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You might get sidetracked from time to time with a job here or there. Give up for a while after a failure. Even retire for a bit after your rst major success. But you know your always going to be an entrepreneur. Whether your condence is waning or youre on top of the world. You already know your path.
Business is your life. When others say they have the guitar or play sport for their creative outlet. You say you have business to channel your creativity. Your business gives you that creative buzz. Only other entrepreneurs really understand it. You live your creative outlet. You think about solutions when others complain. You create when others seek inspiration. You take action while others talk. Youre the creator of your destiny.
Your ideas might not always be great or even original, but they are yours. All the hard work in implementation and the results that follow, they are denitely yours. You might not even know exactly what you want. But you do know you want the freedom to do what you want, when you want, without a second thought. All your hours of hard work and sacrice to help your clients and solve problems will lead to that reward. But only if you create your business with that in mind.
Youre an entrepreneur, so you ask yourself. What do I need to learn and do to build up my business?
You already know there is a lot of clutter out there. Books, videos, courses, webinars, podcasts and interviews. A lot of information thats not actionable. This guide is a preview of Blueprint Entrepreneur currently an iPad magazine in the iTunes store. The content is actionable and of high quality. This isnt a simple blog post done over the weekend or quick tips and tricks that arent thought out.
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This guide is specically real actionable content that is great for people just starting out and need some direction to nd a business idea to test and get started.
This guide is a great demonstration of our style in the Magazine. As we are focused on delivering for the smart hard working entrepreneur that is ready to take action, react to their mistakes and constantly improve. So read through this guide that has been painstakingly put together by Michael Alexis for you and test its value. Take action and get that immediate win of nding a decent business idea to test. You might not nd that killer idea straight away but if you take action and commit, you will be pleasantly surprised with the guidance we give.
With gratitude,
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Introduction
This guide is all about Idea Generation, the rst part of the Your Step By Step Guide To Business Launch from Blueprint Entrepreneur Magazine. This guide focuses exclusively on nding a business idea to test from issue one. Here youll learn techniques for generating near innite ideas and then how to rene those ideas using proven methods of exclusion to nd a few good ideas that you can further explore and test.
This is not THE guide. There is no one way to start a business. There are however principles that are proven to work, and the power is in understanding how they overlap and combine to form a viable business. Look at it this way. If we sat down to interview 100 successful entrepreneurs about their path, the result might be something like this: Entrepreneur #1 did A - B - C; Entrepreneur #2 did B - C - A; Entrepreneur #3 threw a Hail Mary and it paid off big time A - D - B - C
The permutations are innite. But still, there are proven techniques that work, and this actionable guide starts with how to nd a business idea that you can test.
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You shouldnt read this personal nance book if you already have too much money. This laundry soap probably isnt right for you if you take all your clothing to the drycleaner. You dont need this pickup artist video if you already get all the girls you want.
Here are a few that apply to this guide: We are for action takers - We know this guide wont be 100% relevant to you if youve already found your business idea and are further along. But if you look, you will nd something useful that will help you grow your business now. We are not a motivational magazine with lots of feel good stories. We are not helpful hints that are common sense but never implemented. We are not online strategy for the sake of following trends. We are not for the unmotivated. We are not for people that dont help their clients. We are not for people looking for a get rich quick scheme.
Who am I?
Alright, Who am I?. One of the biggest questions of all time, and Im going answer it in a short paragraph so we can get you to the good stuff. But it is important to establish credibility - the techniques in this article have either worked for me or entrepreneurs in my network. Im Michael Alexis. In 2010 I started my rst real business. It was a Groupon Clone called SaveRally. I got local businesses to offerexclusive deals to students at my college. I wasted a lot of time trying to appear as a big company, and in the already saturated market my business suffered. Still, it was protable from day one and I eventually sold the site for a great return. When I realized there was quicker money in ipping businesses, I started and sold another daily deal site in less than a month. Besides my own startup, Ive worked from the ground up on iPhone apps and opening a restaurant in Beijing, China. Ive also worked with entrepreneurs like Ramit Sethi of I Will Teach You To Be Rich and Andrew Warner of Mixergy - learning a tonne from the sophisticated way theyve grown their own businesses. But enough about me...
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IDEA FORMATION
Ground Zero: Bringing Your Seminal Idea Into Existence
The rst step in your business is idea generation - and unless youve already done some background work, this is our ground zero. The idea will evolve over time as we survey the target audience and consider their feedback, but it has to start from somewhere - otherwise how are you going to know who to survey? Everybody? Our expert on idea generation is James Altucher.
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Detailed steps on health practices are beyond the scope of this article. But you can learn more in the Idea Generation: Additional Resources section. Whatisimportant is James two-tier idea generation system.
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Examples: 1. 2. 3. 4. 5. Have a piece of chocolate Talk to a friend or colleague for 20 minutes Browse the web for 15 minutes Grab a coffee or smoothie Play an iPad game for 5 minutes.
Choose one you enjoy and remember to consistently reward yourself to build a very valuable habit. Don't just rely on trying harder - It's too hard. Especially if the daily tasks aren't obvious immediate wins for you. You need small wins on your journey of entrepreneurship. So give yourself those small rewards along your road to success.
