The idea is probably the most important part of entrepreneurship. It’s akin to the big bang at the start of the universe. It’s the foundation on which to build a business. How many times have you said to yourself “if only I thought of that”? Idea management from creation to communication to action has moved to center stage. Particularly, in the current economic situation where innovation is required to create jobs and help the global economy recover.
Jeff Frutkin understands the importance of ideas and has taken action to help entrepreneurs along the path to success. He has set up IdeaArchitectsOnline.com and SmarterLeap.com to facilitate idea sharing among the entrepreneurial community. I had the chance to talk with Jeff about his websites.
Q: Why is the idea central to the success of a new business?
A great idea will immediately give you a competitive advantage in a growing market, making it significantly easier to build a long-term business. When successfully executed, a great business idea will produce stunning results!
We believe that the best business ideas represent solutions to problems that make things better, easier, faster, or more efficient for the everyday consumer. And, the bigger the nagging, aching customer need, the better – where the gap of dissatisfaction is so huge that the customer will do almost anything to obtain the solution!!
Q: Recently, a large number of highly skilled people have lost their job. Do you see entrepreneurship as a viable move for them?
Absolutely. In fact, many people that recently lost their job are flocking to entrepreneurship as a viable alternative to regular employment. For many of these new-found entrepreneurs, starting a business was always a far-off dream, but with the perfect storm of a layoff and a weak job market, they’ve have decided to take the plunge.
There are many advantages to entrepreneurship including:
• Being your own boss. You make the decisions and choose who to do business with. You also decide your hours, compensation and time off.
• Entrepreneurship offers a greater possibility of achieving significant financial rewards than working for others, especially in a down economy.
• Entrepreneurship provides the ability to “wear many hats” and to be involved in the total operation of the business.
Q: A lot of people look at franchising when they are initially thinking about starting up a business. Is there another option that they should investigate before they spend tens of thousands of dollars on a franchise?
We recommend visiting the website www.SmarterLeap.com before spending thousands of dollars on a franchise. SmarterLeap.com provides aspiring entrepreneurs with original business ideas that have the potential to become multi-million dollar companies.
SmarterLeap taps into a network of really smart and creative people (we call them Idea Architects) to generate ideas that have yet to be imagined in the world of business. Our proprietary process screens each idea for things like revenue potential, level of investment and uniqueness, among other criteria.
If a SmarterLeap member finds a business idea that matches their vision and talents, they are free to run with it and develop it as far as they wish without any obligation.
In addition to providing an extensive database of novel start-up ideas, SmarterLeap also offers business planning services. These services are designed to give you a clear road map for launching a SmarterLeap idea, and to help you get funding from friends, family and angel investors, if needed.
Q: Specifically, what are the services available on SmarterLeap.com?
Our core service is providing entrepreneurs with new-to-the-world business ideas that have the potential to be successful businesses with relatively low start-up costs. The ideas range from original web 2.0 sites and unique service businesses to new product innovations and compelling retail concepts.
The cost to join SmarterLeap.com is only $9. For this small fee, you get:
Unlimited access to search SmarterLeap’s idea bank, with in-depth descriptions of each innovative concept
30+ new business ideas are added to the site monthly
Free reign to begin building your business using an original SmarterLeap concept
Eligible to utilize Premium Member services
If you are an aspiring entrepreneur, and you don’t have a viable business idea, SmarterLeap is the perfect resource for you.
SmarterLeap will also provide members with a comprehensive business plan for a SmarterLeap business idea. Along with the standard business planning elements, we include a specific go-to-market strategy, a detailed project plan for launch and identification of the right vendors for your business. This document serves as a blueprint to launch a SmarterLeap business concept.
Q: IdeaArchitectsOnline.com is another fantastic site where people can channel their creativity and submit business ideas that are then reviewed, and if approved, can be used by entrepreneurs with the resources to build a business based on the original idea. How did you come up with the concept for it?
I’d been looking for a unique idea for a business for the last several years. I came across dozens of websites that claimed to have “new business ideas”, however, these sites simply published existing small businesses or reported on ideas that were started by other entrepreneurs. Further, many of the ideas were recycled from site to site and offered limited revenue potential and competitive advantage, especially to an entrepreneur looking for an invaluable idea to call his own.
I founded IdeaArchitectsOnline.com to bridge the gap in the marketplace. Our goal is to generate thousands of innovative ideas to give aspiring entrepreneurs inspiration for new businesses.
Q: If someone has an Idea for a new business and would like to use IdeaArchitectsOnline.com. What are the steps that they need follow?
IdeaArchitectsOnline.com believes in keeping the process simple, fun and rewarding for people to share their compelling business ideas. In a nutshell, here’s how it works:
1. Using your creativity and intellect, dream up original business ideas.
2. Go to our Submit an Idea page and enter your business idea.
3. If the Review Team approves your idea, we will compensate you for it.
You can track the status and compensation for each submitted idea by logging in to your account profile.
Q: How do you see the role of entrepreneurs in helping the economy get back on track?
Most experts believe that entrepreneurs and business owners are playing a critical role in helping turn around the national and global economy. Entrepreneurs create employment, pay taxes, and often offer new products and services which stimulate the economy. Entrepreneurs also tend to take risks where big companies won’t, which can lead to substantial job creation in the future.
Thanks very much Jeff. I’m sure the readers of this blog can benefit from the services on both SmarterLeap.com and IdeaArchitectsOnline.com.