When hot air IS your business...

According to Greg Shugar in a recent column for Entrepreneur.com, there are four common types of Talkrepreneurs - a term used to describe the fine line between talking about a new business idea and acting on it.

Gadgeteneurs

Likelihood of starting a New Business: Miniscule

These people are the most common. Gadgeteneurs are those who come up with an idea for a new gadget that will supposedly make life easier. Gadgeteneurs typically do not have business ideas. They simply have product ideas.

Appateneurs

Likelihood of starting a New Business: Tiny

Similar to a gadgeteneur, an appateneur is someone who just came up with a new nt application for your smartphone. The people who think of them usually can neither develop apps on their own, nor do they want to pay someone to develop the app for them. So like most gadget ideas, app ideas die at the cocktail party once the appateneur realizes he has no real chance or interest in creating it.

Brokerprenuer

Likelihood of starting a New Business: Decent

These people often come from the world of services. And they’re usually spot on knowing there is a demand for the new service. These people have first-hand experience and knowledge of the need to find a new way to reach the consumer. And so they create a new way to broker the relationship. And because all that’s typically needed is a relatively small amount of cash and a developer to partner with, it is not unlikely for brokerpreneurs to launch their new business idea.

I-Think-There’s-An-Opening-in-the-Marketpreneur

Likelihood of starting a New Business – Very Possible

To me, this is where I see entrepreneurs get the most aggressive about starting their own business. They went shopping for something. They either couldn’t find what they were looking for or what they found seemed too overpriced. So they don’t think there’s enough companies out there selling them or selling them at the right price.

Greg Sugar

Time to pounce.

Starting these ventures can be expensive to start. And the I-Think-There’s-An-Opening-in-the-Marketpreneur may be entering an industry he/ she has no experience working in. But as a consumer of this product, he/ she still feels qualified to get into the game and solve the problem that exists.

Of all the entrepreneurs I meet, this tends to be the category I meet the most.

Greg Sugar

According to Nadine Todd of local Entrepreneur Magazine, the entrepreneurs who launch successful businesses are the people who didn’t just have an idea.

They’re the people who understood the idea was one teeny, tiny first step of a much longer journey. Ideas are a dime a dozen. Success lies in the execution, and that takes discipline, hard work, research, really, really learning to understand who your customer is and what they care about.

Only once that has happened can you go to market and test your idea, and slowly build a business around that idea.

Nadine Todd, Editor of Entrepreneur Magazine

Read the full version of Greg Shugar's original article here or listen to Redi's chat with Nadine Todd, Managing Editor of Entrepreneur Magazine below...


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