Video Blog Volume #1 Episode #1 8.1.14 Out of Ideas? A simple 3 step process to come up with a great startup idea! Teaching you how

Video Blog Volume #1 Episode #18.1.14 Out of Ideas? A simple 3 step process to come up with a great startup idea!

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Teaching you how to master the “Inner Game” of entrepreneurship!

www.iamdellgines.com - Teaching You How to Master the “Inner Game of Entrepreneurship

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What you will learn this episode

1. Where many people who want to start a business get stuck.

2. A basic overview of how humans are motivated as it applies to finding startup ideas.

3. An easy technique to identify ideas using our passions and strengths.

4. An easy way to identify the potential market for your ideas by looking at fears and passions



Where Many Get Stuck1. Avoiding the Zuckerberg effect.

The Zuckerberg effect is the belief that you can only start a business if you are going to make millions of dollars from it.

2. Avoid the perfection effect.

The perfection effect is the belief that you can’t start a business unless you have the absolute perfect business idea.

3. Observe what is really going on in the business world.

The reality is 93% of all business in the nation have less than 100 employees. Many of them do very, very well. Just look around in your neighborhood and community.



Basic Human Motivation

1. The two purposes of understanding motivation as you startup.

2. Passion and fear, the two primary motivations.

3. The weight loss example.



Purpose of Understanding Motivation

Motivation is the MOST important thing to understand in business for two reasons.

1. Motivation is what will get you to start a business and keep you working on the business when things go well or bad.

2. Understanding the motivations of your buyers IS THE MOST IMPORTANT THING in business and is the core of marketing.



Passion & Fear Based Motivation

Joachim Krueger, Ph.D. a psychologist from Brown University points out that emotions are designed to move us from pain towards pleasure.

These two motivators are the fundamental motivators of human beings.

In the business world I call the Passions (pleasure) and Fear (pain). They are at the foundation of all marketing strategy.

Source: Reason and emotion: A note on Plato, Darwin, and Damasio. Psychology Today, 6.18.2010



Passion & Fear In Marketing Action

Let's talk about one of the most common fears and passions, weight loss. The weight loss industry is huge. If you watch the commercials you will see them using the fear / passion approach all the time.

LOSE THE BIG BELLY, GET SCULPTED ABS AND A ROCK HARD BODY.

Fear (moving away from the big belly), passion (get sculpted abs and a rock hard body).



Passion & Strengths Exercise

1. List your top three passionsA. I love helping people start and grow

businesses and non-profit organizations.

B. I love the psychological and personal development side of helping people start and grow businesses.

C. I love public speaking, teaching and training.



Strengths

2. List you top three strengthsA. Strategic thinking and organizing.

B. Public speaking.

C. Researching and building knew knowledge bases.



Two Column View

Passions

A. I love helping people start and grow businesses and non-profit organizations.

B. I love the psychological and personal development side of helping people start and grow businesses.

C. I love public speaking, teaching and training.

StrengthsA. Strategic thinking and

organizing. B. Public speaking. C. Researching and

building knew knowledge bases.



Some Ideas that Emerge

Business idea #1

An online consulting firm that helps where I help people strategically start and grow non-profits.

Business idea #2

A research company that helps business owners do research on their market.

Business idea #3

A business training company that conducts classes on how to start a business.



Passion Plus Strength

All three of those are business ideas that combine my passions with my strengths. This is important because when you do what you are passionate about and what you have strength in it is easier to stay motivated through the process.



Estimating the Market

Now that you have come up with a few ideas let’s talk about estimating who the target market might be for those ideas.



Return to Passion & Fear

Remember, previously we talked about the two primary human motivations being towards pleasure (passion) and away from pain (fear).

Let’s look at how we can estimate the market using those two principles.



Business Idea #2 Example

Let’s look at business idea two that I created from my passions and strengths:

Business idea #2

A research company that helps business owners do research on their market.



Passion & Fear Discovery

Based upon the startup idea being a research company, we could estimate the market being individuals or companies that fit the following criteria:

1. Passion - Business owners that want to find new markets so they can accelerate the growth of their business.

2. Fear - Business owners that are worried that they can't find the key markets for their products and services and are at risk of going out of business.



Summary & Next Steps

We have learned in this article 1) how to identify passions and strengths and come up with business ideas around them. We have learned 2) why it is important to start businesses in your areas of passions. Finally, we have learned 3) how to use fears and passions to identify the basic market for your business idea.



Free Basic PDF AvailableIf you want to download

the free PDF Simple Idea Generator visit

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www.iamdellgines.com

Teaching you how to master the Inner Game of Entrepreneurship



Documents

Video Blog Volume #1 Episode #1 8.1.14 Out of Ideas? A simple 3 step process to come up with a great startup idea! Teaching you how