I have a friend in New York City who works for one of the biggest companies in the world. Everyone knows this e-monster. It’s a technical marvel. And it seems to be taking over the world. Which means it’s a great place to work right now. But my friend, who I will call Flora, also has a strong entrepreneurial drive. She has several great startup ideas and is trying to determine the best one to pursue, and the best time to pursue it.
The Throw Away Ideas
Flora thinks big, and wants to create a really big business of her own. Which is to be expected when you work for a global giant. But she also has several interesting ‘small’ ideas that she quickly dismisses. Flora calls these $100 ideas, and tosses them aside the way you might throw fish back in the water because they are too small to keep.
Caution Young Grasshopper
I warn Flora against disregarding the $100 ideas. There is great power in them. In fact, more people have turned $100 ideas into $1 million ideas than have made a cent off of a billion dollar idea. This is because it is much easier to get moving on a $100 idea. As I wrote about in a prior post, the key ingredient to entrepreneurial success is action.
Take The Money Making Idea And Run
If you have entrepreneurial ambitions, or want to develop a side hustle, don’t dismiss your ideas because they are not likely to get covered by Tech Crunch. See the $100 idea as a great way to start and gain experience.
Your $100 ideas teach you how to create a machine to deliver products or services. They are they intro courses to business building. Once you get started you can always expand and scale them up. You may be surprised how much your $100 idea will ultimately be worth. But only if you get started.
Adam & Sleeve
My first real business was a $100 idea. I designed and sold T-Shirts under the brand name Adam & Sleeve. I learned all kinds of valuable lessons about operating a business from Adam & Sleeve that I put to good use when I started my advertising and idea agency, The Weaponry. The Weaponry’s revenues are in the millions. But it sprung from knowledge gained running a…