Turning your Ideas into Business1

© Ayo Alex Alao (www.jetheights.com) 1


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TURNING YOUR IDEAS

INTO BUSINESS

What are Ideas?

Ideas are like seeds: plentiful, inexpensive, easy to access.

A thought or collection of thoughts that generate in the mind as to a possible course of action. Usually generated with intent, but can also be created unintentionally.

Ideas are sometimes called dreams, visions and fantasies.

Ideas are like Lego Bricks…© Ayo Alex Alao (www.jetheights.com)


Ideas are Like Bricks

They Happen when…We connect the bricks to

make something NEW.OR

Add a NEW brick to an already-made design.


Ideas Rule The World

Literally:

#Yes We Can#Change#Forward Nigeria


What’s a Small Business Venture / Startup?

A small business is an organization or enterprising entity engaged in commercial, industrial or professional activities either for-profit or non-profit.

A startup is the Early stage in the life cycle of an enterprise where the entrepreneur moves from the idea stage to securing financing, laying down the basis structure of the business, and initiating operations or trading.

Generally speaking, to operate a small business venture, you don’t need a big market. Startups easily reach a large market because they traverse time and space – people can buy from you

or use your product regardless of whether you’re awake or not.


How BIG is your small Idea?


The World’s 10 Most Valuable Brands (Ideas) 2015


Top 5 Richest Brands (Ideas) 2016 [Value in Billions]


Let’s Get Social!

#TheLead2016

Meet Your Neighbours

© Ayo Alex Alao (www.jetheights.com)

Types of Business Ideas

Innovative IdeasCommoditized IdeasHybrid Ideas

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Innovative Ideas

The term "innovation" can be defined as something original and more effective and, as a consequence, new, that "breaks into" the market or society.



Commoditized Ideas

Ideas of businesses that have been around for a long time that do not have to innovate, and can still be great businesses. Businesses such as Spare Parts Sales, Car Wash, Fish farming, Poultry, Dry Cleaning, Fast Food, Pure water production etc.


Hybrid Ideas

The kinds of ideas which borrow a little bit from both, the commoditized types of ideas and the innovative.


OK! Let’s Break It DOWN!

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Ideas: #Challenges



Ideas: #IdeaHacks


Ideas: #Differentiation


Ideas: #PainStorming


Ideas: BlueSky


Ideas: Disruptive

23Getting “Idea-Chocked”?

Relax &

Write it DOWN



Download a Business App: “Entrepreneur Daily”


My Latest Ideas: TeachMe.ng


My Latest Ideas: #StarsConnect

• Text: 09050888890• Email: [email protected]


Ideas To Business: Simple Rules


Turning Ideas to Business: Simple Rule #1

Be Passionate about solving a problem!The Money will come later.



Never Throw away your Ideas

Don’t Think your ideas are #Rubbish


Turning Ideas to Business: Simple Rules #3

It’s Simple!Remember RomeRemember FacebookSolve One Problem, with

One Product, for One Customer!



Your idea must have a message.The success of your Marketing

depends on the clarity of your message.

Your message must not be more than 1 line.



What’s your USP?Your idea must have a Unique Selling Point.

Be DifferentDevelop a secret sauce!Stand out from the crowd



One Revenue Stream

Focus on one revenue stream at a time


Ideas to Business: Simple Rules. #7

Few Steps to Revenue

How many things need to happen before you make your first dollar or naira?

Identify all stakeholders involved & eliminate all complexities.

Not more than 3 steps to revenue is ideal.



Know Thy Customer

Who is your first potential client?

Identify that 1 person who desperately needs your product or service.


With IDEAS, there are No

RESTRICTIONS!“If you can imagine it, you can achieve it. If you can dream it, you can become it. – William Arthur Ward”What if Questions!




To dominate & rule the marketplace, you have to master it!

If you’re not an expert, then GET TO WORK!

Master the Market



Ecclesiastes 3:1There is a time for everything,and a season for every activity under the heavens:1 Chronicles 12:32Of the sons of Issachar, men who understood the times, with knowledge of what Israel should do, their chiefs were two hundred; and all their kinsmen were at their command.

Understand the Times & Seasons

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STOP the EXCUSES!

Are your Excuses BIGGER than your DREAMS?

You can have EXCUSES or RESULTS, not both.

People with lesser ABILITIES are doing much more…



Be Great at One Thing, FirstBy focusing on one passion or strength, you can actually be more innovative. The deeper understanding you gain by doing one thing opens up creative new ideas.

