Run With It

Run With It

Need a business idea? Run With It shares unused business ideas from successful entrepreneurs, including the exact steps they would take to launch them. If you're looking for a ready-made business idea, proven founders are sharing them every week on Run With It.

Episodes

August 26, 2021 1 min

For the next few weeks, you won't see new episodes because we're taking a short break. We'll be back October 1st. In the meantime, listen back to our catalog of 100 past episodes.

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Mark as Played

In this episode Chris and Eathan get personal about what's going on in their family lives, their business lives, and their podcast lives. 

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Mark as Played
August 5, 2021 30 min

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Nuggets:

  • Currently there is more aluminum stored in landfills than in the mineral where aluminum is sourced in nature. 
  • Not all landfills are created equal. Landfills near industrial areas contain more metals like steel, aluminum, and iron. 
  • Jevons Paradox could be leveraged: The paradox occurs when technological progress or government policy increases the efficiency with w...
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    Action Steps:

  • Investigate current revenue split for concert venues  
  • Search for the managers/decision-makers of concerts at large venues  
  • Contact them via a cold call, email, or LinkedIn message  
  • Offer to run a trial event which you can help them presell a live stream of their upcoming concert  
  • If enough fans buy in, then produce the first event (keep a production budget o...
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    Nuggets:

  • Many investors who buy a business trip up over simple operational details (e.g. forgetting to renew a domain name). Michael has seen this happen time and again.
  • Action Steps:

  • Generate your opportunity to break into the space:
  • Start a podcast
  • Host an event
  • Connect with recruiters who can source talented business managers
  • Buy an existing business with the audience you wa...
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    Nuggets:

  • The next wave in creative domains is often defined by those who master the tech that disrupt what’s already being done
  • Action Steps:

  • Start by offering AI services that assist writers in tweaking their content (e.g. “overcome writer’s block!”)
  • Then offer a contract to some of the best writers for a publishing contract
  • Optimize not only the writing but also the marketi...
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    Nuggets:

  • If you are entering an industry with long sales cycles, hiring a salesperson with experience and relationships in the industry can move you forward a lot quicker.
  • You can leverage already approved cloud service agreements to short circuit the enterprise sales process
  • Action Steps:

  • You have a few avenues to pursue and each has its own first steps;
  • Start creating your ...
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    Nuggets:

  • The total addressable market for this idea is over 16 million individuals in the U.S. alone. 
  • Action Steps:

  • Partner with member of the community 
  • Research applicable grants 
  • Links:

  • https://www.packupgo.com/
  • https://www.cdc.gov/ncbddd/disabilityandhealth/infographic-disability-impacts-all.html
  • https://skift.com/2017/11/16/airbnb-buys-accessible-travel-business-accomable-...
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    Nuggets:

  • Parenting is a secure market! Over 3.5 million births in the US and 140 million worldwide will continue each year.
  • Action Steps:

  • This is a great business idea for an aspiring entrepreneur without an idea but that’s nervous about supporting a growing family.
  • Start with a cohort of expectant parents and partner with a handful of high-profile child development, mindful...
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    Nuggets:

  • Dave's Cardinal Rule: Always Be Adapting (ABA)
  • Action Steps:

    1. Look at user feedback from poorly reviewed competitors in the app store
    2. Spend only a few hundred to a few thousand dollars developing a Chrome extension 
    3. Collect user feedback
    4. Expand to other channels like LinkedIn, Instagram, Pinterest, and Twitter

    Links:

  • Kindlepreneur: Book Marketing for Self...
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    Nuggets:

  • When you build a business realize that your community of clients may be more valuable than the money they give you. You can always build additional products and services that they need. But without an audience, you have no business.
  • It’s okay to provide different amounts of compensation to co-founders based on their needs at a given time, but it’s also useful to s...
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    Nuggets:

  • You can often dominate a local business niche by implementing current marketing and technology (e.g. residential cleaning)
  • People often get excited about new tech (drones, 3D printing, etc…) but their enthusiasm wavers before the breakthrough tech makes a sizable impact on the real world. There’s plenty of opportunity implementing tech from five years ago.
  • Action S...

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    Nuggets:

  • Plant a lot of seeds in the early stages of your business and see what grows. You may be surprised by the results.
  • Action Steps:

  • Sell the vision to large companies (think IBM, Google, Amazon) in order to get a sponsorship
  • Ask school teachers in your area to send you students that that are selling things to their classmates
  • Recruit entrepreneurs to mentor students, bo...
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    Nuggets:

  • Startups like Uber and GreenPal succeeded by giving the common person a top-tier experience
  • Action Steps:

  • Get a job as a concierge in a luxury hotel and note the ingredients essential to a smooth, positive and remarkable check in experience
  • Discover ways to automate the most remarkable check in experiences. You could implement an app that senses location, includes p...
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    Nuggets:

  • Aside from the hype, there are many smart people excited about the practical potential of blockchain and NFTs
  • Steveblank.com offers an incredible resource for entrepreneurs
  • There are multi-billion dollar opportunities for companies that help crypto “cross the chasm,” making it more accessible to mainstream audiences
  • Action Steps:

  • Get your own crypto security and succ...
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    Nuggets:

  • Successful businesses are incredibly focused. This often manifests as simplicity.
  • When you’ve got high volume you can negotiate credit card fees down to 1%
  • Action Steps:

  • Contact political candidates and pitch them on the benefits of a more transparent fundraising and spending platform
  • Be simple with your strategy. Create a simple platform to collect donations and a s...
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    Nuggets:

  • There’s no need to partner with a developer if you haven’t already built a relationship.
  • Agencies encounter great app ideas all the time but don’t have the bandwidth to pursue them.
  • Hire the most expensive resource you can afford.
  • Shopify is rapidly expanding their API access; now is a great time to build an app there.
  • Action Steps:

  • Search Reddit, Quora, Facebook grou...
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    Nuggets:

  • If an idea is doomed to fail, it’s best to find that out as soon as possible. You don’t want to get stuck in the uncertain middle ground
  • Action Steps:

  • Research what happened to defunct trip planning apps (WorldMate, Google Trips, Kayak Trip Huddle)
  • Talk with unsatisfied users of TripIt
  • Create programmatic landing pages for “Napa trip itinerary” etc...
  • Links:

  • Topic: The...
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    Nuggets:

  • The competitor software you create for early adopters may appeal by solving a specific complaint they have about the dominant solution. Later other’s will join just to join the crowd.
  • Action Steps:

  • Investigate why people log in to LinkedIn; prioritize those functions in the new platform
  • Conversely, research what are the biggest complaints people have about LinkedIn
  • R...
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    Nuggets:

  • You can license an expensive domain name, if you need it for SEO or marketing but don’t have the capital in your business yet.
  • If a client takes advantage of you or your idea gets stolen consider the odds of it happening again before wasting time on reparation or retaliation.
  • Action Steps:

  • Brainstorm incentive structures with a behavioral economist
  • Wireframe the app ...
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    Mark as Played

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