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For example: There are subtleties of each list that allow you to ex different idea muscles. Naming 7 businesses that you could start for less than $25 demands a scarcity mindset, while 6 markets your employer is ignoring may help you identify markets where you already have expertise. Here are some tips for creating your own list of lists. Dont think too much about it. Just write whatever comes to mind, nobody is going to be like, hey, your ideas suck. Aim for variety. You may already know you want to start a software company, but making a list of 10 ways McDonalds could change its distribution model might just give you a surprising insight. Aim for volume. More the merrier. Write at the same time every day. Yeah, if a meeting went long and you missed 12 noon, write it late. But make this a priority. 10 businesses I could run from home 7 businesses that cost less than $25 to start 100 businesses that I dont want to do 5 new ways to make money from online video 3 industries that are ripe for disruption 8 businesses that are doing a crappy job of serving the market 10 products I could launch from Kickstarter 6 markets my employer is ignoring 12 businesses that start with the letter L 10 mini-businesses that I could launch in less than 48 hours 20 ideas for online shops 15 things my kids would denitely bug me to buy for them
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Never miss a day. Avoid cheat creep. You know, when you skip your workout one day, and then it is harder to do the next day. Commit to making your lists every day. Team up. No need to do this alone. You and a friend can write and share lists double your stock of lists with just a little extra effort. You dont need special equipment. Moleskins are awesome... James uses waiter pads. Reward yourself.Giving yourself a small reward each time you nish helps to form a great habit. Remember this is a process. You will get better at list making over time.
Okay - start now. Copy out the template on the Action Step over the next page anddo not go to the next step until you have created your rst list of lists.
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Date:
Remember: a. Dont think (worry) too much about it b. Aim for variety c. Aim for volume d. Write at the same time every day e. Never miss a day f. Team up if you want g. No need for special equipment h. Remember this is a process and you will improve i. Give yourself a small reward once your done
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Activity 1: Create a list of broad categories that will break into specic business ideas. Lists of Lists:" " Broad Categories
1. 10 businesses that I could launch in less than 48 hours 2. 10 businesses I could run from home 3. 7 businesses that cost less than $25 to start 4. 15 businesses that I dont want to do 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.
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20 ideas for online shops 1. 2. 3. 4. 5. 6. 7. 8. 9. wool socks innity scarfs self-charging luminant house numbers iPad backpack gluten free fortune cookies abandoned pets historical antiques refurbished rocking chairs watches for geeks
10. wooden cufinks 11. his & hers wristbands that get warmer the further you are apart 12. parent & child wristbands that beep when they are separated by 10 metres or more 13. only beach toys 14. only beach toys 15. how to throw a boomerang ebook & boomerangs 16. custom fake tattoos 17. recipe and ingredients delivery 18. cardboard furniture 19. sublimated table cloths 20. re-usable stick on back covers for iphone
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As well as the tips for creating better lists of lists, there are a few ways to improve your second step lists. Persevere. You probably arent going to come up with THE idea on the rst try. Its okay to be bad. Some of my bullet points above are viable business ideas, while others arent (it may actually be illegal in your jurisdiction to sell abandoned pets online, though apparently you CAN sell monkey blood). Use Variance Technique to breakthrough idea-block and create killer lists.
Variance Technique (the shortcut to better ideas) If I have seen further it is by standing on the shoulders of giants. -- Sir Isaac Newton, the dude that discovered the Laws of Gravity
If you have trouble generating business ideas, then Variance Technique may unstuck you. Its simple: 1. 2. Find a business model that is working Hack it. Here are examples of the Variance Technique in action: Flip the page for your next Action Step. The Wii was gaming for non-gamers. My site, SaveRally, was Groupon for students. In Season 6, Episode 18 of Seinfeld, The Doorman, Kramer creates a bra for men, the bro. Cross two or more to create something new. Change the delivery method. Target a new market.
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Activity 2: Start lling in your list categories with business ideas. List 1." " 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. List 2." " 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 10 businesses I could run from home: 10 businesses that I could launch in less than 48 hours
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List 3." " 1. 2. 3. 4. 5. 6. 7. List 4." " 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.
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Apply Filters: Scarce Resources Know your limit, play within it -- the Ontario Lottery and Gaming Corporation
We all face scarcity when starting our business. You may lack knowledge, time, money, or interest. Moving your business from idea to product to sales demands that you make an honest assessment of your resources. But its not do I have enough knowledge to start this business?, its can I acquire enough knowledge to start this business and is it worth the effort? Similar approach for money and interest. Time segments into two parts. Do I have enough time on a daily basis? and Can I commit to this for the required period of time? Where possible use objective measures. If you have a track record of moving on from a project after a few months, aim to start a business that ts that timeline.
Activity 3: Start to apply lters to your ideas. Filters:" Goal: " " Time: " " How much time will I commit to this business idea? Can I commit to this for the required period of time? What is my goal in business? Does this lead to the lifestyle I want? Objective Measures
Resources: " " " Can I acquire enough knowledge to start this business? Is it worth the effort? Do I have enough time on a daily basis? Do I have the technical skills to deliver a great product/service? Business Idea Meets Goal? (Yes! 1 - No 0) 1 Time? (Easy 5 - Hard 1) 3 Resources? (Easy 5 - Hard 1) 4 Score
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If your ready to go further with your idea and check out the next step of Niching Down check out the iPad Magazine Here.
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LINKE
to continue the hard work.
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