Comments on: How Great Ideas Make Successful Businesses

By: Leon Doyle

Leon Doyle — Wed, 02 Jun 2010 09:45:45 +0000

i have watched several businesses that simply mimic a current business model fail within 6 months. I agree that great ideas, or even unique ideas drive the success of a new business. Several reasons behind this could be down to the support you get when starting out. I started out with the help of Business Link, who gave me £1000 towards PR, Web Design, Media coverage etc. after winning several awards and being nominated for new business of the year, i credit most of the success to the uniqueness and the likeability of the product i was selling

By: JohnYE

JohnYE — Fri, 23 Apr 2010 15:59:45 +0000

@Elle We’d be honored. Please let me know when it’s up via email: john [at] youngentrepreneur.com

Thanks!
John

By: Elle

Elle — Fri, 23 Apr 2010 13:36:48 +0000

This is a very interesting article, and although it would seem obvious that good ideas are needed to create a success, you have pointed out that this is not enough; the ideas need to be dynamic and relevant to the business climate. I would love to refer to this article in my blog, http://www.globalknights.biz/, with full accreditation…

By: Rags to Wreckages

Rags to Wreckages — Tue, 06 Apr 2010 10:25:13 +0000

Really like the post One of the things we’ve learned is that successful entrepreneurs also need to be able to learn from their mistakes and this also means knowing when to quit.

By: Tim Andren

Tim Andren — Wed, 24 Mar 2010 18:33:05 +0000

That’s so important Tony. Perhaps I wasn’t clear enough in stating that here because I made it sound like it only would happen after an internal answer.

“…procure some market research, conduct a focus group or create social communities to receive customer feedback.”

You’re right…it has to happen in the nascent stages in order to know test the validity of the idea itself. My post didn’t state that. Funny, since it’s usually my number one piece of advice!

By: Tony

Tony — Wed, 24 Mar 2010 09:21:06 +0000

Point of correction Tim. Being an entrepreneur, i stand to say that an idea must first get to the marketplace before it is considered great or not. It is the market that determines if a product is great, not the entrepreneur. I have seen some stupid ideas that turned out to be great ideas simply because the market loved it.

By: Tim Andren

Tim Andren — Wed, 24 Mar 2010 08:45:21 +0000

@Doug It gives you all the more incentive to start your own business. Your best ideas come from your own natural pursuits or possibly the ‘necessity is the mother of invention’ situation that many businesses are having to operate under in today’s economy.

By: Tim Andren

Tim Andren — Wed, 24 Mar 2010 08:41:59 +0000

Prototyping is a good idea Rahul. Sometimes it’s not always possible depending on the nature of the product. Service-based offerings can be tested by Google ads. The results provide you real-time customer click response. Versioning is important here too.

By: Doug

Doug — Tue, 23 Mar 2010 15:07:27 +0000

What I have experienced in the corporate arena is managers that are for lack of a better term greedy for a buck. Managers want you to develop new ideas and continue to create advanced strategies that the company will gain recognition for, I know that is business. Good managers hire creative employees to make them look good, the downfall to this is if you can not develop ideas for the good of the company, many times you are relieved of your duties.

By: Rahul Ingle

Rahul Ingle — Tue, 23 Mar 2010 05:58:02 +0000

It is really difficult to think that my idea is not a innovative one. I think this should be left to the consumer of you product. As Steve Jobs says, “People dont want it until u show it to them what they need”.

I think the best thing would be to make a prototype of your product and float it in the market to test it for sometime. I think your consumers are the best people who can tell you whether your product or idea is innovative or not.