It is not the billions of ideas, which pop-up in the mind that make money. Very few ideas are worth the time it took for the thought. Most ideas are fleeting ‘sparks’ that are forgotten before the next day. Most people are just not oriented to do anything about their ideas, while others believe it would take too much of their time and money to follow through to completion. This leaves the market place wide open for the person who learns how to create profitable ideas.
There are three major formats you can create profitable ideas:
One – Find something that already exists,the presence of which has never been known before.
Two – Invent something. Most inventions are merely new arrangements of things that have already been invented,
Three – Alter or improve in any number of different ways something that already exists.
As you create ideas write them down. What you dream up can be your key to great wealth. Keep your mind open as you go through each day.
What did you noticed in the department store that would reduce cost, save money or increase sales if some simple procedure were added or something changed.
Ideas for improvement are one of the most valuable things you can contribute to society at the same time add to you bank account balance. To create ideas for improvements, consider every possibility and alternative for the thing you want to improve.
Learn to create ideas by evaluating all the different aspects of the product, method or concept you are interested in. Put your imagination and subconscious to work and write down your thoughts pertaining to each of the things you expect to improve. Use the wealth, ‘Idea Format’ that follows as your guide for creating ‘Money-Making’ improvements.
Idea Format: List the things you want to improve:
-Why should it be improved?
– Who will benefit from the improvement?
– What is wrong with it at the present time? – Did someone else cause a problem with it? – How do you propose to improve it? – Do you have the facilities to do the work required? – Do you have the know-how to the work required to improve it? – Exactly what part needs to be improved? – Should it be smaller or larger? – Should the colour be different? – Would more activity make it better? – Could it be combined with something else to make it more practical? – Would a different basic material work better? – Is it too complicated, could it be simplified? – Would a substitute be more meaningful? – Is it priced too high? – Would a change in personnel help the situation? – Can the shape be changed to advantage? – Can a new marketing plan make the difference? – Is it safe? – Can it be mass produced to bring the unit price down? – Should the appearance be changed … streamlined? – Is there an adequate guarantee? – What can make it appeal to a bigger audience? – Would a new packaging or trade name enhance it? – Can it be made heavier, lighter, higher or lower? – Can it be franchised? – Is there a good maintenance program to back it up? – Can financing be simplified? – List ways to increase production: – List ways to increase sales: – List ways to reduce cost: – List ways to increase efficiency: – Lists ways to improve quality and increase profits! – What can be done with it to satisfy more people?
This New Wealth Idea Format will start the the ideas sparking and as related ideas come to mind write them down in every variation you can think of. Do not judge the good or bad points of the ideas as they materialize to you, just write them down and judge them afterwards.
You will stop the flow of ideas if you are critical of your thought before you put them on paper. When you have answered everything you can about the product idea or concept and know how it fits in with your plans, sit down and evaluate all the details you have written.
After you have found a good idea, follow it up with questions on what should be your next move in order to do something about it, then act! Get it moving. Expose it to the world with sufficient tests to determine the value.
Come up with ideas that are still in the processing stage rather than get stuck on several vague points that may be worked out later as your subconscious goes to work. If your idea fails so what? You are just that much closer to finalizing another one, then another… until a useful more valuable idea is born.