Showing posts with label business ideas. Show all posts
Showing posts with label business ideas. Show all posts
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I make Sh45,000 fromfish farming every three weeks


Meru is known for miraa more than anything else, but there are many farming activities taking place here.
The newest one is fish and I am happy to be among those spearheading fish farming in the region, particularly in Meru South sub-county.

My business entails keeping fish and hatching fingerlings. Thereafter, I sell them to residents for meat and farmers, who are growing in numbers.
I started the business four years ago. Two things made me go into fish farming. One, the government was promoting fish farming, mainly keeping Tilapia, and two, there is a stream that passes through my farm in Kibumbu village, where I get water.

When I first heard about fish farming, I was hesitant to engage in it because I didn’t know if I will find market; mainly because people in Meru traditionally do not eat fish, and secondly, I did not have the knowhow.

Besides, I was used to tea and dairy farming, activities that I had been doing for years, but I have now scaled down to concentrate on fish.
However, a visit to the fisheries department in Chuka changed my perception about fish farming.
The officers taught me how to engage in the practice, including building ponds.
I, thereafter, bought fingerlings worth Sh20,000 from Sagana Aquaculture Research Station. Each fingerling was going at Sh20.

In total, I invested Sh45,000. I used Sh15,000 to dig the fishpond and the rest to put in manure to colour water in the pond to protect fish from predators.
My first batch of fish, which I sold in 2011 through the fisheries department gave me over Sh200,000. This encouraged me.

Later, I also ventured into production of monosex fingerlings for sale.
When you rear monosex fish, you don’t mix female and male fish. I have specialised in rearing male fish. Getting male fish is an easy process. First, you put mature male and female fish in the pond and after 21 days, the latter would lay eggs. You then extract eggs from the mouth of the female fish.
This is done by opening the mouth when the fish is facing downwards. You then take the eggs and put them in a container and later in a hatchery. After three days, you put hormones in the feeds that ensure the eggs hatch into male fish. I get the hormones from Chuka Fisheries Department.

People prefer male tilapia because it matures faster - in eight months. At this age, they have attained at least half a kilo and you can sell in bulk. When they are mixed with female, they breed and this interferes with their weight and size. Mixing the breeds also brings competition for feeds.
I learnt all this information at the Sagana Aquaculture Research Station in Kirinyaga County. I usually attend field workshops there and get professional information regarding fish.

WORK WITH EXPERTS

As in other farming ventures, you can only succeed in fish farming if you work with experts.
With the male fish, you must feed them enough food to keep on growing and attain good weight. They grow fast because they are not breeding.

The fish takes eight months to mature. A kilo goes at Sh350. Most of the time I hatch 3,000 fingerlings after three weeks, which give me good money. I spent about Sh30,000 on the fingerlings and sell each at Sh15.
My take is that fish farming is lucrative. I have put my fish ponds on a quarter acre but I get more money from the venture than what I make from tea, which is on more than an acre.
I also engage in poultry and dairy farming.

The main challenge with fish is feeds. Getting pellets is a problem since a 20kg bag goes for about Sh3,500. Sometimes I buy dairy meal and mix it with fish meal.
I plan to buy machines to make my own feeds using sunflower and other ingredients that we have been taught by specialists.

We sell the fish locally since the residents now eat the delicacy. Chuka Fisheries Department assists us a lot. They have a deep freezer where we store our fish and they help us in distribution.
We are happy that there is a firm called Mt Kenya Fish Company that intends to give us feeds and other inputs and then recover it after we harvest.

The company is setting up a fish factory with a capacity to process over 20,000kg per day. It is in Tunyai, Tharaka South sub-county.

h/t Daily Nation
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Hilarious… 20 Businesses You Can Start With Ksh 80


Success stories have been told of businessmen who started with little capital to build empires. These stories must have inspired a certain Kenyan to start a business with Ksh 80 and so he sought help.
Here are some of the ideas he got.

OLE Roberto asked this on soko nyeusi :
Niko na 80/= naeza anza biz gani?

Here are the hilarious responses:
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15 Most Fun Self-Employed Jobs That Pay Well


What are the best jobs in the world? We’re not just talking here about the best paying or the most rewarding. We’re talking about the most fun as well. Fortunately for you i have has come up with an answer.

i gathered some information from across the Web to get a better idea about what’s involved in starting and running one of these businesses. Think of it as a startup primer for some of the most popular and fun self-employment opportunities around.

#1. Video Game Player

Plenty of people play video games for fun, but you can actually do it for profit too. In fact, website e-Sports Earnings has actually created a list ranking the top 100 players based on earnings. Professional gamers earn money by winning contests and streaming their games, allowing them to earn sponsorships, reports Business Insider. There are actually over 60 gamers who earn more than $100,000 in a year.

