What separates a successful idea from a disastrous flop?
Is it the precise implementation of a business plan? Excellent leadership skills? A tactical team? Amble start up capital? Or the ability to execute a quirky idea?
Tomorrow, Joan Rivers, the latest winner of Donald's Trump's The Celebrity Apprentice, debuts "How'd You Get So Rich? ," a reality show that introduces the public to the glamorous lifestyles of successful entrepreneurs. From Billy Bob Teeth to The Slanket, Rivers interviews several inventors behind quirky ideas that made millions.
As the economic downturn encourages entrepreneurial innovation, what will be the flourishing ideas this year? Next year? And in five years?
There are plenty of ways to make a dollar, but sometimes it is the most basic, innovative and quirky that win on a large scale. I am often reminded of Alex Tew who had age 21 launched milliondollarhomepage.com, a website with a million pixels of advertising space, each costing one dollar. Tew's idea appeared crazy at the time, but he still managed to sell all of the advertising space for over $1,000,000 USD.
Tew brilliantly executed his idea and succeeded, because it was quirky and the first concept in the market place. Months after Tew's success, several imitation websites were launched, including milliondollarwebsite.com, which yielded minimal results.
As entrepreneurs launch new business plans, the ideas that will win big will add unique value, distinction, and quirkiness into the marketplace.