Starting with a clean slate is sometimes a good idea. Especially if things start to get out of hand and you have so much on your plate that you have to press the reset button. If you are artistic in nature, the empty canvas is your starting point. Continue reading to find out how this can be applied to your business ideas!
A lot of bad things happened in 2016. In my case it was retrenchment, followed by downgrading banking accounts, cancelling gym, insurance, armed response, the list goes on. I also had some recurring health challenges to deal with. On a more positive side, I did some contracting work, built proto-type electronic boards, delved deeper into Arduino prospects and had our home renovated to open the possibility to generate some recurring revenue from rental.
Lately I also looked at my options to kick-start the business. What business you may ask? Well, I have been looking at several ideas and an old colleague even looked the possibility of buying an ACDC Express franchise. When we were faced with the enormous task of putting together a formal business plan for the franchise we hit a solid wall. I could not find evidence from any of the similar sized and location franchises that this was a profitable venture. Apart from that, it would have been impossible to raise the 3.2 million rand startup cost required, and even more so with a unconvinced business partner.
All this searching led me to some good info provided by the Swiss guy Alex Osterwalder who became famous for creating a business model evaluation tool called the Business Model Canvas. Later on he expanded these ideas with the Value Proposition Canvas which elaborates on the most important aspect of every new business starting point. In the next few weeks I will be looking at all my startup ideas through the lens of these tools to see which of them will be viable. It will ensure a much better chance of success, because it is a known fact that a very high percentage of new startups fail within the first few years.
Here is a list of ideas that I am considering:
- Aquaponics on large scale
- Health app for mobile
- Automation with micro processors
- Property investment
- Network marketing
- Freelance consulting
- Green living designs
I hope to bring you updates on these exercises. Please feel free to reach out with more ideas if you like.