Balancing Creativity with Practicality

by admin on January 31st, 2009

In our last post we talked about the need for creativity in business to be balanced with an eye on practicality - creativity serving the business, not creativity for creativity’s sake.

I highlighted five simple ways to help keep them in balance, so today I thought it would be worthwhile to look at them in more detail.

Don’t reinvent the wheel.

Chances are that your business can learn from others both within, and outside, your industry. Look around to see what successful people in other fields are doing then adapt their solutions to your particular situation. It’s not cheating if you expand on a concept that came from somewhere else but don’t bother spending too much time copying your competitors – the idea is to stand out as an innovator, not be seen as a copycat.

Don’t be afraid to be different and pursue good ideas.

Setting yourself apart from the competition is essential in a competitive marketplace. So, when you do manage to have an epiphany at three in the morning, don’t be afraid go after the idea. That said; there’s rarely a need to gamble the farm on one idea. Big ideas are good but gamble small, test frequently and when you do fail (and you will), fail small and learn quickly.

Think twice before throwing out a “bad” idea.

Ideas that seem implausible, impossible or silly may still have potential. Even if the idea doesn’t have legs right now, it can often evolve into something more usable over time and with a bit of tinkering. Keep a file of ‘passed on’ ideas and go back to it from time to time.

Find your inspiration.

Inspiration comes in all shapes and sizes. Be inspired by anything and everything from fashion to websites to what the ‘big players’ in your industry are doing. Start a ‘swipe file’ of nice ideas from other businesses that you can adapt (or even outright copy) for your business. Often, a little work can help transform big business ideas into workable small business ideas.

Focus on the ‘big idea’.

Whatever ideas you do come up with to set yourself apart, remember why you’re striving for those new ideas in the first place – to help communicate your one big idea and make it work.

Are You Creative?

by admin on January 30th, 2009

Innovation and entrepreneurship - especially in the world of technology and Internet startups - are often looked on as ‘creative’ disciplines requiring a creative mind.

Certainly coming up with fresh business ideas - including ideas for growing or marketing your business - is part of what it means to be an entrepreneur.

However, many businesses and business owners get so hung up trying to be creative and imaginative that they forget to look after the simple things that are proven to work.

So how do you strike the right balance between solid basics and creative flair

  1. Don’t reinvent the wheel.
  2. Don’t be afraid to be different and pursue good ideas.
  3. Think twice before throwing out a “bad” idea.
  4. Find your inspiration.
  5. Focus on the message.

Even if you don’t feel that you are particularly creative or that your businesses is in particularly a creative industry, a little imagination and creative ‘desire’ can help differentiate you from the rest. Just make sure to balance that with a focus on the basics.

If your goal is to maximise your return on investment, creativity should serve the business - not the other way around.

In our new post we’ll look at those five points in more detail …

Starting a Business: Five Things to Do Over Christmas

by admin on December 24th, 2008

Christmas is a time to relax with your family and friends, eat too much food and indulge in a little too much alcohol.

Unless, that is, you are an aspiring entrepreneur.

In that case, Christmas is the perfect time to do some research and planning for your new business. Not only is 2009 just around the corner but, if you’re currently working for someone else, these few weeks are probably one of the few occasions when you can spend a day or two planning your business.

So what should you do?

