Alot of new people in the world of entrepreneurship struggle with coming up with an idea, so I will give you a free idea I'd love to see someone execute on. I'm pretty sure the majority of people struggling to come up with an idea and stumble upon this thread will not execute on it and opt to go for something cooler, like finding $10,000,000 for their startup to compete with Tesla, or partner up with their buddy to create another crappy website.
Ok, let's begin. I'll start off by saying that because you are new to this, you will totally suck at doing business, not to discourage you, but to just open up your eyes and face reality. I'm talking from my own personal experience.
#1 You don't know what you are doing
#2 You have no idea how to sell
#3 You have no idea how to market
Along with a million other things, you will quickly discover problems constantly pop up.. Even when you do think you have it ''figured out'' The point of all this is you need to learn all these process's. Take any successful entrepreneur and have them race against someone that has never started a business to create $1,000 in revenue. Who wins? Get the point? Great. Let's start learning.
Industry Insights
The global writing instruments market size was valued at USD 13.9 billion in 2018.
Hmm, writing instruments..you mean like pens and pencils? Yep! How much does a pencil cost to produce? And what cost do you think you could buy it at?
So about 10 cents a pencil you could sell at retail, is it possible you could buy tens of thousands of pencils from a factory and sell them somewhere online or in retail? Absolutely!
But wait, this idea sucks and I want to make huge profits to buy Lambos and Mansions! Oh? Do I hear a heckler in the crowd? Check this out below.
Faber-Castell is one of the world's largest and oldest manufacturers of pens, pencils, other office supplies (e.g., staplers, slide rules, erasers, rulers)[1] and art supplies,[2] as well as high-end writing instruments and luxury leather goods. Headquartered in Stein, Germany, it operates 14 factories and 20 sales units throughout the globe. The Faber-Castell Group employs a staff of approximately 7,000 and does business in more than 100 countries.[3] The House of Faber-Castell is the family which founded and continues to exercise leadership within the corporation. They manufacture about 2 billion pencils in more than 120 different colors every year.
Oh? A simple set of products generates nearly a Billion dollars yearly? The point I'm trying to make here is that it's not about the product idea, it's mostly about the execution. How many people would start dropshipping pencils from alixpress on Shopify driving traffic with just facebook ads then giveup after they make $0 in sales? I'd say quite alot. Now ok, before you start ordering thousands and thousands of pencils, another point I'd like to get across is the execution part.
The way the company above executed followed a different way of conducting business and during that process I'm sure they had to learn the ropes. So I challenge you kind reader, can you buy a set of pencils, and successfully sell them for a profit? That is a small (but massive step) you can take in your entrepreneurial journey, maybe you won't actually create a multi billion dollar company just selling pencils..........
But you will learn the process of how to build a multi billion dollar company
Then perhaps in your next venture after you fail the first which is extremely likely, you can have some success, it's all about building up your skill set and experience points, just like in a video game you ''level up business skills''
Have a great day.
Ok, let's begin. I'll start off by saying that because you are new to this, you will totally suck at doing business, not to discourage you, but to just open up your eyes and face reality. I'm talking from my own personal experience.
#1 You don't know what you are doing
#2 You have no idea how to sell
#3 You have no idea how to market
Along with a million other things, you will quickly discover problems constantly pop up.. Even when you do think you have it ''figured out'' The point of all this is you need to learn all these process's. Take any successful entrepreneur and have them race against someone that has never started a business to create $1,000 in revenue. Who wins? Get the point? Great. Let's start learning.
Industry Insights
The global writing instruments market size was valued at USD 13.9 billion in 2018.
Hmm, writing instruments..you mean like pens and pencils? Yep! How much does a pencil cost to produce? And what cost do you think you could buy it at?
So about 10 cents a pencil you could sell at retail, is it possible you could buy tens of thousands of pencils from a factory and sell them somewhere online or in retail? Absolutely!
But wait, this idea sucks and I want to make huge profits to buy Lambos and Mansions! Oh? Do I hear a heckler in the crowd? Check this out below.
Faber-Castell is one of the world's largest and oldest manufacturers of pens, pencils, other office supplies (e.g., staplers, slide rules, erasers, rulers)[1] and art supplies,[2] as well as high-end writing instruments and luxury leather goods. Headquartered in Stein, Germany, it operates 14 factories and 20 sales units throughout the globe. The Faber-Castell Group employs a staff of approximately 7,000 and does business in more than 100 countries.[3] The House of Faber-Castell is the family which founded and continues to exercise leadership within the corporation. They manufacture about 2 billion pencils in more than 120 different colors every year.
| Revenue | €887 million (2005) |
|---|---|
| Number of employees | 6,500 (2006) |
| Website | www.faber-castell.com |
Oh? A simple set of products generates nearly a Billion dollars yearly? The point I'm trying to make here is that it's not about the product idea, it's mostly about the execution. How many people would start dropshipping pencils from alixpress on Shopify driving traffic with just facebook ads then giveup after they make $0 in sales? I'd say quite alot. Now ok, before you start ordering thousands and thousands of pencils, another point I'd like to get across is the execution part.
The way the company above executed followed a different way of conducting business and during that process I'm sure they had to learn the ropes. So I challenge you kind reader, can you buy a set of pencils, and successfully sell them for a profit? That is a small (but massive step) you can take in your entrepreneurial journey, maybe you won't actually create a multi billion dollar company just selling pencils..........
But you will learn the process of how to build a multi billion dollar company
Then perhaps in your next venture after you fail the first which is extremely likely, you can have some success, it's all about building up your skill set and experience points, just like in a video game you ''level up business skills''
Have a great day.
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