Posted by: Debt Relief : Category: 
by natashalcd
One of the biggest struggles I had in starting my business was actually coming up with the idea. I wanted something that was scalable as well as needed in our society. I combed through hundreds of ideas before settling on my current venture. Through this discovery period, I uncovered what I believe are the five most important concepts in determining what makes the perfect business idea.
So, what is a perfect idea? Each individual entrepreneur has their concept of the perfect business. While Google is a great business for the founders of that company – it may not be a great business for others that are non-tech savvy or who do not want to run such a large organization.
Therefore, each perfect business is defined by the business owners. Keeping this in mind, let’s start on my five concepts of finding the perfect business:
Number One – Understanding your customer: This might seem strange to start here as how do you know your customers before you have a business idea in place. The answer is simple – your customers make the business, therefore without customers there is no business. If you have a business idea don’t try to develop the idea around what YOU think potential customers will like or need, but find out what your customers actually desire. Too often business owners get an idea in their head and jump right in with both feet. However, they soon find out that their target market does not want what they are offering. Spending both time and money on a project just to see it languish is not the perfect business idea.
Moreover, let’s say you don’t already have an idea – getting out and understand consumers (those who will eventually become your customers) may lead you to the perfect idea. Knowing what potential consumers need and building products to meets those needs will get customers beating a path to your door – that is a perfect business idea.
Number Two – Passion: Passion here does not mean being fanatical about your product or service. But, it does mean having some interest in what you do. More times than not, you will be spending 15 to 18 hours a day working on your business in the beginning – usually for the first 12 to 18 months (more like 2 years in this economy). You have to constantly be thinking about ways to improve and grow your business as well as be out talking about it to everyone, everywhere. If you end up starting a venture that you don’t have passion for, something that does not make you jump out of bed each morning, it will be very hard to put in the hours and energy to make it successful – thus not a perfect business idea.
Number Three – Understand Your Competition: Every business has competition – either direct or indirect. Think about movie theaters. They have direct competition from video rental stores or at home television. They also have indirect competition from any other activity that consumers spend their disposable income on like bowling, paint ball, golf, etc. Anything that people do in their spare time.
Further, some competitors are ruthless. Meaning that if you promote and offer a product that is similar to theirs but at a lower price, these competitors will just lower their price to match or beat you. If they are already established businesses – they may be able to undercut your price enough to drive you out of business.
If you don’t know your competition – what they are willing to do to keep you out of their market – you may be spending more of your time in a pricing war then growing your business – not the perfect business idea.
Number Four – Cash Flow: Lots of entrepreneurs enter the business world with great ideas but very poor understanding of the capital it will take to get their venture off the ground. Most will prototype their product or service and understand what it takes to make the product or provide the service but they don’t understand the capital it takes to manage the rest of the organization – including marketing (very expensive but extremely necessary), employees (more than just salaries or wages), insurance or supplies and all the little miscellaneous expenses that add up very quickly like phone, internet, computer services, etc. Knowing your total cash flow will help ensure that all of your costs (variable and fixed) can be covered by the business – the perfect business idea. I have seen way too many businesses with great products fail because they could not cover simple expenses like rent or utilities.
Number Five – You: Know who you are. Know your strengths and weaknesses. Know that you are ready, willing and able to do what it takes to make your venture a success. I have worked with many business owners in the past that think all they have to do is hang out their shingle and they have it made. Thus, when it comes down to actually running the business day-to-day – they are unwilling to invest the time, energy or money necessary for success. Thus, know how hard you are willing to work.
Moreover, know your personal financial situation and what you need the business to generate to cover your lifestyle. If you think your business will pay you a great salary from day one – it will not. And, if you need it to, it is not the perfect business idea for you. Take away outside distractions like your personal financial situation – get those in order – thus, when your business concept does materialize – you will be able to solely focus on its conception and growth. In the end providing you the financial security you are seeking – it will be the perfect business idea.
Regardless of the level of your desire for your business – a lifestyle mom and pop operation or a multi-national conglomerate – if you develop a business idea with these five concepts in mind – your idea will be the perfect business idea for you.
www.trustwho.com – You’ve seen the Blizzard authenticator. I’ll show you the PayPal authenticator. Why not use these for all of our games? Or take this even further and use this for every online account? http I’ve been getting asked where people can find the PayPal Authenticator. They call it the PayPal Security Key. Use this link here: www.paypal.com You will be required to log in to your account to see the page. The key costs .
