Alright, the last few weeks, I’ve given you some business Ideas that you could build as a home business, fun hobby on the side, even a full time entrepreneurial hobby, but WHAT IF you wanted to build a multi-billion dollar business, the kind that would let you retire in 5 years in a castle overlooking the ocean, or what every your could dream of?
Having been engrossed in Mark J. Penn’s book “microtrends” for the last few weeks, and frantically jotting ideas in the margins for businesses that these trends could spawn, today I’d like to share with you the IDEA CHANGERS, those businesses that change the way we think about things and redefine our experience, the way Fed Ex changed how we thought about shipping, or zippers how we thought about clothing. (Pop quiz what market share does YKK have of the zipper Market? Answer at the end of the post.)
Billion Dollar Business Ideas that You can Build
e-University: Some legit and some not so offer online degrees to one extent or another but not in sufficient quantity of quality to really make it a focus. Now what if we approached it from a different direction? Rather than taking a bricks and mortars university and translating it into HTML 5 in hopes of making it iPad compatible what if we built the concept of an e-university from the ground up. Don’t attempt to recreate the standard university experience virtually (there’s not enough e-chohol for that), rather build a new experience that would appeal to the folks who are not buying the standard experience. So who is it that does not got to university?
- Folks who can’t afford it
- People who can’t commit the time
- Uncertainty at the time of what path to pursue
There is a small set of reasoning that covers a wide gambit of people and circumstances that probably tie together. At the end of the day if someone saw the value they could arrange the financing, my wife’s brother has 2 semesters of education savings that he may never decide to use, it will probably go towards my sons e-ducation at your institution.
So it’s the time and the choice that are the barriers to university, not to mention the “Life got away from me” factor. So by designing an interactive environment that people could join and work at their own pace while simultaneously being forced to finish their learning plan you could market to the whole gambit of never did/got tired of/had to leave university non-graduates.
My opinion is that the Environment of the Virtual University will be the key creating a lasting model and I think the key word will be immersive. As I mentioned before there are many online offerings, but I feel the key missing ingredients is an immersive environment. While talking with one of my wife’s friends the other day she admitted that she will lose hours on youtube, watching 3 – 5 -7 minute video after video for countless hours, and the aforementioned brother in law can get lost in cyberspace (IRC) chat for days. I think modeling the social components of the online world while creating a reputable learning environment are two major factors in building this business as I consider university a social experience as well as the piece of paper.
A few other advantages to this sort of format are;
In a mobilized world you can deliver micro-info bursts by cell phone, suddenly the 2 hours a day spent on a train is learning time devoted to your education.
and You can bring in celebrity instructors to create a course, teach the course and distribute it without keeping them on staff,
Programming 101 – Taught by Bill Gates, prerequisite for 201 by Steve Jobs…
Money sticks: I know from experience that cash (hard money) is so passé, just from the looks I get when I hand the cashier paper bills and she rolls her eyes before trying to figure out how to open the drawer and count out cash, all the time giving me the “why can’t you just swipe it” look. Face it we live in a virtual world where I can debit my bank account, wave my visa card, or email money from one account to anyone else, but if I wanted to give you $100 I have to wonder if you have a pay pal account, otherwise I’ll have to walk over to the bank and take the cash out.
In the future (sci-fi) I’ll just wave my money chip stick at your and there is the $100 bucks in your account minus a quarter percentage for the transfer…imagine that, taking a quarter percentage of all the worlds money transfers…in the Northeast blackout of 2003 they claimed that New York City lost $10 million in sales, that would be $25,000 in one city in one day if YOU had the licensing rights to the technology that made Money Sticks safe and secure, easy to use, reload from your account as long as you had not exceeded your daily spending allotment (set by yourself or your financial consultant) and knowing that if lost or stolen your money would be back in your account.
Customizable Style Furniture: Warning this may require an engineering degree or five, but one of the greatest booms in furniture in recent years had been the take it home in a box and built it yourself craze, why? At the end of the day you stand next to your wobbly bookcase and scream at the top of your lungs, LOOK WHAT I BUILT! You love it, I love it, we all love DIY.
So what would construction blocks for adults look like? Customizable furniture that comes in bits and not only do you build it yourself, but you create the style.
Soybean Futures: With the rise in ethaol popularity has anyone ever thought of buying up soybean futures? Has history taught us anything something rising in popularity will make more and more money in the future, as long as you sell on Feb 3rd.
YKK has a 90% share of the world wide zipper market. Oh any 100% of the zipper making machine market, that’s right they build all the machines that build zippers, sure it’s niche put how many pieces of clothing use zippers anyways…