Most of you have probably heard the phrase, “If you build it, they will come.”
But let’s face it. While you are getting caught up in daydreams about becoming the next Facebook or Twitter, other entrepreneurs are finding niches that work well for them.
A surprising fact about most successful start-ups…
Most start-up companies fly so far under the radar, we may never even learn of their existence. The thought of going viral and exposing yourself to millions of users often happens before your business has made ANY money. I’m not saying you can’t do it, I just think we should be more realistic in our approach. Value can be created rather easily, but how?
Finding a solution to a problem…
We live in a world that is far from perfect, but that my friend, is what gives you this perfect opportunity! Look at the world around you, ask plenty of questions and you will be quick to find a viable product or service solution.
An alternative approach to thinking big…the $1,000 Start-Up:
Instead of trying to create the next billion-dollar business, let’s take away a few zeros first. I urge you to build a $1,000 company that’s profitable in a repeatable and sustainable way. By doing so, you should learn:
- What it takes to build, deploy and run a business
- That your $1,000 idea might be bigger than you thought
Take action, work hard, and enjoy the ride:
Focus on one clear value proposition. Don’t complicate things, you will add more problems without providing the right solution.
If you need a hand with brainstorming start-up ideas, here are some tips on how to monetize on digital properties:
- Explore the world of brand licensing
- Offer VIP status to customers
- Rent digital space
- Find partnerships
- Offer users access to premium content
- Monetize off the value of an email list
- Incorporate relevant advertising
If you have some cool ideas to add to the list, let me know in the comments below!