FAQ
We get asked many questions by email and in person, and have tried to summarise the most popular one here. If you can't find what you are looking for and want additional help simply email brad@ideas2earn.com and we will try to help as rapidly as possible.
The service is Free, what do you get out of it?
We at Ideas2earn are in business, just as we are encouraging others to be. Our income is expected to come from advertising and from offering additional services such as training and seminars to our loyal members. There are also plans to publish a book with all 365 business ideas, and we offer a consultancy service on a case by case basis.
None of your ideas is original, what makes you think I can compete with people who have been running their business for years?
One option is not to compete but to find segments of customers that are not served by your competitors; other options are to offer additional services or benefits that your competitors do not offer.
Take the example of a book shop, opening online would seem dumb as Amazon has the market sewn up, but what if you could market your site as local to your area with same day delivery? A specialised subject matter such as text books might make this even easier to market. Alternatively you might open a shop next door to a segment that is likely to read a lot, such as a retirement home or University. If the overhead of a shop is too high you could have a weekly visit to the local homes with a variety of books and a list of your stock in large type to allow for ordering. If you have relatives living in this kind of environment you have the additional benefit of spending more time with them and maybe even involving them in your business.
You have thousands of members, aren't we all likely to start the same business and end up competing against each-other?
Unfortunately statistically speaking most people will not try to start their own business and those that do will mainly fail. Don't be discouraged by this, statistically if you quit smoking you are likely to re-start within 2 weeks but thousands or people quit successfully every year.
Despite the fact that we are removing one excuse (I can't think of a business idea) most people who read all 365 ideas will still not start a business. It is a lot of work and there are too many easier things to fill our time.
Those that do take action will be in the minority, and will be geographically spread. The chances of you competing against another member in your locality with the same idea are tiny. We also try to provide a number of potential business models with every idea so that your choices are broader and hence your model is unlikely to look exactly the same as someone elses.
Why do you never recommend electrical appliances in your ideas?
We want to give you more than just an idea; ideally we can help you to think about finding suppliers, licenses etc and keep the barriers to entry minimal. Electrical appliances need to meet varying standards from market to market and may be regulated as well as having different power usage requirements. Many of the ideas on this site will be applicable to electrical items and we would not discourage you from taking an electrical related idea forwards.
I don't have any money, how am I supposed to afford stock?
I used this excuse for many years. The problem was that as my savings grew so did my requirements for larger returns. The truth is that many of these businesses can be started with little or no cash. Suppliers are becoming more practical and will take small orders.
Orders can often be taken along with a deposit prior to committing to orders from your suppliers. Alternatively a small loan from family or friends (a few hundred dollars) may be enough to get you started. If you are serious about getting into business there are ideas here which are practical and affordable, you will find what you need with some commitment and hard work.
How much hard work is required?
Nothing in life comes free. There is a saying that business is 1% inspiration and 99% perspiration. If you are not prepared to give up your nights in front of the TV, or at the local bar for a short while then business is not for you. Getting up early or working late is par for the course in every new business but you will be amazed at how little you miss your old lifestyle once you get the bit between your teeth.
How many of the 365 ideas should I use?
I believe that you need to be very focussed when you start out. Choose one idea that relates to something you are interested in, or enjoy. Study as much about the subject as possible so that you have some expertise, study business and marketing techniques that relate to your business and make it successful. Further down the road when everything is ticking over smoothly and you have trusted employees in place you can look again and see whether there are other ideas you would like to explore.
We will not be able to think of every question here, but are happy to add them as they come up. Please feel free to email us your questions and we will write back to you. If the question is a common one; we will also post it here for other readers.