#2. Voice-Over Artist

This isn’t necessarily a career that many people link with self-employment. But as with many jobs in the entertainment industry, being a voice-over artist involves building a personal brand and finding your own work.
Companies, including big names like Apple, contract out voice work to entrepreneurs like Susan Bennett, the voice behind the iPhone’s Siri.

#3. Brewmaster


Craft beers are growing in popularity. And with that growth comes more and more opportunities for home brewers and microbreweries to succeed. In fact, the industry has even produced a kind of microbrewery crowdfunding all its own. Think Kickstarter for microbreweries and you’ll get the idea.
Microbrewers can start as home brewers and eventually expand into sustainable small businesses with additional employees.

#4. Event Promoter


Working in the music biz can be an exciting venture. But how do you get into the music industry if you have no musical talent. Not to worry, concert promotion is still an option, though you’ll certainly need some marketing and basic business chops here. Concert promoters work with musicians, venues, and labels to gain buzz for shows and events. It can be a lucrative career, as Billboard.com reports in a story about a concert promoter who has been at it 50+ years.

see also:13 Male Careers and What They Say to Women About You

#5. Interior Designer

Being an interior designer involves planning and designing spaces for individual and commercial clients. For a self-employed person, this means building up a client list and portfolio. But it doesn’t necessarily require a physical location or large staff. In fact, services like Homepolish.com are making it even easier to connect designers and clients. So even the marketing aspect of the business is being simplified making it easier than ever to go it alone instead of working for a larger firm.

#6. Event Planner

Solo event planners can be responsible for organizing events of all kinds from meetings to corporate events. Entrepreneurs can create a niche in the market by specializing in specific events, including concerts, corporate retreats, or art exhibits.

#7. Landscape Architect


Landscape architects plan and design outdoor spaces including parks, yards, and other open areas. Becoming a landscape architect normally requires some education and a license. But entrepreneurs can create their own brand and client list.

#8. Fashion Designer

Fashion designers can build their own brands and sell their creations online or in small retail locations. There are plenty of different niches in the industry, so designers can find a way to stand out. Plenty of fashion design entrepreneurs have reached huge success.

see also:8 Types Of Guys You Should Avoid Dating Because Of Their JOBS

#9. Stand-up Comedian

Becoming a successful stand up comedian might seem fun, but it requires a lot of work. Most comedians work other jobs while honing their craft and trying to find gigs. But once you’ve built a personal brand, you can set your own schedule and choose where you’d like to perform.

#10. Public Relations Specialist

Public relations is an industry that can lend itself to so many different niches and specialties. If you have an educational background in PR or a similar field, you can start by working with one or two clients to build up a portfolio.
We hope you’ve found this overview helpful. For more on the topic of self-employment, see these other

 #11. Online media consultant 

Like participating on messageboards, Facebook, Twitter, and so on? Become an online media consultant and help people promote things. Start small – help local businesses get a presence on Facebook and set them up with Twitter. From there, you can grow to whatever works for you.

#12. Writing/Editing 

If you enjoy writing then writing and editing content in your spare time for companies is a great way to earn extra cash. Many website owners and other businesses require content be written or edited for a wide range of topics and uses. Some will even pay you for simple blog posts or comments. This type of business requires no overhead or experience and you can earn a nice income if you can connect with the right companies willing to pay for your writing services.

#13.  Social media 

Almost everyone uses Facebook, Twitter, Pinterest, etc. these days but did you know that many companies will pay people to help them manage their social media accounts, even part time from home. If you are a social media junky already then this may be a great way to start your own business that you enjoy, simply by playing around on Facebook, Twitter and other social media sites all day.

#14.  DeeJaying

Are you an audiophile? If you have a great sound system and a large selection of music, you’ve already got what you need to hire yourself out as a DJ for various events and receptions. This is a great way to fill an afternoon and evening while also earning some cash in the process.

see also: Lost inTranslation:What women Says and What Men REALLY Hear!!

#15. Catering 

If you love to cook, take the “Blondie” route and start a home catering business. Catering is a business that’s perfectly designed to reward those who plan well and can often fit perfectly into weekends, lining up wonderfully opposite a normal workweek.

