C'mon Chris, does innovation really make money? ABSOLUTELY!
Consider this. Some of the best money making ideas are simple. For instance, one person had this simple idea.
** Historical Money Making Idea No. 1 **
I'll make a large ring out of plastic for kids to play with.
Now how many people do you think told that person that he wouldn't make a dime? To say that there were lots of them would probably be an understatement. Yet all those people might as well have picked their chins off the floor when the inventor of the hula-hoop made gobs of money with it!
** Historical Money Making Idea No. 2 **
I'll make small instruments to get the food out that gets stuck between people's teeth.
How many people thought that was a stupid one? Perhaps a few million?
My hat is off to the inventor of the toothpick who would not let that money-making idea get away.
** Historical Money Making Idea No. 3 **
I'll take a stick and put a piece of metal on the end of it to hit things with.
Is that ridiculous or what? The inventor of the hammer didn't think so.
All it takes is one good idea to make a lot of money. I've said this quite a bit over the years. In fact, I was talking about money-making ventures with an acquaintance of mine about a year ago. I remember the conversation well because we got into a significant disagreement. This young woman was complaining that all the good ideas had already been thought of and that the market was so saturated with money-making ideas that they were literally all gone.
Needless to say, I disagreed and you won't find me agreeing with anyone who takes that position from now until the day I die. Heck, if I heard someone say at my wake that all the money making ideas in the world are gone I'd probably sit right up in my casket and start arguing with them right then and there. That is how strongly I feel about the absurdity and the negativity of such a statement.
America was built on the ingenuity and innovations of people in a land filled with opportunity. Today, with the internet, cellular phones, faxes, search engines, GPS systems and home computers, there is more opportunity than ever to produce a prosperous financial future or to become debt free by one good money making idea.
Yet this posting isn't about money producing ideas in general. This posting is about innovation! In my mind, innovation is the ability to take an idea that has already been thought of and put a different twist on it or give it a new spin so that it's as if it were a brand new money making idea.
I truly believe that innovation is possible with just about any idea that has made money throughout the history of the world. It is simply a matter of a person with enough patience and ingenuity to discover that "new innovation" .... that new "take" on an old idea.
Bear with me as I constructively brainstorm to create the remainder of this posting and perhaps create a brand new money making innovation.
Of all the ideas that have been used in all the world, I would think I would want to narrow down which idea I might want to use to make money by narrowing down the scope of at least the type of idea. This will at least limit the scope of what my brain has to work with and keep me focused. Over the years I've learned that the best way to narrow anything down is by the use of effective questions.
With that in mind, let's begin.
Money Idea Question No. 1:
Would I rather use an idea that involved a very simple thing or a very complicated thing?
My instincts tell me that "simple" would be better than "complicated".
Money Idea Question No. 2:
Would I rather identify an idea that had one part, a few parts, or a bunch of parts?
My instincts tell me that it would be great if I could find an idea that involved only one part to it, but realistically I may have to go with something that has perhaps 3 or even 4
parts. I think that gives me enough flexibility with the ideas I can work with so I will decide that if something has a "bunch of parts" or if it consists of more than 4 parts, then I just won't consider it.
Money Idea Question No. 3:
Would I rather the idea be something that anyone could lift or could it be something requiring a certain amount of strength to lift (for instance the strength of a teenager of an adult)?
My gut tells me that I really don't want the weight of the item to prevent people from using it or buying it. Therefore, I think it makes the most sense that it be something fairly light that just about anyone could lift, except for perhaps a small child. In other words, it doesn't need to be as light as a feather.
Money Idea Question No. 4:
Does the idea I use need to be for men or for women, or both?
I don't want to limit how much money I can make by a person's gender so let's say that I'd like to stick with ideas that provide benefits for men and for women.
Money Idea Question No. 5:
Does the idea need to be for younger people or older people, or both?
Again, I don't want to limit how much money I can make by a person's age so let's say that I'd like to stick with ideas that provide benefits for people of just about any age, if possible.
Money Idea Question No. 6
Does the idea have to be for a product or for a service, or both?
This is probably more of a personal preference, but I like the idea of trying to innovate an idea for a "product" that has nothing to do with a service attached to it. Products tend to be pretty straight forward. A product to my thinking is pretty much "what you see is what you get." Yet a service usually has a thought process and a methodology and therefore is likely to have more "parts" to it. To innovate a service type idea (like a house cleaning or car detailing service) is probably going to be a bit harder to do and still keep it to 4 steps or "parts" as I called them up above. So let me stick with a product idea.
Money Idea Question No. 7
Does the product idea that I want to innovate have to be for something newer to the product market or can it be for a product that has been on the market for decades?
