3. Powering the Dream : Part 3 – “Cool Business” Series

Let’s start from scratch.

For you, let’s imagine a business idea that fully replaces the Home Business system gimmicks you’re used to and that excites you and your customers.

We worked on a CENTRAL THEME last time; the grand vision for your business and what you stand for—your uncompromisable values. If you found that lesson a little difficult to action, then it’s likely because a Vision is abstract.

It requires a business idea to bring it to life.

Today’s lesson will help you find your business idea. Not just any business idea though; one that is seeping with passion and is inspired by your values, motivations, and abilities. Audiences will desire contact with your product or service because it stirs their most primitive emotions.

Let’s begin with a case study.

***

A Computer In Every Home

For 14 years, Bill Gates of Microsoft fame was ranked the richest man in the world.

As he was often quoted saying, his dream for Microsoft was:

A Computer in Every Home”.

Gates’ vision came from a central belief he holds of EQUAL OPPORTUNITY in learning, regardless of socio-economic class. It is a dream we can all share! Although the theme itself is hard to pinpoint in the statement, we can see the same belief carried to another one of Gates’ organisations… the Bill & Melinda Gates Foundation.

The vision statement there says:

“We are dedicated to bringing innovations in [learning] to the global community.”

Notice that “computer” has been exchanged with “learning“. And that “every home” has been exchanged with “global community“. The vision is basically the same, but the way the goal is achieved is different.

In Microsoft, Gates achieves the vision by selling software.

In the Bill & Melinda Gates Foundation, he does it through charity to schools and investment in research.

The business idea is the vehicle which allows the vision of the founder to be realised.

Similarly, in dramatic works of literature or film, we find that the theme of a story is also abstract and not unique at all. The PLOT, on the other hand, tells us a series of unique actions and events in such a way that the central theme is demonstrated to the audience.

For example, suppose your vision is:

“Delight children and encourage their imagination.”

Not so profound is it?

One might choose to achieve that vision in any way they like. For instance, my friend Shereen, who is very artistic, creates and sells beautiful decorations for children’s playrooms and bedrooms. On the other hand, another entrepreneurial mother who has some experience with computer programming might create and sell educational online games for children. A single-dad might maintain a paid forum where he and other fathers exchange ideas on how to raise creative kids. And so on.

These are all good business ideas, aren’t they?

Surely they are more interesting than generating traffic for someone else to sell their crappy products to– and watching while others profit from your hard work.

So where do people get their cool business ideas from?

Let’s take a look…

***

Before the PC there was the Teletype…

It was the late 60’s and computers were expensive and uncommon. When you wanted to use one you had to RENT a block of computer time on a mainframe (say, from General Electric). And since the real computer was somewhere else, you would need to use some sort of type-writer-printer gizmo to talk to it.

Not only that, but you needed to program it yourself.

Translation: Computers were neither accessible nor useful to regular people.

When Bill Gates was in the 8th grade his mother bought a Teletype terminal and rented a block of computer time for the school. Bill Gates became very interested in programming computers as a result.

Bill was in a pickle.

Gates wanted to spend all his time programming the computer but couldn’t afford it. Along with some naughty and ambitious friends he started exploiting loopholes in the system to steal computer time. He was eventually caught. So Gates made a deal with the computer company to find holes in their system in exchange for computer use.

As he made more of a name for himself, IBM asked Gates to create an operating system for their new personal computers. He agreed and charged them a one-time fee of 80,000 dollars!

But instead of selling the copyrights to IBM, he held onto them.

Gates predicted that other manufacturers would imitate IBM’s personal computers for cheaper and they will need operating systems too.

That’s exactly what happened. And Microsoft’s growth exploded. Today each home has MULTIPLE computers.

***

Most people try to come up with their business idea before they have a theme. However, in the story I shared with you about Microsoft, you can see that the theme is what gives rise to POWERFUL business.

Also, most people try to build a business in an area where they are limited in resources, knowledge, and skill. So they have a lot to learn before they can start earning. The following exercise will help you take stock of your existing resources and eliminate learning time in rendering your product.

Exercise:

Each of the topics below is a fundamental resource needed by an entrepreneur to successfully build a business.

Use 5 sheets of paper and write one topic at the top of each page. Time yourself for 20-30 minutes, non-stop. Don’t take breaks and fill the pages with as many answers as you can come up with.  Keep adding to your answers until the time is up.

 

  1. KNOWLEDGE: Write down any qualifications, certificates, degrees, “how to” books, or courses you have ever studied or completed.
  2. CREATIVE OUTLETS: Write down all your creative outlets or hobbies that you enjoy or have enjoyed in the past.
  3. SKILLS: Write any skills you possess that others admire or envy.
  4. WORK: Write all the jobs you have ever had.
  5. PASSION: Write every topic that fascinates you or has fascinated you in the past.

 

When you finish the exercise, study your answers. From each page, circle 1-2 items that you believe will be most helpful in achieving the vision you wrote in our previous lesson.

By the time you are done with the exercise, you should have a hot business idea you can build online. Put your idea somewhere safe and start investigating it. You’ll refer back to it in following lessons of this series.

Creating this business is going to be easy. You’ll profit from it quicker and you’ll have more fun working on it than any affiliate or marketing system you’ve ever tried. I promise!

Hey, we can help you find your own creative business. Whether you need to bounce ideas with someone or you’re just unsure about what’s right for you, we can help - Click to learn more!

 

 

Author: Jim Yaghi

Jim Yaghi is an advertising consultant and traffic expert, with a background in Artificial Intelligence.