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PRAYThe GOD-FactorP-U-S-H Faith Rocks!




ActionChangesThingsWhile you’re thinking about it, someone

else is working on it!Start Something Today!

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FINDINGORIGINALCREATIVEUNIQUESOLUTIONS

Feed Your FOCUS



Read, Read & ReadReaders are Leaders!If we encounter a man of

rare intellect, we should ask him what books he reads. –Ralph Waldo Emerson

Read your way to the TopYOU ARE WHAT YOU READ!


30 Books I RECOMMEND for Super Success

1. 101 ways to make Money in Africa (e-book)2. 50 organizations that can give you money to start and

grow your business in Africa (e-book)3. The Parable of Dollars: Proven Strategies for Your

Financial Success – Sam Adeyemi4. Rich Dad, Poor Dad – Robert Kiyosaki5. How To Win Friends and Influence People - Dale Carnegie6. The Richest Man in Babylon - George S. Clason7. Think and Grow Rich - Napoleon Hill

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30 Books for Super Success

8. The 9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying – Suze Orman

9. The 7 Habits of Highly Effective People – Steven Covey10. Way of the Peaceful Warrior: A Book That Changes Lives - Dan

Millman11. The Law of Success In Sixteen Lessons - Napoleon Hill12. Acres of Diamonds: All Good Things Are Possible, Right Where

You Are, and Now! - Russell H. Conwell13. As a Man Thinketh - James Allen14. Maximum Achievement: Strategies and Skills That Will Unlock

Your Hidden Powers to Succeed - Brian Tracy

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30 Books for Super Success 15.The Seasons of Life - Jim Rohn 16.See You at the Top – Zig Ziglar17.The Magic of Thinking Big – David J. Schwartz18.The Power of Positive Thinking - Norman Vincent19.Awaken the Giant Within : How to Take Immediate Control of

Your Mental, Emotional, Physical and Financial Destiny! - Anthony Robbins

20.Developing the Leader Within You - John C. Maxwell21.The One Minute Manager - Kenneth Blanchard22.Good to Great: Why Some Companies Make the Leap...And

Others Don't - Jim Collins


30 Books for Super Success 23. The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish

Rich David24. The Greatest Salesman in the World - Og Mandino25. The Sales Bible: The Ultimate Sales Resource: Including The 10.5

Commandments of Sales Success - Jeffrey Gitomer26. Who Moved My Cheese?: An A-Mazing Way to Deal with Change in

Your Work and in Your Life - Dr. Spencer Johnson27. Chicken Soup for the Soul Series - Jack Canfield and Mark Victor28. Success Through a Positive Mental Attitude Napoleon Hill and W.

Clement Stone29. Excuses Be Gone - Dr.Wayne Dyer30. The Magic (The Secret) - Rhonda Byrne


Now Running a Business?

Plan & Stick to ItInnovation is KEYMake Money, Save

and Re-investMaster the Market

& your Customers


Summary

No idea is perfect. You have to choose between the extra costs and

slow growth of traditional types of businesses. Or you have to accept the higher risk of failure for technology based businesses.

No matter what kind of a business idea you eventually choose, over a long time, you will have to work incredibly hard to make that business a success. So make sure the idea you choose is really the right one for you. And as always, I, Ayo Alex Alao, wishes you the best of luck with your business.


Contact: Need more help?


Resources

• http://www.statista.com/statistics/264875/brand-value-of-the-25-most-valuable-brands/

• http://howafrica.com/100-ideas-to-start-a-profitable-business-in-africa/• http://howafrica.com/10-best-african-websites-that-help-you-identify-business-

opportunities-in-africa-2015/• http://www.forbes.com/powerful-brands/• http://www.businessinsider.com/9-ridiculous-ideas-that-made-people-ridiculously-

rich-2011-3?op=1• http://www.buzzfeed.com/expresident/best-ideas-ever• http://www.merriam-webster.com/dictionary• http://www.jamesaltucher.com/2014/05/the-ultimate-guide-for-becoming-an-idea-

machine/


Resources

• http://howng.com/20-profitable-business-nigeria/• http://www.lifehack.org/articles/productivity/too-

many-ideas.html• http://www.businessdictionary.com/definition/

startup.html• http://ebookfriendly.com/best-quotes-books-reading/• http://visual.ly/10-rules-great-startup-idea• http://www.readyfounder.com/2013/10/the-

commoditization-of-ideas/

Documents

Turning your Ideas into Business1