I just don’t have the free time to execute on every million dollar idea I have, so I am giving them away for free, royalty free, as in free beer and freedom some of my million dollar business ideas! With the right entrepreneurship attitude, you can take this idea to profitability.
Product Placement in Books – Advertisers invented soap operas just to advertise soap. Baseball cards started off as a marketing gimmick for cigarettes. Now, ads are as pervasive as the air we breath and it pays for a lot of the content we normally consider as free. But people don’t like to sit and watch ads, or billboards, or commercials so advertisers have developed product placement ads in movies, video games, and hip-hop music. One media that has not been monetized is the book industry. Imagine, classic with product placement from companies contemporary to the time the book was written. Pride and Prejudice with a supplement chapter or two dedicated to the products and services of the British East India Company! In this fashion, your company can be immortalized in literature. There is a business opportunity for the right marketer to embed ads to your products of services in fiction. For example, imagine the next Danielle Steel romance book being sponsored with embedded as by K-Y Yours + Mine Couples Lubricant that are part of the storyline.
Be a Pioneer – You might be asking yourself, how can I be a pioneer if the West has been won? By pioneer I don’t mean for you to settle in out West in some homestead, I mean be a social media pioneer. About this for a case study, Tila Tequila was one of the earliest pioneer on MySpace. As an early user of MySpace, Miss Tequila was able monopolize her network into a platform to launch a career. Okay, I know what you are saying, “Tila Tequila has a career.” Twitter has provided a number of examples where early Twitter adopter that leveraged the power of friendship and follower have done well for themselves. Zappos, the online retail store, has made it public that it has a Twitter course for new employees. To be clear, be a pioneer and leader in any new and up coming social media community. The truth, is that you can’t predict which and when a new social medium will gain traction or momentum but the cost to entry is usually small. And, as an early adopter, you will get online creed for reaching out to your customer base in new forms and fashion! Just think of it this way, you can’t be first in your industry to have a web page, but you might be the first to have a Twitter account! Monopolize your lead in new social forums to your competitive advantage.
Universal Order Number – A Universal Order Number is printed of your receipt at a restaurant, which I can go online to check for example a drive through order and to make a specific complaint, such as they forgot an order of fries. This can be be used as a market and customer service feature where you can get promotional material based on your recent purchase or where you can complain about missing items. This can also be used to generate customer service reports, as part of surveys for new product trials, provide health tips about the food purchased. Of course you can group orders and see the life time of your purchases. This service would not be complete without the ability to automatically complain or praise of the service via integration with Facebook and/or Twitter.
Gender Specific Foreign Language Books – When a women goes to a foreign country they need a phrase book specific for their needs. A foreign language phrase book for women would help with translations such as: What size is it? Does it come in black? Do you have size 10?
Rating Service Bureau – One of the best business idea I have seen, next to credit card companies, are rating service companies. For example, there are companies that rate bonds, and other investments vehicles. That are service companies that rate individuals credit history. In theory, you can rate anything. You can rate different cell phone plans, quality of different bottled water companies, or rate travel packages. Rating companies such as Standard and Poor’s and Energy Star have become de facto rating services for their industries that they have become a focal point in the economic recovery and green initiative, respectively.
Insurance – Insurance are great business ideas. Insurance is like a tax, you can always come up with a new one. You can create new insurance policies, such as child support insurance to cover the probability of your baby’s daddy being a dead beat. You can create a new insurance policy for the probability that they will lose their health insurance. You can insure anything, it is like Vegas except you pay people not for winning but for a bad event happening to them.
1-800 Directory – They say those who can’t do, teach. Well, those that can’t create content, aggregate. You can be a aggregator for a particular service, such as 1-800-flowers or 1-800-dentists. Imagine, 1-800-Plumbers or 1-800-strippers.
National Day – Make a national awareness day for something. Like National Hispanic Month, National Secretary Day, or National Payroll Week. Celebrate that day, bring awareness to a cause, and sell souvenirs, gift cards, and promotional material. Don’t forget to trademark the idea, terms, and images behind it.
Namespace Land Rush – One great idea is to build into any service a limited namespace. For example, only one entity can own the domain name abc.com. Only one application can post an application on the Apple App Store for a given name. Only one user can have the Twitter @holla account. In addition to a namespace, develop the market place with the ability to buytradesell on this virtual limited resource.