Are You Innovative?

[entrepreneur86]

Let me preface this post with a note. I am completely impartial to how people choose to make a living. I am just reporting on a trend I have noticed recently (on this site and in general).

I've been doing a lot of reading on the YE forums over the past few weeks, and I see a recurring theme in the types of businesses MANY (not all, maybe not even a majority, but a huge amount) people have been choosing to launch. Tons of people are starting proxy sites monetized by adsense links, and blogs monetized by text-link-ads. I do not believe that these ideas are innovative or sustainable. Sure, you may make $20 on a good day, but where's the growth? Where's the fun in such a business? And how is that in any way innovative? So many people are doing this, and I just see such fierce competition in the online advertising/domain squatting industry, that I don't understand why ANYONE would choose to start such a business now. Everyone wants the dream of 'passive' online income, but I wouldn't even call it an income when you're making $6 or even $60 a day. Where's the upside there anyway?

I really think that everyone on these forums needs to understand that businesses need to be innovative, and have a sustainable competitive advantage to compete in the long-run. I would even argue that selling things on eBay is a trite business to have, as you're really at the mercy of a 6,000 pound gorilla when it comes to your account and fees (as we saw this week). Let me note that I do see eBay as a good starting point for beginners.

Create an innovative product, deliver a superior and/or unique service, but, for your own good, don't just start a bunch of websites and hope that people click your ads. Sure, it may be easy, but it's so short-sighted, and is not really sustainable.

I know that there are syntax, grammar, etc... errors on here, I'm not normally a verbose poster, but I thought that this would be valuable for the community. Take it with a grain on salt, but it's my honest opinion.

[Sam Barona]

NICE! I tried to cover this topic before:

Online advertising: what lies ahead?

I might as well have said that Jesus had just parachuted in my garden just a few minutes ago.

Those active in these areas are not fully fledged entrepreneurs and form a band of self dellusion that defeats reason.

Having said this, its good practice, I guess. Although I do believe that there are probably too many good minds wasting valuable hours following a crowd of blind lemmings in them there ventures.

Apparently, its a more common phenomenon than most think. When the Gold Rush days of yore where coming to an end, the laggards that arrived too late still bought shovels, spent their last savings on useless patches of land and prospected away their last hopes for little, if not return at all. Yes, there where very few that still found substantial gold, but this only helped fuel the hopes of the laggards hwo had no chance at all. Meanwhile, those selling shovels still made a killing.

A similar phenomenon can be observed in the financial markets, and even in the property markets. Laggards still try to make money long after the money has gone and, innevitably end up losing.

Funnily enough, the name given to this type of phenomenon in the markets is: a "Fools Rally"

Dont expect many friends over this thread. The views are already entrenched. I hope you have better luck than I did.

Sam

[The Stealthy One]

Awesome post! One reason I've decided to focus only on my free Web hosting site is because it's what's fun for me. I think many people (myself included) are always looking to get the most money in the fastest way possible, but after two-and-a-half years, I've realized ---- why not wait a little longer, and make all that money doing something you love?

Excellent post. I've stickied it!

[onecorp]

I agree with you entrepreneur86,

I would like to add that some people might start off with proxy sites, blogs, ect. as a way to test the waters or build income for bigger projects. I started off by developing websites for local small companies so that I could raise money to launch my big idea, Underground Media. It will be a while before the company can support itself so I have to continue developing websites for now.

By the way, I just completed a major update to Underground Media and started a thread requesting feedback. You can visit the site here. Let me know what you think. Thanks.

[entrepreneur86]

Thanks guys, glad I'm not alone in my thinking

[labrat]

I agree with you entrepreneur86,

I would like to add that some people might start off with proxy sites, blogs, ect. as a way to test the waters or build income for bigger projects. I started off by developing websites for local small companies so that I could raise money to launch my big idea, Underground Media. It will be a while before the company can support itself so I have to continue developing websites for now.

By the way, I just completed a major update to Underground Media and started a thread requesting feedback. You can visit the site here. Let me know what you think. Thanks.

