We briefly discussed creative capital last week, and it’s a topic that deserves a bit more exploration. In essence, one way to become rich is to be able to move an idea into your asset column. Those people who have had an innovative idea and put it into production, whether it was for an automobile or for Post-Its, have been able to move that idea from “idea” to “asset” in a very big way.
A lot of great ideas get discarded before they are developed, and a lot of ‘great’ ideas deserve to be discarded before they take up too much time and end up being a problem more than a solution. That’s where objectivity and research come in.
Let’s say you have an idea for a new product or a variation on one that has been successful. The first thing to do is to check out the marketplace--globally. The best scenario is if you can find a void in that marketplace and find something unique to fill it. But if not, there is always room for excellence in both products and ideas. It’s important to consider that you could have something to offer that would be viable as well as valuable.
In the current economy, many people are being challenged to find alternative venues for income. That can be an exciting time if you approach the situation in a positive light. “Necessity is the mother of invention” is a proverb that resonates because it is true. It’s also empowering to think of being an inventor--what doesn’t exist yet that could or should exist? That way of thinking will open you up to the possibilities that are definitely there. Your creative capital might be waiting for you to discover it.
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13 Comments
You have always been a great one to recognize good ideas, and I imagine by now, you know all the ins and outs on how to market even the ones you don't wish to personally oversee without worrying about someone beating you to market.
I have no trouble coming up with a plethora of new ideas, but, while many will improve things, I do not have the resources or passion to see many of them through, so if I give them away to those who have a direct interest, and someone else can benefit financially, while everyone benefits from the product, then, to me that makes more sense than burying them and maybe forgetting them or not putting them to good use. As long as I don't care who gets credit for them, I can get a lot done indirectly. The more I share them, the more ideas come.
What I need to learn is how to develop an idea that I am passionate about without sharing it till it is market ready. How can I research without tipping off those who wait to capitalize on others efforts? How do I protect my intellectual property?
This entry reminds me of what Oliver Wendel Holmes once said "Man's mind, once stretched by a new idea, never regains its original dimensions."
So, if yOu are a innovator or creative sales person - do please be business oriented too. And if I may quote Mr. Donald Trump own words: Do only what customers want and what tehy are willing to pay for: So - the question is: Is Your innovation what people want to buy? Have You asked from customers?
Best Regards,
Markku Tauriainen
Finnish Entrepreneur
www.angelo.fi
Founder & CEO
P.S. I have been following mr. Donald Trump blog now some about 2-3 year. I have found many articles benifitable and usefull to remain me to be what customers want. Or at least try stay focused on that path, whic is only way to make profit & successful business.
John,
http://www.canadabanks.net/Financial-Calculators.aspx
"Stick-its" are not a necessity. Although some people find them useful, generations have lived without them, and still can.
Of the necessities, based on Abraham Mazlow's Hierarchy of Needs the following is an important theory:
* Physiological - breathing, food, water, sex, sleep, homeostasis, excretion.
Safety - security of body, employment, resources, morality, the family, health, property.
Love/belonging - friendship, family, sexual intimacy.
Esteem - self-esteem, confidence, achievement, respect for others, respect by others.
Self-actualization - morality, creativity, spontaneity, problem solving, lack of prejudice,
acceptance of facts.
From Wikipedia, the free encyclopedia.
If current businesses adhere to these basic needs they are more likely to continue to be in business many years to come provided a global war doesn't leave our planet short of the ability to produce necessities such as food, clean water, and protective clothing...
Being innovative for profit alone is seldom enjoyed as much by people than the "profit that comes during the creative process." As an Artist first, and an entrepreneur ( that can struggle when the economy changes for the worse), I find self-actualization can happen independently.
After checking out the marketplace-- globally, I can see where businesses are failing due to the lack of understanding basic needs.
I agree with you that there is always room for improvement. Being different, just for the sake of being different, is not necessarily improvement. Building materials for homes are an improvement when it provides better safety to people and animals and deters property damage which is very costly to replace. There are countless examples where existing products can be improved upon.
What doesn't exist yet that could or should exist? Global appreciation for the many things we already have and the opportunity to share them to improve the quality of life for everyone, not just the people who have the money to buy what they want for him (or her) self, and a selected group of others.
We are empowered by Wisdom, which comes from Experience. Learning is what we do to gain both.
Perhaps more stimulus money should be invested in adult education rather than on bailing out car companies with built-in disposable mentality. Just observe the amount of garbage that we produce everywhere, everyday. Valuable things that enhance beauty shouldn't be destined for the recycle bin.
They should be admired, and valued so future generations can use them. How many modern "inventions" can this be said about?
Yes, creative capital (money) is needed to get people to think and empower them to make room for excellence in both products and ideas. This creative capital will open up the possibilities that are definitely there. I hope my creative capital is waiting for me to discover so this can be an exciting time for me and I can approach my situation in a positive light. If not, I'll have to do it the old-fashioned way--
I'll have to EARN IT!
Thank you,
WLewis
VOYAGEHOMELOANS
Sometimes it is benefit that you do not know the person with whom you are talking, so you can say anonymously your opinion. Even usually shy and quiet persons can get their opinions forward, silent knowledge is very often important.
I am working in MTT Finnish Agrifood Research and there this IPR Innovation activity is strongly on display. Concerning my own career and educational aspects I am studying business economy and graduating for the exam in administration and I have to adapt my studies and work together and bring advance to my employer also.
I have followed globally with great interest our economically influentical situation and now there is challenge and good chance for everyone to get an good idea how this economical situation will be resolved or to get boost to your own good idea. Calmness is the key to success now.
I have 2 ideas that I believe would sell in todays market, but currently I have serious money issues. I have be laid off from the auto industry and employment in my area is almost nonexistant. I can't afford the expense of getting a patent because my children have to come first. Is there any grants out there for me to get started or any investors that would be willing to listen to my ideas? I don't know who to ask around here because of all the corruption you here about in the news. I also thought about the site inventhelp.com but there has to be strings attached to them too. Do you have any suggestions?
mayra, from chicago, il
I bought my first house at 16 for 800 dollars, i put 200 dollars in paint. Sold that house after living rent free for two year for 39,000.
It was not a foreclose house. tax sales are cheaper and safer, but not the only card ether.
its all about knowing location and market moves. The highest return for the least investment.
I'm no trump (hehe) really don't want to be. To public for me. if trump ever looks at these post a little ad vice not cutting you down, your a very very smart man. hitting back as you put it, does nothing but keep the person in the public eye. i find that a little private chat in the right place does a lot better. I don't look like I'm a hot head on the attack. Don't give your power away. Giving into anger in public is giving very public power to that person and the longer that person can keep you angry the more of your power your giving them.
Be as smart as you are with your money with your base power.
think of it as a poker game or a very tight bargain. The more they see you have been pushed off balance the more gotya's they can get thought.
Unless you really meant to do a promo for that person. I've never marketed a person before I'm learning as i go.