base levels). I viewed the monthly subscription to the product no different to me buying stock/samples - need to be able to show the product. You make your margin on the amount of monthly subsriptions you have in your network - the more you have the more you earn. You only earn from 4 levels of your network otherwise the price would have to be inflated.

My understanding of a pyramid scheme was firstly that there is no product involved. In this network people will drp and join all the time but doesn't mean it collapses - its a sales network at the end of the day! Anyway just my opinion and appreciate everyones views. thanks

what game is it?

TheCostumeShop.ie: Ronan

Sgriff wrote: »

Hi Guys - I can't comment on the chocolate comapny but the opportunity I am involved with is based on a online game. you pay $250 to join the group and then the monthly subscription of $40 bucks to the game. My view on this was $250 to start a business/get involved in a business wasn't bad and the monthly fee is not inflated but the same price as to the public - be it the gold membership (you can join for less but you only get access to the base levels). I viewed the monthly subscription to the product no different to me buying stock/samples - need to be able to show the product. You make your margin on the amount of monthly subsriptions you have in your network - the more you have the more you earn. You only earn from 4 levels of your network otherwise the price would have to be inflated.

My understanding of a pyramid scheme was firstly that there is no product involved. In this network people will drp and join all the time but doesn't mean it collapses - its a sales network at the end of the day! Anyway just my opinion and appreciate everyones views. thanks

Really sorry, I thought when you said no its not you meant its not bad. Sorry again, those others are positioning themselves as the the MLM scheme in Ireland too (i could be wrong - I thought MLM has been around for decades).

MLM is a a great way to grow a business and you get to learn a ton from people above you who have built expertise. Best of luck with it.

Sgriff

Has been around for decades as you said and perhaps you are right and is being used in Ireland. I couldn't find any other businesses but doesn;t mean there not there. I do know of multi national in Bray using it but they don't sell in Ireland.

Game is based on Star Gate the movie/tv series. Due to launch in April 09.

TheCostumeShop.ie: Ronan

Sounds fun, I love that series. Feel free to post your link so that we can all take a look.

Sgriff

Any body interested in getting involved then happy to discuss

enviro

MLM is used by Kleeneze and Herbalife, just to name a few businesses that trade in Ireland

Darragh29

I was in the gym yesterday and I was trying to do sit-ups, and was making a b*lls of it! I tried using one of those cradle thingys (see pic attached) and it just meant my arms were doing the work that my abs should have been doing, which defeated the purpose of doing sit-ups in the first place!

All I needed was something to stop my feet & legs rising off the ground as I started doing a sit up, simple problem with a simple solution!

So I thought of a product that I've never seen in a gym anywhere, which is basically a foam sheet on top of a simple and light metal structure that you lie on and at the end of the structure, down at your feet, there are two nicely designed kind of spaces that you can slot your feet into. The whole thing is just something that you lie on top of and at the end you can lock your feet into, to stop them rising as you do a sit up.

Your weight on the board you are lying on will make sure your feet (which are sitting into a locators for your feet), will stay firmly on the board you are lying on!

There you go, design that and solve my problem with sit ups for me!

I've seen lads using everything from the skirting boards to dumb bell weights to try to keep their feet on the ground as they do sit ups and none of these solutions work!

shoutman

In the gym in my rugby club they just have wooden boards with leather at the bottom that hold your feet in place, the boards are inverted so it does pretty much the same job as what darragh is talking about. Obviously it isn't the most comfortable thing but mneh.

Darragh29

shoutman wrote: »

In the gym in my rugby club they just have wooden boards with leather at the bottom that hold your feet in place, the boards are inverted so it does pretty much the same job as what darragh is talking about. Obviously it isn't the most comfortable thing but mneh.

Well sounds like something that could be improved upon and developed into a product and it doesn't seem to be expensive to do...

REDZ

Hey Folks
EI have a partnering scheme http://www.enterprise-ireland.com/ResearchInnovate/Research+Commercialisation/Business+Partnering+Programme.htm
R

boomshackala

HI OP
I'm setting up a coaching business helping others to get into business, specifically renewables, but I can spend some time with you over the phone for free (will help me develop my coaching skills) PM me if interested. I can especially be of help if you are interested in coaching.

mealone42

Lmnover wrote: »

Hi

I have wanted to open my own business since as long as i can remember, i am extremely ambious and am currently managing director of a company where i have worked my way up the ladder over the past eight years.

My problem is that i dont have "that one good business idea" to be able to plan towards and develop, i am not that interested in opening up in the type of business that i am currently working in and am at a point of despair - as i feel that without the initial idea i cant go in any direction to plan towards it.

I have considered business coaching maybe as an option to see something that i am missing - does anyone have any other suggestions as to where to go next?

Try sustainable energy. That is the way forward. I am playing around with it. I have the ideas but unfortunately lack the finance. Grants are available from SEI for some projects.