Agreed. I have ventured into the adsense/content generation game as an experiment really. There is so much hype about this domain that I thought I'd get my feet wet. If I make a buck or two, great. If not, I have learned valuable lessons about SEO, and web marketing that will undoubtedly be useful to me, or customers of mine in the future.

[MojaCity]

I agree with all of you. The thing that I have found starting my own business is that sometimes you don't alaways follow the route that you traced for your self when you starting. And venturing off the road is what makes running a business fun. However, unless you start with an innovative idea, something that most people aren't doing you will not see the oppurtunity to run off the road and take a different way.

I guess some people like the to have their safety though. And maybe thats what those blogging sites are all about. Yea ok you might only make $20 a day but if you have 10 or 15 sites you can actually live off of them.

Anyhow, I strongly agree with you entrepreneur86. Which is why I started my company specializing in Toronto apartment rental and Toronto Night Clubs.

I plane on moving the site across Canada and hopefully in the states too. We make our money off landlords posting apartment. The e-coomerce part is being implemented right now which is ahy we are waiting to push the site on a national level.

Cheers everyone!

[Sam Barona]

INNOVATION: You dont have to be innovative to be successful; success is a highly subjective topic; so, it really depends on what level of achievement you classify as "successful".

What is certain, is that most of those globally successful companies that have entered the market in teh last decade, have done so through some type of innovation; not cecessarily in terms of inventions (that is not what innovation is), but in terms of innovative packaging (IKEA); innovative marketing (Ben & Jerry's), etc.

Innovation is simply a key driver, but not a percursor of success.

Sam

[MojaCity]

I truly think that the most important thing is that you enjoy what you do and you have fun running your business no matter what you do and no matter what your size is.

[Satch]

I agree largely with what you are saying entrepreneur86. However the forum is called 'Young Entrepreneur', so most people on here will be young and learning (often steep learning). So I understand why many have done what you talk about - proxy sites etc. They will learn soon that it isnt fun or successful owning them!

And its cool that you are trying to highlight it to people.

Also, Sam Barona I would be careful with comments like:

Those active in these areas are not fully fledged entrepreneurs and form a band of self dellusion that defeats reason.

The members make the forum so I wouldnt want to scare too many people off! They may take it the wrong way!

Great post by the way! Regards. Satch.

[Envydia]

Great post. I am launching my business because that is what my passion is. I don't care how long it takes to grow as long ass I can accomplish what my passion is.

[vishenda]

INNOVATION: You dont have to be innovative to be successful; success is a highly subjective topic; so, it really depends on what level of achievement you classify as "successful".

What is certain, is that most of those globally successful companies that have entered the market in teh last decade, have done so through some type of innovation; not cecessarily in terms of inventions (that is not what innovation is), but in terms of innovative packaging (IKEA); innovative marketing (Ben & Jerry's), etc.

Innovation is simply a key driver, but not a percursor of success.

Sam

you hit it!

[LightHouse]

The members make the forum so I wouldnt want to scare too many people off! They may take it the wrong way!

not to be short of an optomist, but i sincerly hope they do leave. If they spend more time thinking about wether or not something here is said in a way they done like. maybe... just maybe they will leave.... and start working on building whatever it is they are trying to acheive. you accomplish two things with that 1.) you get the people out of here that dont think out side the box and with wise advice, dont even care to. and 2.) you get those people off the negetive attitude track and out into the real world acctualyl accomplishing something.

this only happens in a perfect world however.... haha

[ixtravel.com]

Thanks entrepreneur86,
You remind me to remember of 1 book I read before: Rich Dad Poor Dad of Robert Kyiosaki:

The business contain B-I triangle:
- The outer contains of 3 section: mission, leader, management team
- The inner:
+ Product
+ Legal
+ System
+ Communication
+ Cashflow.

In each section, you will face the obstacles. You will have to be innovative, creative to pass them.
Business is not only product. It is somewhat more than that.

The direction is the MISSION. What you will do to make the world better! Then you will know what to innovate!
Thanks, men! Really appreciate it!

[Robben_Salter]

Gotta love the rich dad stuff...

Robert is a brilliant marketer