999 Small Business Ideas + Why Most New Business Ideas Are Worthless
I love hearing/thinking about/dreaming up new business ideas. Why? It’s fun and the payoff can be huge! Lots of hard work is involved of course but starting new businesses and new websites is something that is definitely enjoyable. I usually put up 3-5 new websites every week and I like to think of each website as it’s own individual business with its own market. From a domain name tools site to a website backup site to hundreds of other types of sites – it can be a lot of fun to think of new business ideas.
BUT…
Even the best idea is not worth a whole lot if you cannot execute. So before I give you a link to the list of 999 small business ideas I would challenge you to read this quote that I found here at the online version of the 37signals book: “Getting Real: Done! (Chapter 6)”. Here is the quote by Derek Sivers that I absolutely love in it’s entirety:
“It’s so funny when I hear people being so protective of ideas. (People who want me to sign an NDA to tell me the simplest idea.)
To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.
Explanation:
* Awful idea = -1
* Weak idea = 1
* So-so idea = 5
* Good idea = 10
* Great idea = 15
* Brilliant idea = 20
* No execution = $1
* Weak execution = $1000
* So-so execution = $10,000
* Good execution = $100,000
* Great execution = $1,000,000
* Brilliant execution = $10,000,000
To make a business, you need to multiply the two.
The most brilliant idea, with no execution, is worth $20. The most brilliant idea takes great execution to be worth $20,000,000.
That’s why I don’t want to hear people’s ideas. I’m not interested until I see their execution.”
Before you set out to start a business or even register a domain name with the intent to develop the domain into something meaningful ask yourself, “Am I really serious about executing on this plan or am I just wasting my time by thinking up ideas that I never have the nerve/discipline/work ethic/etc. to actually do something about?”
I would challenge you to spend less time dreaming up things to do and more time getting down to brass tacks and tackling your big ideas. If you fail then so what? Chalk it up as a learning experience and dare to attempt your next big project.
Of course, remember I said that I love thinking up new business ideas at the beginning of this post so please don’t get the impression that I believe that taking the time to think up good business ideas is a waste of time. It’s not – BUT it can be if you do not follow through and execute.
Here are a few action steps:
1) Read this list of 999 business ideas.
2) Choose some of the best business ideas from the list to refine as your own.
3) Use tools like our premium membership, business formation services from MyCorporation.com, etc. etc. to execute on those business ideas.
What do you think?
Similar Posts:
- Demand Media: Books They Read, Business Model, and Why You Should Care
- How Much Money Can You Make With $5 and 2 Hours?
- How to Find a Good Domain Name for a Business
- Are You Building a Blog or Building a Business? (and Does it Matter?)
- Ideas for Choosing Domain Names When You Have “Domain Name Block”
There are type of ideas ( Awful ideas ? ) where you require 1,000,000 units of effort (execution) to get $1,000,000.
There are another type of ideas ( Brilliant idea ? ) where you require 10 units of effort (execution) to get $1,000,000.
It is mostly later when people require you to sign NDA, because these ideas can be easily copied and executed (less effort to execute) with huge returns.