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Cambrian House began as a crowdsourcing community using a wisdom of crowds based approach to discover new business and technology ideas. These pages are being kept online as a technology demo to showcase Chaordix™.

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What makes a great idea a great business?

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ccozad
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Member since: Jul 31, 2007
Rank: Viking King (918 Posts)
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I stumbled upon a great presentation that might help folks in the community understand what makes a great idea AND a great business.

You can look at the presentation here:
http://www.londonentrepreneurschallenge.com/download/WhatMakesAGoodBizIdeaV3_1.ppt

Some highlights:

The presentation points out that there are many types of ideas:


Ahead of their time -" Da Vinci’s Helicopter
Simple -" the wheel
Lucky - cat’s eyes
Solutions in search of a problem �" non sticky glue
Bad -" Curry.com
Formats -" Survivor, X-Factor
Profitless -" the Panic PIN
Stupid -" Solid Gold Hat Shop
Theoretical -" Heisenberg’s Uncertainty Principle
Discontinuous -" The Internet


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The presentation also points out some criteria for judging ideas. I have seen the "fire ants" (the CH mob) use all of these when rating ideas, with certain members favoring different criteria:


1. Management
2. Market
3. Competition
4. Product/Technology
5. Financial Plan



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So that leads into a general question to every one, what do you think makes a great idea a great business also?

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Posted: August 23, 2007, 4:39 pm
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