26 thoughts on “3. Powering the Dream : Part 3 – “Cool Business” Series”

  1. Now this is a great exercise. A tip I learned along the is to always have a notepad and paper with you. Because sometimes we forget things we have experience in or don't feel find the significance in them. Thank you Jim

    1. Yea, the IPhone Notes is soooo handy for that Richard :)

      Jim, this is a great exercise, a business idea coming from a place of passion, now its easier to get up in the morning :)

      Look at apple, why can they go into any market and take over? there business comes from there theme

    2. Total Domination? OO wait that's Wal-mart.. Because Franchise must be having a feild day in this economy because they are all about real estate, buy buy buy….ahhhhh.

  2. Now this is a great exercise. A tip I learned along the is to always have a notepad and paper with you. Because sometimes we forget things we have experience in or don't feel find the significance in them. Thank you Jim

    1. Yea, the IPhone Notes is soooo handy for that Richard :)

      Jim, this is a great exercise, a business idea coming from a place of passion, now its easier to get up in the morning :)

      Look at apple, why can they go into any market and take over? there business comes from there theme

    2. Total Domination? OO wait that's Wal-mart.. Because Franchise must be having a feild day in this economy because they are all about real estate, buy buy buy….ahhhhh.

    1. That's why not everyone can be Bill or create total domination like Wal-mart.
      But you have shown right path here, one need to follow…….

    1. That's why not everyone can be Bill or create total domination like Wal-mart.
      But you have shown right path here, one need to follow…….

  3. Hahaha, a teletype?! If one of those would've really been in every home by the 70s, we would be well on our way to the plot of Terminator III by now.

  4. Hahaha, a teletype?! If one of those would've really been in every home by the 70s, we would be well on our way to the plot of Terminator III by now.

  5. Is the lady in the picture supposed to be contemplating a vision?

    A business vision must be linked to reality. It must be realizable; otherwise, it is futile. It has to be related to one's philosophy and outlook to life. If one has no such philosophy or outlook, what could they possibly do? Would they not be able to have a business?

    Best Wishes

    1. Business cannot succeed with VISION. A vision gives you a direction or goal…it could be simple or complex. But every business needs to know what its purpose is.

      Everybody has philosophies, they just may not know how to verbalise them. Most people have a vision when they decide to start a business, even though they may not be able to verbalise it nicely. However, i say to those people, VERBALISE it. Write it down in front of you. When you write something it forces you to make your idea concrete. In fact, you'll LEARN from yourself when you write.

      Try it. Try writing down your vision, even if you don't believe me. You have nothing to lose. And you'll see what i mean :-)

  6. Is the lady in the picture supposed to be contemplating a vision?

    A business vision must be linked to reality. It must be realizable; otherwise, it is futile. It has to be related to one's philosophy and outlook to life. If one has no such philosophy or outlook, what could they possibly do? Would they not be able to have a business?

    Best Wishes

    1. Business cannot succeed with VISION. A vision gives you a direction or goal…it could be simple or complex. But every business needs to know what its purpose is.

      Everybody has philosophies, they just may not know how to verbalise them. Most people have a vision when they decide to start a business, even though they may not be able to verbalise it nicely. However, i say to those people, VERBALISE it. Write it down in front of you. When you write something it forces you to make your idea concrete. In fact, you'll LEARN from yourself when you write.

      Try it. Try writing down your vision, even if you don't believe me. You have nothing to lose. And you'll see what i mean :-)

  7. You know I really like how the discovering a cool new business idea was mapped out. This will make things really easy for a lot of people. A very interesting way to look at it.

    I will certainly be spending some time on this myself. :-)

    Melisa

  8. You know I really like how the discovering a cool new business idea was mapped out. This will make things really easy for a lot of people. A very interesting way to look at it.

    I will certainly be spending some time on this myself. :-)

    Melisa

  9. This is a wonderful exercise, Jim. I completed a similar exercise in the past, but it didn't include the part that you have shared here, which helps one to draw from their current strengths and knowledge to shorten the learning curve. By doing this, I believe it will help to keep you on track and focused on the vision at all times.

    Love it.

    1. Ken understanding one's strengths and working WITH them instead of against them is one of the greatest life lessons i ever learned. one can only “adequate”, “average”, or “slightly above average” by working against their weaknesses….but when you focus on your strengths and emphasise them you overpower any shortcomings you have and speed ahead.

      an issue i see too often, particularly in Home Business is that everyone fancies themselves a Marketer when they are too shy to sell. A copywriter, when they have never been a writer. A video marketer when they are not naturally entertaining. We all make those mistakes, but EVERYONE has strengths of their own and if they identify them, they should focus on them!

  10. This is a wonderful exercise, Jim. I completed a similar exercise in the past, but it didn't include the part that you have shared here, which helps one to draw from their current strengths and knowledge to shorten the learning curve. By doing this, I believe it will help to keep you on track and focused on the vision at all times.

    Love it.

    1. Ken understanding one's strengths and working WITH them instead of against them is one of the greatest life lessons i ever learned. one can only "adequate", "average", or "slightly above average" by working against their weaknesses….but when you focus on your strengths and emphasise them you overpower any shortcomings you have and speed ahead.

      an issue i see too often, particularly in Home Business is that everyone fancies themselves a Marketer when they are too shy to sell. A copywriter, when they have never been a writer. A video marketer when they are not naturally entertaining. We all make those mistakes, but EVERYONE has strengths of their own and if they identify them, they should focus on them!

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