Gangster Profit

Business and Marketing Web Radio Show featuring Robert MacDonald and Kevin Bombino

Episode 019: Your Business Idea

Filed Under: Business, Length: 4:11
The guys challenge the conventional wisdom that entrepreneurs need a unique idea.
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Transcript:

K: Alright, so we hear a lot of people who, you know, we get very excited because people are like, “Hey! I want to move out to the west coast and start my own internet business and live in the sun”.

R: Yeah.

K: And here’s my idea.

R: I save double bunch of money from my job and I quit it and now I’m going to build this business, here’s my idea.

K: And you know we have to say I love this, I love the, I love the enthusiasm, I love the idea of reaching out for yourself, but, I think it’s a common mistake out there that entrepreneur’s think that they should coming up with some kind of unique idea.

R: It’s a worst kind of idea, in our opinion, is a unique idea.

K: Absolutely.

R: In fact, the whole thing about having an idea, is probably the worst possible way to get started in a business. You don’t want to do anything original when you’re starting a new business. All you want to do is start a boring business that someone else has already figured out for you entirely, where there are already real costumers out there buying real products and you don’t have to innovate a single thing.

K: Absolutely. There’s a statistics out there that if you open a Mac Donalds, your chances of success in terms of being able to make a product are greater that ninety nine percent.

R: You know what is funny too is that, you hardly ever see anyone quitting their job with a bunch of money saved up and trying to open a Mac Donalds.

K: Which is a shame because it’s the perfect intro to entrepreneurship.

R: It’s awesome. It’s like training wheels. They teach you everything. You got a completely proven formula, you follow it step by step, you don’t think. I don’t know what that movie is where they use the term you little think for your suffer, or whatever it is but that’s hilarious and it’s true. People should not think for their self.

K: Well, certainly not the beginning.

R: Not the beginning. You know, once you’ve learned certain basic things, such as how to drive traffic, how to convert sales, how to set up your all your you know basic business stuff and you’ve got your LOC, your account, your all your stuff figured out, that’s all after thought and everything. Then, you can start thinking about, hey maybe with my second or third or fourth of fifth business, I’m going to come out with an original idea, because the original idea makes your business that much harder to launch.

K: Well, absolutely. Here’s the thing. If your business is already being done out there, and let’s be honest here, most, most even if you think you idea is original, it’s probably being done anyway. If it’s already being done, all you have to do is look at what they’re doing and copy it.

R: Yeah great. Everybody goes “Ah, my ideas already being done”. And it’s like no, you should be like, “That’s awesome, I got to copy exactly what this person is doing”.

K: Yes. They have already made all the mistakes that I would have made.

R: And they’ve proven that they can actually make money with my idea which means my idea wasn’t shitty and they just did eighty percent of the work for you right there.

K: Yeah, absolutely. I mean, I don’t think anyone of our businesses is truly original. Yes, some of them are slight, slight twist on things that are already out there but..

R: Yeah and most you want a slight twist. You want something that makes you original. You want like a U. S . peel like a unique selling position. But, you don’t want to be reinventing the wheel.

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