Where do million dollar ideas come from? Do they appear fully-formed in the mind of an inventor or entrepreneur, or are they developed step by step, over time? Million dollar ideas can be products and/or services. Think of the iPhone, then think of Uber. One is a physical product that we covet. The other is improvement on hailing a taxicab.
Every day, all around us, in every aspect of our lives, we can find unique, game-changing ideas that were brought to market, and made their owners wealthy. At least a million dollars worth right? Whether you are an employee, or a business owner, you have at times thought of what it would be like to have a breakthrough idea or invention that makes you not just merely rich, but fantastically wealthy.
This section of FindmeChicago will explore a few “million dollar ideas”, in a case study format: where they come from, who has them, and how we can cultivate our own ideas. By profiling and analyzing examples of million dollar ideas, we can discover what each has in common, and what uniquely sets them apart. We will look at ideas in a variety of industries: consumer products, publishing, entertainment, industrial, etc.
Sometimes, a great idea, or solution, can lead to more money-making ideas. One or more of the case studies will be of companies with an initial idea that spawned further ideas as good or better than the first idea. An individual who has more than one great idea can be called brilliant, or a genius. A business that has great idea after great can be said to “innovative”. Even before getting into specific examples, we know that the number one characteristic of people and businesses that generate blockbuster ideas is a belief and self confidence in the idea, that can be the difference between success and failure.