Buying Business Ideas

[Liybpg]

I am thinking about new, very experimental project and I need your opinions about the end product of this venture.

Basically, what I am planning is a process of generating business ideas. As I see it, there are two types of innovation: 1) people know they want it (e.g. they may want a dry cleaning shop in certain area), 2) people don't know they want it (e.g. iPhone I guess is a good example). This time, we will be focusing on 1st type of innovation - mostly in the area of closing the gaps and improving existing processes, not necessarily radical innovation (maybe that too, who knows).

Basically, what I wanted to know. If there was a database of business ideas like that, would you be interested in paying for it? Would prefer a paid membership structure? How much would you be prepared to pay for this?

In terms of quality of ideas. I suspect most of them will be on idea level (i.e. in need for proper research) and realistically, they will not fit all every time (I guess 1 good, suitable idea once every 2-3 months can be good enough).

I know its vague as it this projects is at its very beginning, so any thoughts will be appreciated.

 

[Morraine]

I don't think people not coming up with business idea is a problem its the acting upon them which is the problem.

Most people come up with ideas all the time. every time your doing some thing and you think "i wish this was a bit better or they should do that" is a lot of the time viable business idea if it was acted upon and executed properly.

Just my 2 pence worth and no i wouldn't buy business ideas. I have more to last 5 life times and im 32 years old and have still not hit my creative peak.

 

[BusinessIdeas]

I have started thinking up business ideas and offering them for free on my home page: www.businessideasandopportunities.co.uk I dont think that people will pay for business ideas unfortunately. - Gina

 

[Liybpg]

So if, say, for £59.99 per year (random sum) you had an access to a database of business ideas which were not randomly thought by someone, but were based on actual opinions of consumers, you will not be interested? (I guess, at least basic research would add to the selling point)

crewgirl25a,

Maybe I'm not looking right, but there are only a couple of quite basic business ideas on your website. I'm not planning to do the same thing and then charge people for it

 

[Faith28]

Business ideas are free and out there... although I'm sure it's just in the packaging and how you sell your 'idea' that will work.

People buy into anything if it's sold well to them.

I personally don't think it's a good idea to charge someone for a business idea, as someone mentioned - it's in the execution of the business that adds value.

 

[LicensedToTrade]

It is a good idea (no pun intended) but as others have said, simply offering ideas will not be enough to make people part with cash to get hold of something they can already get for free.

What you could think about is how you can add-value to these ideas. Instead of a database that says for example: 1. Milkman, 2. Dry-Cleaning, 3. Window Cleaner, 4. Fish & Chip shop... etc.

You could offer research documents along side this and guidance documents on the actions that need to be carried out to make this a success. I am not talking about full-blown AMA reports, just a comprehensive 'how-to' document tailored to that particular idea.

Ideas alone won't sell, but telling people how to make the idea a success from start to finish just might.

Keep us updated with your progress!

 

[Liybpg]

Thanks guys.

I think my example of dry cleaning was misleading. The purpose is definitely NOT to create a database of simple 'ideas' like dry-cleaning, fish and chip shop etc.

Basically, how it is going to work is I am going to find out what people are missing in their lives (can't tell you yet how) and then I will get students to work on those problems that people face to identify business ideas. It will include brainstorming, basic research, development of the idea.

So as an end product, what I am planning to have is an business idea (many of them) which will be innovative and that are actually real gaps in the market. Some may be very simple such as "there is a need for a dry cleaner in area of NG4 3HM, Nottingham" (these will add relatively low value to the project) and there will be more innovative ideas like producing a saucepan with a little thing on the side (whatever it's called) to make it easier to take out the water (http://s7v1.scene7.com/is/image/JohnLewis/000014021?$product$ - like on this picture). The latter type of ideas will add more value as they are innovative and are not yet on the market (well, the saucepan is on the market, just imagine if it wasn't and this idea was proposed on my website).

More real example is a problem that I have identified - people carrying heavy bags from supermarkets. As this problem was identified, I will pass it on to students, who will work on this and produce a solution for this problem, which will then be posted on the website for all members to see and take advantage of, if they wish.

