What is the difference between a business and a business idea?
In the dictionary, business is defined as:
Main Entry: busi·ness
Pronunciation: \?biz-n?s, -n?z, Southern also ?bid-\
Function: noun
Usage: often attributive
Etymology: Middle English bisynesse, from bisy busy + -nesse -ness
Date: 14th century
1 archaic : purposeful activity : busyness
2 a : role, function <how the human mind went about its business of learning — H. A. Overstreet> b : an immediate task or objective : mission <what is your business here> c : a particular field of endeavor <the best in the business>
3 a : a usually commercial or mercantile activity engaged in as a means of livelihood : trade, line <in the restaurant business> b : a commercial or sometimes an industrial enterprise; also : such enterprises <the business district> c : dealings or transactions especially of an economic nature : patronage <took their business elsewhere>
4 : affair, matter <the whole business got out of hand> <business as usual>
5 : creation, concoction
6 : movement or action (as lighting a cigarette) by an actor intended especially to establish atmosphere, reveal character, or explain a situation —called also stage business
7 a : personal concern <none of your business> b : right <you have no business speaking to me that way>
8 a : serious activity requiring time and effort and usually the avoidance of distractions <got down to business> b : maximum effort
9 a : a damaging assault b : rebuke, tongue-lashing c : double cross
10 : a bowel movement —used especially of pets
synonyms business, commerce, trade, industry, traffic mean activity concerned with the supplying and distribution of commodities. business may be an inclusive term but specifically designates the activities of those engaged in the purchase or sale of commodities or in related financial transactions. commerce and trade imply the exchange and transportation of commodities. industry applies to the producing of commodities, especially by manufacturing or processing, usually on a large scale. traffic applies to the operation and functioning of public carriers of goods and persons.
synonyms see in addition work
The reason I have pasted the above here is that, every day, I get calls from people asking for business help, and what I see myself doing most often in working with them is trying to find out how the idea, product, or thing that has been thought up can be translated into a viable business that is not just a good idea, but also makes money.
Most of the people who reach out to me have great ideas, but not much business sense behind their ideas. What we do here at Box of Rain is to help individuals and companies take their great ideas and turn them into viable business concepts and models. We do this in a variety of ways with clients, depending on a host of questions, activities, and research with each client.
Business is what we help people achieve, and sometimes there is a long path to walk down before that can happen. One thing that we do is really work with our clients to see how the "business" that they have come to us to help them with can actually support itself in the long term. Remember, every business does not make a profit when it opens its doors. Sometimes it is a painful process to understand that you have a great idea that is not a business by itself. In this case we work with the individual(s) to see how to convert the singular idea into a viable business.
Recently we had a meeting with a great lady with an amazing idea, and we started with very friendly conversation about her product concept. She was sure it was a great business, but after a series of questions and some discussion, she came to realize that while she had a great product concept, it was not a business that could stand on its own. She got very defensive, and we had to work with her to get her to a better place and help her realize that she really had a great idea that would work if she licensed her concept to some already existing business. This will help to get the concept out there, and maybe someday she will have enough ideas and money to develop it into its own business.
At Box of Rain, we really work hard to help the creative inventors figure out how to make a buck off of their concept or invention. We also work with the concept team to refine the concept so it can be a business or can support or complement an existing product or service. We also work with the inventors to help them treat their concept like real business instead of just an idea. This also helps those whom you are asking to invest or trying to sell to feel like you are taking this seriously, so they are more likely to work with you.
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- Leonard Shostak's blog
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