It isn’t the thousands of ideas that pop up into the minds of humans around the globe that make money. Very few ideas are worth the time it took to have the thought. Most ideas are fleeting “sparks” that go no where and are forgotten almost immediately. Of the ideas that are good, very few are followed up and ever end up as a worthwhile business. Most people are just not oriented to do anything about their ideas, while others believe it would take too much of their time and money to follow them through to completion.
This leaves the market place wide open for the person who learns how to “create” profitable ideas!
There are three methods you can use to create profitable idea:
- Find something that already exists, the presence of which has never been known before.x
- Invent something. Most inventions are merely new arrangements of things that have already been invented.
- Alter or improve in any number of different ways something that already exists.
As you “create” ideas, write them down. What you dream up can be your key to great wealth. Keep your mind “open” as you go through each day. What did you notice in the department store that would reduce costs, save money or increase sales if some simple procedure were added or something changed?
Ideas for improvements are one of the most valuable things you can contribute to society and at the same time add to your bank account. To create ideas for improvements, consider every possibility and alternative for the thing you want to improve.
Learn to create ideas by evaluating all the different aspects of the product, method or concept you are interested in. Put your imagination and subconscious to work and write down your thoughts pertaining to each of the things you expect to improve. Use the list below as your guide for creating money-making improvements.
List the things you want to improve:
- Why should it be improved?
- Who will benefit from the improvement?
- What is wrong with it at the present time?
- Did someone else cause a problem with it?
- How do you propose to improve it?
- Do you have the facilities to do the work required?
- Do you have the know-how to do the work required to improve it?
- Exactly what part needs to be improved?
- Should it be smaller? Larger?
- Should the color be different?
- Would more activity help make it better?
- Could it be combined with something else to make it more practical?
- Would a different basic material work better?
- Is it too complicated, could it be simplified?
- Would a substitute be more meaningful?
- Is it priced too high?
- Would a change in personnel help the situation?
- Can the shape be changed to advantage?
- Can a new marketing plan make the difference?
- Is it safe?
- Can it be mass produced to bring the unit cost down?
- Should the appearance be changed… streamlined?
- Is there an adequate guarantee?
- What can make it appeal to a bigger audience?
- Would new packaging or trade name enhance it?
- Can it be made heavier, lighter, higher or lower?
- Can it be franchised?
- Is there a good maintenance program to back it up?
- Can financing be simplified?
- List ways to increase production:
- List ways to increase sales:
- List ways to reduce costs:
- List ways to increase efficiency:
- List ways to improve quality and increase profits!
- What can be done with it to satisfy more people?
This list will start the ideas “sparking” and as related ideas come to mind write them down in every variation you can think of. Do not judge the good or bad points of the ideas as they materialize out of you, just write them down. Review them later. You will stop the flow of ideas if you are critical of your thoughts before you put them on paper. When you have answered everything you can about the product or concept and know how it fits in with your plans, sit down and evaluate all the details you have written.
After you have found (created) a good idea, follow it up and then act! Get it moving. Expose it to the world with sufficient tests to determine the value!
If your idea fails, so what; you are just that much closer to finalizing another one, then another until a useful more valuable idea is born. Every manufacturing plant, retailer, attorney, accountant; every business person, large or small, cannot continue to operate in the competitive world of today without someone in the organization constantly coming up with new and better ideas!
Old ideas drop by the wayside as new ideas take their place. Old companies without new ideas fade away.
Those who learn and know how to create ideas and anticipate the changes needed, as the future evolves, have the opportunity to be a great success with big money-making potential!
In summary, learn to develop ideas from observing everyday things and details. Think of what could make something better. Dwell on things that have a large marketing audience, something that everyone needs and wants. Write your ideas down. Put a pencil and pad at your night stand. When you remember a good dream. don’t just lay there, by morning you will forget it. Jot it down on the pad. You will be surprised what you can dream up! Maybe the million dollar idea will magically appear on your pad tomorrow morning!