 

[BusinessIdeas]

I think your main problem is going to be in how to 'sell' this without giving too much information away for nothing. No-one is going to buy a 'pig in a poke' so to speak.
The ideas that we look at on my [urlno="http://www.businessideasandopportunities.co.uk"]business ideas and opportunities forum[/urlno] (inside as well as just on the front page, if thats where you looked) for free, are all things that we - either have experience of,- or have very good reasons for believing will work.
We then encourage our members to discuss these at length to see if there are any holes in ideas for the execution of these business models.
These day its all about giving access to things for free to attract visitors and then finding ways to monetise sites.

 

[Liybpg]

I think your main problem is going to be in how to 'sell' this without giving too much information away for nothing. No-one is going to buy a 'pig in a poke' so to speak.

That's why subscription system will work better than say 'pay as you go'

May I ask, do you make any money on this website?

I know I can probably make a good community website out of it. But it will be nice if I could make this into a business itself.

I can keep those ideas to myself, but I think if I will have 5 good ideas per week, there's no way I can handle even 2% of those ideas myself.

 

[BusinessIdeas]

No I dont make any money from my forum site, the only way to make money from it directly would be to put ads on it, and I wont do that.
I still dont see how you are going to get people to part with their hard earned cash without giving people enough of a taste of your business ideas, without giving the whole game away

 

[Liybpg]

What if I invite say 50 UKBF active members to the site for free who will test the service. If it works - great, they can give testimonials, success stories etc. which will attract new members. If it doesn't work - well, good thing we didn't make anybody pay for it.

 

[BusinessIdeas]

Worth a try we dont get anywhere without trying - Gina

 

[Successful Selling]

I think most of you are forgetting one massive factor. This is the word "successful business".

In the last 10 years plenty of pubs in our local area (which did really good food) changed owners and went down hill. Visa-versa, some of the pubs which were rubbish 10 years ago, are really popular now.

The idea of doing the market research for someone who can then come in and make a go of a business is massive. The idea of doing the market research for someone who can then come in and make a successful business is completely different.

I feel you would have more success if you chose a particular sector and became a mentor to new or exsisting businesses within that sector.

Then, you are not just introducing people to new opportunities, you are guiding them throught the start up process and helping them develop into a substainable business.

 

[Liybpg]

Successful Selling,

I agree that execution is crucially important. However the basis for the business (business idea) also needs to be very good to work. I am not an experienced businessman (very far from it), so there's no way I can be a mentor. There are quite a lot of mentors and I think they are doing a great job. There isn't, however a place to get good business ideas.

Obviously some people can think of many good ideas themselves (I think I am one of them), however I see a lot of people who want to start a business, but they don't have any ideas or they come up with very weak ideas. It doesn't mean that they cant run a business. They may be just not very creative which is fine, as creativity is a very tough job.

I really believe there is a market for people who are capable of establishing and running a business but lack ideas. Its not everyone, but I think there must be some.

 

[sticker printing]

Every time you come up with a new business idea, there are chances that it might be flopped. A person who has a bee in his mind about starting a new business also takes the risk factor into account very seriously. No one will pay for a thing which gives him a feeling of wavering idea. So working on it is like flogging a dead horse.

If you don't agree with my views let me tell about it. I'll appreciate any argument from your side.

 

[Liybpg]

sticker printing,

That is a problem I think. But I don't see a good way around it. Nobody will buy if they don't know what they are buying (e.g. pay as you go), but if we adopt subscription system then every idea will be available to everyone.

On the other hand, there are no businesses without a competition. And if the club is more or less exclusive say, if we have 500-1000 members, people won't be that worried that business idea will be stolen as obviously not all ideas will fit all people, so if an idea would be something to do with cars, it would only potentially interest probably 20-30% of people.

Any thoughts of this will be appreciated

 

[Faith28]

I've got a lot of business ideas for card games...naturally .

But along with every idea there are business contacts, ways to get into market, named people within targetted departments, methods with networking in the right circles, ways to sell into the market.

The question is would people actually be interested in purchasing this sort of information. I guess that's how you have to test it.