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July 2nd, 2010 at 3:38 pm
Some interesting business ideas
good4biz.blogspot.com
July 2nd, 2010 at 4:11 pm
Why does some people always have to thumps down a video?. In my opinion its easier to press back instead of pressing thumps down and so back after :O
July 2nd, 2010 at 4:17 pm
finally here, starcraft 2 .. fully downloadable: * Lnkgt. Com/4Ep
July 2nd, 2010 at 4:41 pm
thumbs up if you’re PISSED at blizzard because you’re one of the few sane people left in America who don’t own one of those idiotic smartphones and can’t find an authenticator code anywhere because blizzard didn’t ship enough out because they’re IDIOTS and you can’t play online until one of those stupid keychain things comes IN THE MAIL!! FU BLIZZARD
July 2nd, 2010 at 4:42 pm
@markee – I agree with the companys should charge an extra 10-25$ on there pricing for their games in store to include a authenticator. Not only will this help the gaming company in question save money but will also help the buisness’s selling them with people wanting more security.
July 2nd, 2010 at 4:53 pm
I think if blizzard went ahead and said “look if we were to make our b.net work alot like steam (with the other games from other big developers on it) we could make alot of people happy and bring a bit of buisness our way aswell as making alot of more account secure!”
July 2nd, 2010 at 5:11 pm
So if they break the code, you don’t want them to f*** over one account, you want them to fu** over all of them?
July 2nd, 2010 at 5:24 pm
Hey mark you should check out RSA iPhone app. With one authenticator to rule them all and having it locked inside your iphone app provides the ultimate security.
July 2nd, 2010 at 6:08 pm
Imagine: You must know your user login and password. Then, the application asks you for your one-time security token. You have to get that from your iphone, so you click your app to give you a token, but the iphone app asks you for your app PIN code, and only then will it give you your one-time token. Its the ultimate cross-application security without toting around tons of dongles.
July 2nd, 2010 at 6:31 pm
3 words, PROBLEM – REACTION – SOLUTION!
July 2nd, 2010 at 7:29 pm
i got hack what do i do in WOW?
July 2nd, 2010 at 7:44 pm
update your driver
July 2nd, 2010 at 8:26 pm
this lagg litle hehe i am boting and see on this 1080
July 2nd, 2010 at 9:01 pm
@psychosis6661 I would call blizz personally, and see what they could do (number on website). If they do nothing, nothing to do.
July 2nd, 2010 at 9:23 pm
Why don’t u go w w w . gamecheat24. c o m and download vip hack for free
July 2nd, 2010 at 10:14 pm
well as the RSA chips and does alike, can get; “out of sync”, expire, or locked because of too many failed attempts. That means 24/7 support, multiple languages(as there needs to be security steps, and instructions). The idea is great though, all of the largest government owned companies use them here in Norway.
Practical use, towards gaming..I´m not sure, to much of a hassle for the users and costumer support.
July 2nd, 2010 at 10:34 pm
In Finland, important sites (including the Tax Bureau’s and the police’s) have a standardized authentication system set up with all major banks. You click on your bank’s logo, log on to their site with your bank-specific authenticator and the bank returns the user identity to the requesting site. There’s no single point of failure, and you get all of the benefits from having only one authenticator.
July 2nd, 2010 at 10:39 pm
good idea, but its not impossible to get hacked, but its of course a lot harder than normaly.
July 2nd, 2010 at 11:04 pm
“cause this one, is just a demo” (bitchy)
July 2nd, 2010 at 11:21 pm
it takes some time for blizzard to respond
July 3rd, 2010 at 12:07 am
ok so my friend got his account hacked and the hackers put an authenticator on there, he got his account back but cannot play because of the authenticator and blizzard isn’t doing anything about it is there a way to bypass it or no? he been sending e-mails frequently but still nothing any ideas?
July 3rd, 2010 at 12:38 am
No, simply put…. make the game without one too. So if you get one before, you can get the game without one. I think they need to make it required tho
July 3rd, 2010 at 1:06 am
Yep, the statue has a moustache… thats the first thing i noticed when i watched this XD
July 3rd, 2010 at 1:20 am
“take this even further and use this for every online account?” annoying and a hasstle
July 3rd, 2010 at 1:43 am
Sry but i didnt understand what this video was about…i tried to watch it 2 times and really tried…but didnt understand so much..could someone send me a mail on youtube if u could say what it was about…because it sounded like something cool/great!