SCRAP YOUR STARTUP IDEAS

Most of the successful business are traditional and boring.

Many budding start-up geeks are in constant search of new ideas that can be converted into businesses.

It is nothing more than an adrenal rush.

In the pursuit of originality, most start-ups end up creating something that is so incomprehensible that it fails to convey a clear message to its potential users.

I have done this mistake, and it was an expensive one.

When I reflected on my startup it while shutting down, it was made clear that there is nothing new to it.

It was unnecessarily complex and was trying to reinvent the wheel.

Business is simple.

“Business is built in basics, everything else is show off”

As at the end of the day whatever you start turns out to be a traditional business.

Nothing New

You are not doing anything new when you say the word business.

You are selling something in return for money. You buy something again for a lesser price and sell something with a margin.

The things that you sell can vary. It can be a service which virtually has a lower cost of production and operation. Or you can make a tech product which requires huge capital.

Basic remain the same. You are selling something.

Apple made computers in 1984 even though IBM had already doing it since 1981.

Test a new car on the old road — do not invent a road.

Apple contributed to the world of technology with many new innovations. Occasionally it borrows some innovative tech from other companies — like foldable screens from Samsung.

But the basics of business remain the same.

What makes you stand out?

A better product.

A better product is a package of good products and good service.

“Business is built on relationships, reputation, and results.”

This is the very formula that made Apple commercially Successful.

Brand

Not about the logo but how you feel about the company.

I will tell you a personal story.

I was on a business trip to Dubai. I wanted to buy something from Father while I was waiting for my flight.

I picked up a limited edition Bvlgari for him.

For the rest of the month smelled Bvlgari until he passed away.

I inherited the Bvlgari.

As an incense, and remembrance of my father.

I have felt strongly about the brand ever since.

It has instilled a selective perception about the Bvlgari products.

Why do I feel like this?

It was because of the personal story I had with the product.

As a luxury marketer, I am well-versed and aware of the effect my father\’s demise had on me.

But I couldn’t resist it, I didn’t want to fight the feeling too.

I wanted that connection.

This is the beauty of emotional storytelling.

And the brand is built on emotional connection. It propels the fate of perception beyond prices toward value.

Value we believe in and values we care for.

I smell and sound like my father (giggles)

Repetition and Multiplication

The success of any business depends on the repetition and multiplication

Can you repeat the same thing multiple times?

Manufacturing, marketing and message you are conveying with your product?

Furthermore, can these efforts be multiplied?

In short, can you employ resources to do the tasks on a mass level?

This is the very reason I love the concept of Network marketing.

It has a product with a proven track record (You don’t have to make one)

It has a marketing plan that can be repeated over and over again.

And the efforts can be multiplied by the team that joins under you.

It thrives on personal connections and stories.

I became a Forever Living Business Owner last month by the way.

But that is not the reason I am writing this post.

---

The idea behind this post is not to discourage creative thinking and endeavours in any way.

In fact, the world needs creative minds.

To see where other people are not seeing, to bring the unexplored corners and perspectives to light.

This post is just to remind you that whatever you think or do has already been done.

That is why finding something new is called discovery. It was already there which is dis-covered.

---

If you love what you read, and want more insights about business, marketing and luxury join my newsletter.