 

[LicensedToTrade]

I am not an experienced businessman (very far from it), so there's no way I can be a mentor.

Unfortunately for me this is the final nail in the coffin. Anyone with any sense would steer clear of taking business advice or even just ideas from someone who has not yet proved themselves. On the flip side... there are a lot of people who do not have any sense so it might still be viable...but the morality would be questionable.

I have absolutely zero experience as a dentist and for that reason you won't see my advising my paying customers on how to best resolve plaque issues.

 

[Investors-Wanted]

It great having an idea, its a big difference in having the skills and knowledge to get it off the ground.

One of the major downside to this idea is, if a business fails after you have promoted it as a business that would work. COuld they take you to court for the product not fit for purpose.

This has so many minefields, selling access to business ideas.

 

[Liybpg]

I am not claiming that I will provide expertise knowledge on any of the business (if it was the case, the price would be far higher that 50 quid a year). It is up to the people themselves to decide whether they want to research it further or not look into it at all.

They can't take me to court, as it is not a professional advice. It is not even an advice but just an idea identified by us, which may or may not work - its up to the person to decide whether they've got enough capabilities, knowledge or connections to take the idea further.

The charge is very low in terms of any business. I think it that for this sort of money, providing access to database of ideas will be good enough. Will it not?

 

[ally_1988]

So let me get this right, your planning on starting a website that people pay a yearly membership too, detailing potential business ideas that you have rejected?

Lets be totally honest, if you actually came up with a great idea that had a chance of becoming a huge and successful business, your not going to be putting it on your site are you? So people are basically signing up for your cast off's, some of which may actually be viable, and some that would would totally flop.

You would also have to be insured to the hilt as you are on the border of offering advice if you are providing research into possible business ideas.

I hate to put a downer on things, but I don't think it has any legs at all as an idea, possibly one you should reject? lol

 

[Investors-Wanted]

I am not claiming that I will provide expertise knowledge on any of the business (if it was the case, the price would be far higher that 50 quid a year). It is up to the people themselves to decide whether they want to research it further or not look into it at all.

They can't take me to court, as it is not a professional advice. It is not even an advice but just an idea identified by us, which may or may not work - its up to the person to decide whether they've got enough capabilities, knowledge or connections to take the idea further.

The charge is very low in terms of any business. I think it that for this sort of money, providing access to database of ideas will be good enough. Will it not?

So you will be selling a membership to business ideas that you have not looked into, with no guarantees for only £50. Where do I sign up.

Do yourself a favour, and look for a website that offers good ideas. You need it!!!!

 

[Liybpg]

So, no supporters?
Everybody has enough business ideas and thinks that £50 is too much for that?

As I have said, not all people have capabilities or resources to take all business ideas. I am that person too. If I have ideas of which I can't take advantage, it doesn't mean that they are rubbish and are just rejects. If the mechanism of generating ideas is successful, we may get say 5 good ideas per week. There's no way I can myself take advantage of all of them. And there is a mechanism for generating ideas, its not just me sitting with a notebook and writing down my thoughts.

 

[Investors-Wanted]

So, no supporters?
Everybody has enough business ideas and thinks that £50 is too much for that?

Not really when there is a really good site out there already which offers this for £0.00. IF you do have any other good ideas, why dont you promote them on this site which was mentioned in this post and see if anyone runs with it.

 

[GillespieBS]

There are already some good websites available regarding trend spotting and new business ideas that are emerging. Springwise is a good one:

http://springwise.com/

I'm not quite sure who would pay for continual ideas. Serial entrepreneurs seem to come up with ideas all on their own.

 

[Liybpg]

Not really when there is a really good site out there already which offers this for £0.00. IF you do have any other good ideas, why dont you promote them on this site which was mentioned in this post and see if anyone runs with it.

How many good ideas are listed on that website? I didn't see many if any to be honest

 

[Liybpg]

There are already some good websites available regarding trend spotting and new business ideas that are emerging. Springwise is a good one:

http://springwise.com/

I'm not quite sure who would pay for continual ideas. Serial entrepreneurs seem to come up with ideas all on their own.

