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Tuesday, April 16, 2013

Ideas are Cheap by Marc Charles

Ideas are cheap.

There's nothing new under the sun.

I think this pissed off another entrepreneur yesterday.

I've reviewed close to a thousand business plans, ideas, strategies, executive summaries and marketing campaigns over the past 25 years or so.

And I can tell "new" ideas seldom make money, and are rarely "new" at all.

I could write three books on the topic - but only one this year :)

The point is I encourage myself, and others to look at ideas, businesses or markets that are already making money.

In other words, trying to invent an "Apple Killer", a new "CraigsList" or a new "Google" is a waste of time, money and resources for MOST startup entrepreneurs.

Does that mean you don't invent, innovate or improvise? Well...sort of.

I would say there's more money to be made, sooner, by improvising a product or service that is ALREADY successful or that has a proven market demand.

The entrepreneur that approached me wants to develop a "new" approach to FOREX trading, an info product, webinar, coaching and trading advisory.

I simply asked, "What Forex products are wildly successful in the market right now, today?"

The entrepreneur was not concerned with what other people are doing. His product is "new", better and will sell much better.

Perhaps. But I doubt it.

As an entrepreneurs we need to know what is working or selling RIGHT NOW, today in whatever market we are in IF we want to develop a super-successful product.

The difference between the "perceived" and "actual" demand for something is light years apart.

What's more, ideas are cheap. But how to apply an idea successful is much more valuable.

That's my take today.......hey......and its free advice.

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