July 30, 2006
Using Trends For Business
British entrepreneur Duncan Bannatyne was recently interviewed in the Sunday Times about how he found ideas to make money from.
I’ve never patented anything. I’ve never come up with a new idea. Nothing. But I’ve made £168m. So, how does that work? If you want to find a good idea for a new business venture, it’s not about inventing anything. The light bulb, telephone and wheel have all been done before. Don’t beat yourself up trying to split atoms.
Like me, follow the latest trends in all the newspapers. Keep an eye on whatever is getting the most press for a consistently long period of time.
Spot the trends and then follow the yellow brick road. If everyone’s doing it, so should you. The revolutionary concept that nobody has ever thought of before is for your ego, not your wallet.
Small Business: Duncan Bannatyne’s How to Win at Business - Sunday Times - Times Online
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