I know this website, its not that useful but good anyway.

It seems like I need some other model for generating income.

 

[Investors-Wanted]

How many do you have and who have said they are good.

 

[Liybpg]

How many do you have and who have said they are good.

Well, I'm not selling anything yet. I am only thinking through the process on generating ideas and employing them somehow.

 

[patientlady]

Well, I'm not selling anything yet. I am only thinking through the process on generating ideas and employing them somehow.

The website may have more cache if you had an example of one of your 'ideas' which had been turned into gold. ie if your idea and how 'to produce it' was the Dyson I would more likely pay £50.00. I have had over the years many ideas, in fact so many that I have forgotten. As someone said earlier, the ideas are easy its getting on with it thats the problem!

 

[Liybpg]

The website may have more cache if you had an example of one of your 'ideas' which had been turned into gold. ie if your idea and how 'to produce it' was the Dyson I would more likely pay £50.00. I have had over the years many ideas, in fact so many that I have forgotten. As someone said earlier, the ideas are easy its getting on with it thats the problem!

I agree, for some people it is a problem to get on with ideas, not to think of them.
There might be people who would like some new ideas and would be willing to have an access to database of those ideas. Maybe one of them will be the one for them, maybe some ideas will signal to the ways of improving an existing business.

If I adopt this model, I definitely will not charge people straight away. I will, as I said, take some trial (free) members who will give feedback and give testimonials if the experience was positive. If the experience is negative and it is not worth the money, then I won't start charging people for it.

 

[Searcher]

This is a ridiculous idea, and for that reason I'm out.

So your plan is basically go through Yellow Pages, for example, list every type of business you can copy, plus chuck in a few new ideas yourself and then charge people for this ?

........... this idea WILL NOT WORK. Stop wasting your time on it, fetch out that old copy of Yellow Pages and read through the index until inspiration for a new idea hits you !

 

[cjd]

Forget it, no-one will pay you £50 just in case you have a good idea.

(Ideas are utterly worthless - any half decent business person has 5 per day)

 

[Liybpg]

I guess nobody here understands what I mean. Never realised that there was no shortage of business ideas. Seems like everyone's sorted and has millions of ideas on their own

 

[cjd]

I guess nobody here understands what I mean.

Or that you have a bad business idea

Never realised that there was no shortage of business ideas. Seems like everyone's sorted and has millions of ideas on their own

It's a very, very, common mistake to make - you wouldn't believe the number of people who come here all terribly excited about their 'idea'. All they need is, money, people, hardware, marketing, expertise, business nouse, a plan etc etc.

It's all bullsh1t. The idea is the very least of your worries.

Have you ever wondered why there are thousands of pubs and restaurants in any big town or city but very few that are any good? It's not for want of an idea, it's because 99% of their owners didn't have an but an idea

 

[Liybpg]

Well, I think that pub is rubbish business idea. If the idea was better, maybe the platform for development was better. I'm not saying that idea is the most important thing and you don't need anything else. Sure you do, but there are people who provide help for that, but there are no people who provide business ideas (they can help you decide whether it will work or not). I am not trying to make people better businessmen, I am trying to give ideas to those who can be (or are) businessmen, but may lack ideas.

Either way, it doesn't have to be a business. I want to create this platform regardless of whether it makes money

 

[estwig]

In the spirit of the internet and to try and help a new entrepreneur get up and running.

I have a business idea, you can have for free to sell on your new website...........


<drum roll please> here !!!!!!!!!!

 

[Tej]

Either way, it doesn't have to be a business. I want to create this platform regardless of whether it makes money

Go for it...

www.clueless_gullible_business_wannabees.com

Could be a suitable name for a website?

HTH

 

[Liybpg]

In the spirit of the internet and to try and help a new entrepreneur get up and running.

I have a business idea, you can have for free to sell on your new website...........


<drum roll please> here !!!!!!!!!!

=))) nice one

 

[cjd]

Either way, it doesn't have to be a business. I want to create this platform regardless of whether it makes money

Now that's a better idea altogether, just don't expect too much