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Many Business dreams never see the light of day…

This past week has been very busy with a lot of “must attend”  functions. My favorite topic of conversation when I meet someone new and after the FORD  (family, occupation, recreations, dreams) questions  is, “if you could start a business, what  would it be?”

I find that most people have an idea about a new service, a book topic, or a new product; in fact, some are very passionate about it. The next two questions,” how long have you been thinking about it” and “why haven’t you moved ahead with your innovative concept” shed a lot of light on people’s character.

Most of the ideas have been around for a number of years. The most common reason for not proceeding is “a lack of time”, followed by “lack of funds” and” I don’t know how to start”. I equate these answers with the word fear, a fear of stepping out to chase a dream.

Everything starts with an idea buried in someone’s mind. Some have, in my opinion, great potential and can make an impact if developed and marketed. We have incubator systems for new businesses that are looking for support and even financing for their new business. The people in the “incubator” process are working their own ideas; I think it’s time we started an incubator process for ideas. The concept is relatively simple, ideas are registered and presented to the “idea incubator” group.  This group has the option to go forth with the concept, at their expense, and the developer of the idea would retain a 4% ownership in the profits for the first three years and then it drops to 1%. Owning  1% of a future “Apple” is not a bad situation.

There is no risk for the person who came up with the idea and that person will be recognized as the original “idea person”. This concept is better than of many large firms whose employees come up with an idea but it belongs 100% to the firm.

I am currently putting together this “idea incubator group” and am welcoming both group members as well as those with ideas to present. Let me hear from you.

Often the only difference between winning and losing is momentum.                   John C. Maxwell

Nick J. Petra        visit us and subscribe to our daily blog and monthly newsletter

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