6 Ways to Find a $100 Million Idea

by | Sep 14, 2018 | Best Business Helps | 0 comments

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Last Updated: May 15, 2018
Successful entrepreneurs don’t just stumble on their million-dollar business ideas. In this adaptation from the new book “How They Did It: Billion Dollar Insights from the Heart of America,” author Robert Jordan shares six things he learned from the founders of some of America’s most successful businesses.

Ever wonder how entrepreneurs come up with brilliant business ideas that turn into successful companies? I interviewed 45 company founders, each of whom started, grew, and sold a company for $100 million or more, or took their company public for $300 million or more. Here are some of their secrets.

Fulfill their need, not your passion.

It’s a myth that successful businesspeople got into their field because they cared deeply about it. Success doesn’t follow passion, it follows need. Find something that no one’s doing that somebody should do. That’s what Dick Costolo, founder of Feedburner, did when he saw that publishers had content but no way to distribute it online to subscribers and syndicators.

Identify your customer’s big problem.

Where there’s a meaningful problem, there’s a reason to solve it. Cardiologist Donald C. Harrison came up with the idea for his medical device company AtriCure after asking himself how he could make a novel contribution that would help his heart patients in a major way.

Get it from your hands, not your head.

How did a guy with a degree in supercomputing end up in the trucking biz? Internet Explorer billionaire Tim Krauskopf got the idea for a transportation technologies startup, FreightZone, after he learned to drive a semi and began to experience what was involved in the trucking industry.

Put your heads together.

Often, $100 million ideas come from collaboration. Rock Mackie knew Tomotherapy was a viable concept only after three of his graduate students each made separate and important discoveries. Put together, his team’s ideas resulted in a new and remarkably better CT scanning technology for treating disease.

Make it sellable and fixable.

Do you think you have a great idea for a new product? It’s not a great idea until you’ve gotten involved in selling it. Jim Dolan of the Dolan Company advises that selling is the quickest way to find out what’s wrong with your product idea so you can fix it quickly and move on. If you can’t sell it, don’t make it.

Get help developing it.

Serial entrepreneur Mahendra Vora, who’s launched more than a dozen highly successful tech companies, warns would-be entrepreneurs not to be narcissistic about their idea. Instead, develop 60 percent of your vision, put it into the hands of trusted customers, and let them help with the remaining 40 percent of the idea.

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Robert Jordan has been launching and growing companies and helping other entrepreneurs do the same for the past 20 years. He is author of How They Did It: Billion Dollar Insights from the Heart of America(RedFlash Press), a collection of interviews from 45 leading founders who created $41 billion from scratch. His newest endeavors are RedFlash project implementation team, and interimCEOinterimCFO, a worldwide network of interim, contract, and project executives.

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From Admin and Read More here. A note for you if you pursue CPA licence, KEEP PRACTICE with the MANY WONDER HELPS I showed you. Make sure to check your works after solving simulations. If a Cashflow statement or your consolidation statement is balanced, you know you pass right after sitting for the exams. I hope my information are great and helpful. Implement them. They worked for me. Hey.... turn gray hair to black also guys. Do not forget HEALTH? Competence Progression is actually the number 1 crucial and main aspect of accomplishing real achievement in all of the jobs as most people found in your population together with in World-wide. Thus fortunate to go over together with everyone in the next concerning whatever productive Proficiency Advancement is;. precisely how or what techniques we get the job done to reach aspirations and in the end one will certainly work with what anyone enjoys to complete each individual day just for a 100 % lifetime. Is it so superb if you are effective to establish successfully and discover success in precisely what you thought, steered for, regimented and functioned very hard all daytime and surely you turn into a CPA, Attorney, an holder of a big manufacturer or possibly even a medical professionsal who are able to really make contributions excellent help and valuations to many others, who many, any population and local community absolutely esteemed and respected. I can's think I can help others to be leading skilled level who seem to will bring critical alternatives and relief values to society and communities in these days. How happy are you if you come to be one just like so with your own personal name on the title? I have arrived at SUCCESS and prevail over many the really difficult pieces which is passing the CPA qualifications to be CPA. Besides, we will also take care of what are the dangers, or different factors that could possibly be on your current technique and ways I have personally experienced all of them and can demonstrate to you the best way to overcome them.

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