A New Idea Isn't the Answer
Let's get this clear if it isn't already...a new idea won't make you a millionaire or a billionaire.
What WILL make you successful, is following an already profitable business model - and adding your spin to it.
History is filled with people who saw the potential in an idea and turned it to their advantage. We like to think of these people as examples of creativity and ingenuity. But, in reality, they are experts at seeing an opportunity and capitalizing on it.
In Lewis Schiff's book, Business Brilliant - Surprising Lessons from the Greatest Self-Made Business Icons, case after case of "innovation" is proved to be the ability to look at a concept and discover how to put a personal spin on it. He includes data from a study by George Washington University. Paul D. Reynolds discovered that only 2 percent of all company founders expect their businesses to have a major impact on the markets they operate. "They plan to be successful without being innovative." 88 percent stated, "the exceptional execution of an ordinary idea" is the source of their high growth and success.
For example, Bill Gates, Henry Ford, and Albert Einstein get the credit for innovation in computer software, automobiles, and the lightbulb. However, these breakthroughs were not their original ideas.
Without a doubt, if you think you have to have a new idea to have ridiculous success - stop right there. On the contrary, discover a successful business model you like, pour in your expertise, and watch the tide turn. After all, YOU are the only innovation required.
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