Business Examples

A successful idea does not have to be original; repeating an idea in a different location or with a modification of some type can be just as rewarding.

It can be small business example such as:-

A friend of mine many years ago saw the local authority issuing Wheelie bins in the local area, correctly thought that the plastic bins would become dirty very quickly and people would not want to clean them, as per the older steel version. He set up the original Wheelie Bin cleaning service with a small van and a portable pressure washer. 5 minutes work and any bin would be clean hygienic and smell nice. He now has over 40 people franchising his idea and no longer cleans bins.

Alternatively, a larger example : -

Ray Crock was a Salesman of Milk Shake machines and other restaurant items in the USA, he called upon one of his customers as part of his sales effort and saw that they were producing many more burgers per person, per minute than their competitors were. He helped the owners exploit their system and the companies name of course is McDonalds. We all know what happened to them. Whilst Ray Crock was the catalyst, the idea was the McDonald brothers but they all became wealthy men.

Therefore should you exploit a good idea?, in my experience probably 80% of good ideas get no further, but do not let this dissuade you; if the idea gets through the following steps then it will have a very good chance of success.

Key to proving the viability is a good business plan, modelling the business in a properly composed plan enables you to change variables until you have the right balance for the business. It is also possible that you have some difficulty proving the business will be profitable. In this case, normally a modification to the original concept may bring the model into profitability.

The 'Balance' is usually between, Capital Cost, Production Volume, available finance and Market Price. Many other factors can also come into play. It is wise to analyse the Business Plan together with your consultant.

You must have passion, belief and tenacity to take your idea to a profit.

Also for your own benefit, write a small description of the proposed venture on one or at most two A4 sheets. This will firm up the idea in your own mind and after reading and revising this a few times position you better to answer questions about your idea.