This one I may have to play by ear. Again, I think that I'd rather not limit myself to newer or older products that have the potential to make me money because some considerably older ideas are still profitable today. People still buy toothpicks and hula-hoops so I wouldn't want to rule things like those out. I don't want to my idea by how old the original product idea was.
Money Idea Question No. 8
Do I want the product idea to be for a large or a small product?
Reason tells me that the smaller an item is, the cheaper it will probably be to make and therefore I may be able to make more money on it. Also, smaller products may weigh less and cost less to ship because of the box size. If anything, small items would probably be easier to package if they need to be shipped so this might save time. Since time is money I'd rather go with something that is smaller.
Money Idea Question No. 9
Do I want the product idea to be for something that I can create myself or would it be something that has to be manufactured?
I want things to be as easy as possible for this exercise and since something I can create myself will get me going much more quickly on my money-making venture, I would rather have something I can create myself.
We could go much further with the questions but let's see what type of profile we have come up with to identify our existing money making idea that we can innovate to make money using just nine (9) questions.
PROFILE
The money making idea that I could use my ingenuity to innovate from to make money for me would have a small, simple, light-weight product that can be lifted by virtually any person, is not linked to a service, can be used by most ages, and can be used by either gender with between one and four parts using an original idea that could have arisen at any time. Lastly, it should be something I can create myself.
What could this money-making idea be?
Ideally, I would suggest brainstorming for several days before seriously considering ideas and narrowing them down to a single usable idea for you to innovate. For this posting I gave myself two (2) minutes and came up with these money-making ideas that fit my money-making idea profile. I used only two (2) minutes because the idea is to understand the process.
1. Pet Rock
2. Christmas Ornament
3. Sock Puppet
4. Shower Curtain
5. Key Fob
6. Necklace Pendant
7. Window Suncatcher
Let's assume this is our list of money making ideas. Narrowing it down from here may depend purely upon the practicality of creating the item, or simply what suits you as a person.
For this example I'll use the Necklace Pendant. This idea has been used for eons.
Now the idea is this. How can I change the idea in some way to make it new and innovative for people today so they will want to buy it.
Many pendants are made out of precious metals, gemstones and are pre-fabricated. Why go this far? Why not make it even easier?
Have you ever been walking an noticed a small smooth stone on the ground that is unique in color or shape? If you haven't, start looking down more. I suggest that you go to a beach if you can. During the summer I consistently see stones that have been smoothed and tumbled by the water. In fact, in some places I can find tens of thousands or stones perfect for pendants. Now, I might simply innovate some way of creating a circular loop on the top of the stone that will not detract from the stone's natural color and uniqueness.
What might work on this great money making idea? How about some fishing line? It is clear, light and inexpensive. A purchase of clear fishing line for a few dollars could provide enough for tens of thousands of loops.
Okay, now how might I hold the small loop on the stone. I'd have to have an adhesive that attaches to stone and ideally it should be clear when it dries. Using Superglue might do the trick but that comes in small tubes so it might not be as cost effective as I'd like but it's something to keep in mind.
I took a minute to do a search and found an epoxy resin that dries clear and adheres to stone because it is used for putting marble countertops in place. Since marble countertops are usually very smooth and polished surfaces I think that will do the trick just fine. All it takes is a very small loop of fishing line and the epoxy. I'll hold the small fishing line loop with the knot right up against the top of each stone that I want to make into a pendant and put a small single drop of epoxy right on the knot while I hold the knot on the stone.
When the epoxy dries it will seal the knot in the epoxy and attach the loop onto the stone. Now you have a one of a kind pendant! There is your innovation. It is hand-made! It is a one-of-a-kind because not two rocks are the same in all the world! It is natural. Could this have been done before? Perhaps. Now your innovation may be in the way you present it to the world. Is it from your own state. For instance, if I made these in Rhode Island, I could note that they are Rhode Island stone pendants. People can carry a little piece of Rhode Island with them. You could call it a piece of history if you want. How long does it take nature to create such a rock? Just that mystery alone might attract buyers.
Hand-made
Natural
A piece of your state
What else might I do? Maybe I might glaze the rock to seal it forever so that it won't chip or break. Hmm... how much might that add to time and cost? Is it worth it to make it a bit more innovative and interesting?
I would take a day or two to consider each aspect of this and how I can use my ingenuity to make this old idea have a really new innovation so that it becomes popular and people will want to buy it.
Millions of dollars have been made by people who use their ingenuity to use an old, simple idea that has been used over and over again to create a new innovation for that idea to give it a new glow, a new attractiveness and bring in for you . . . lots of new dollars.
There's no doubt about it money-making readers. Good innovation of any idea will always make money! In fact, it could make you a fortune! Are you ingenious enough to innovate a fortune?
Authored By: Christopher A. Pearsall
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