Five Things to do for Your Startup this Christmas

  1. Work on your business plan: You’ve been putting it off for ages - nows the perfect time to put the finishing touches to your business plan (or get started if you haven’t already). Join acfuse for free to download our free business plan template.
  2. Do some reading: You can never know enough about your niche - or about starting a business. Use Google to help you find information about your niche and identify the people who are talking about it in blogs and websites. Then take a trip to your favourite bookstore (or Amazon for that matter) and find interesting new books about your niche or starting a business - a Christmas present for your business. You’ll also find useful articles in our business startup resource section.
  3. Build Your Profile: Create profiles on relevant social networking sites and forums. LinkedIn is great for building business contacts. Twitter can help you find people who are active in your niche. Acfuse.com is great for finding investors and partners (if we do say so ourselves). And forums are always good for building your profile and keeping up-to-date with what’s going on.
  4. Start a blog: A blog is a great way to give your business personality, demonstrate your expertise and attract new visitors to your website. Even if you haven’t started your business yet you can always start blogging about your experiences as an aspiring entrepreneur or use it to provide useful information in your niche (building your reputation and contacts for when you do launch).
  5. Think: Set aside a day, if you can, just to think about your business. Find somewhere that you won’t be disturbed. Bring a pen and lots of paper. Then just think. Ask yourself questions. Challenge your ideas and see how you might be able to improve them. Sometimes just a few hours thinking can help you define your strategy and even come up with exciting new ideas. If nothing else, you should walk away reinvigorated and ready to move your business forward.


Have a great Christmas!

Six Questions Your Elevator Pitch Needs to Answer

by admin on December 23rd, 2008

If you haven’t heard the term before, an elevator pitch is a short description of your business idea that you could deliver to someone in the time it takes to ride up a few floors in a elevator.

i.e. If you got into a lift with your perfect investor and had just a few moments to get them interested, what would you say?

Crafting a Great Elevator Pitch

  1. What does your business do? Keep it simple. If you can’t state what your business does in one sentence you need to be more precise.
  2. Who are your market? Who are you going to sell to. ‘Everyone’ or ‘anyone’ is not a good answer, an elevator pitch is about precision - who are your most likely customers? Give an indication of the size of this market. Why does this market need or want what you have to offer?
  3. How will you make money?
  4. Who’s on board? This will include your team, mentors, backers and even potential customers who have expressed an interest.
  5. Who are your competitors? Every business has competitors. They may be other companies, other solutions or even just the status quo. Answering this question will give your prospective investor some idea of the kind of market you’re playing in.
  6. What makes you different? What’s your USP (unique selling proposition), why is it relevant and is it lasting?


The easiest way is to start by writing your answers to these questions out. Don’t worry about how it sounds at first or even how long it takes.

Once you’ve written your answers, it’s time to edit. Try and get each section down to just one or two insightful sentences. If it’s good, you’ll get the chance to explain in more detail

Even if you never get stuck in a lift with your perfect investor, being able to give precise answers to these questions will help with everything from attracting mentors to hiring staff and developing business partnerships to selling to customers.

More than anything though, precise thinking leads to precise decision making in your business.

Seven Great Sites for Finding New Business Ideas

by admin on December 22nd, 2008

Whether you’re looking for an idea to start a business or ideas to grow your existing business, inspiration can often be found in what other businesses are doing.

Here are seven great websites for doing just that:


Springwise.com & Trendwatching.com

Springwise and it’s sister site Trendwatching utilise a network of thousands of individual spotters from around the world who all send in innovative new business ideas that they see or hear about.

Spingwise and Trendwatching give them context and show how they relate to bigger ideas.

Trendhunter.com

Trendhunter calls itself ‘the world’s most updated, largest collection of cutting edge ideas’. Everything from fashion trends to business ideas are represented and there are fresh ideas pouring in from across the globe 24 hours a day. It all seems a little daunting at first but if you spend a few minutes getting used to the site you’ll find plenty to keep your mind buzzing with ideas for days.

NicheGeek.com

Perfect inspirational fodder for small business - especially online business - ideas. Did you know that people make money suggesting domain names or that smashing plates in San Diego is a great new business idea.

KillerStartups.com

They review 15 online startups every day. What more do you need to know?

Innovation.alltop.com

If you haven’t come across AllTop before, it’s a categorised collection of the world’s top blogs. The Innovation category may be a little techie for some people but there are dozens of interesting sites to check out and keep up-to-date with the latest thinking and innovations.

StumbleUpon.com

Install the Stumble toolbar, tell Stumble what you like and then let it bounce you around dozens of websites in your niche. 90% of what you find might just be a diversion but even if 10% of what you find gets you thinking, it could be well worth 20 minutes of your time.

Oh, and don’t forget to give us a little Stumble too.