Business Unplugged
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From Sh20,000 seed capital, farmer rakes in Sh140,000 monthly

Kenya: The past 11 years were frustrating to the 25 year Stanley Lagat. His job saw him only earn a paltry Sh3, 310 monthly. Though he was in love with his career, the returns were dismal, with financial strains weighing down on him.
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Bamboo Farming turns Kenyan farmers into Millionaires


NAIROBI, KENYA: Mr Boniface Soli, 55, experience convinced him bamboo farming is one of the most lucrative businesses one can engage in.
 “A harvest can bring in millions of shillings.
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Groundnut Farmer PocketsSh 1million Every Season

 
The 48-year Timothy Simiyu has been reaping good returns from ground nut farming.
The former Primary school teacher started farming Manipinta and Red Valencia groundnuts in his maize farm in
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Turn your Ksh40,000 To Ksh400,000 in 100 days With Watermelon Farming

Thanks to a fast growing demand for fresh grocery, demand for agricultural products such as watermelons has grown exponentially over the last few years.
Today Business Unplugged wants to share some important tips about watermelon farming
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25 Rules of Investing



Rule 1: Bulls, Bears Make Money,
Pigs Get Slaughtered
It's essential for all traders to know when to take some off the table.Dont be a greedy pig.
Rule 2: It's OK to Pay the Taxes
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The 50 Fastest Growing Online Jobs

This year, online employers are looking for workers skilled in mobile development and 3D technologies, new research shows.
Of the top 11 fastest-growing online jobs in 2014, more than half are related to either mobile development or 3D work, according to the study by the freelancing and crowdsourcing marketplace Freelancer.com.
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Strapped for Cash? Sell Your Unwashed Panties Online For Major Bucks

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Entrepreneurs Watch: Entrepreneur turns buses into moving billboards

innovative business idea becomes an ideal investment opportunity for this entrepreneur

Trushar Khetia has always felt that there was something missing in the country’s advertising market. It appeared to him that there was a lot of what he terms audience fatigue — Kenyan consumers were getting tired of being exposed to the same old thing over and over. “Our advertising had become boring, and companies were pumping a lot of money into ad campaigns without taking the time to figure out if they were getting the desired results from their investment or not,” he said. To resolve the issue, Mr Khetia felt the advertising industry should shift from a traditional medium to a more “modern” format. “The main forms of transportation in our country are buses and matatus, and we have literally tens of thousands of these PSVs that offer potential ad space.”
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The Agropreneur: Turn Sh15,000 investment in seedlings into Sh1.8m in profit in two years

the ultimate low cost business idea which is an investment opportunity for aspiring entrepreneurs

Most business ideas arise from the desire to meet the need of a particular customer base looking for a specific good or service. However, some businesses ideas transcend an entrepreneur’s intended immediate customer base and have national impact. Agro-forestry is one such venture, and Mr Benson Kanyi is among a growing number of Kenyans making a living out of commercially producing trees. This group swears by agro-forestry being a profitable and sustainable business that also meets a national need.

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22 Qualities Of Entrepreneurs Likely ToFail


Say you want to build a thriving business. You could list everything you think is important in founding,
growing, and maintaining a startup, and build your company that way.
Or you could focus on what experienced investors look for — not because you want to attract outside capital, but because you want to evaluate the same key qualities an experienced investor looks for when deciding whether a business merits their money.
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9 Biggest lies We All Fall For AboutStarting Your OwnBusiness

What is your favorite lie that you've heard about starting your own business?
1. You'll be your own boss.
"Not only will you not be your own boss, but more people than ever will have a critical stake in your success, including customers, vendors, and staff.
If you think your boss makes unreasonable demands of you now, just wait until a good customer calls you to handle a major issue at 2 a.m.
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This Sex Plane Lets you and Your Patner Boink your brains out in Mid Air!!


Love Cloud is a new service offering flights over Sin City for couples looking to engage in
a little sin of their own -- but the Entrepreneur behind it, Andy Johnson says it's about so much more than sex.
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the good and the bad of ecommerce business

If you had to pick any industry that Africa seems to
have clung onto since its tech boom, it has to be
ecommerce. For the most part, it’s relatively easy to
set up an ecommerce shop. There may be some
logistical challenges, but it seems to be an easier
industry to play in.

Ecommerce globally is a big deal these days, but
the fall of EcoMom shed some light on online
shopping’s dark side. A telling report by the
company’s financial controller, Philip Prentiss (one
of only three people with knowledge of the
company’s financials), exposed how the company
was trapped into a loss-making spiral. In essence,
its discount model meant the more products it
sold, the more money it lost.

For an ecommerce startup, EcoMom had a lot of
cash from investors. It also had a good product
and, by all accounts, should have been a success.
On the surface it was, but on paper it was failing.
Prentiss’s postmortem analysis of the company’s
financials tells the story of how some ecommerce
businesses can become a victim of their own model.

It seems that for a every buck ecommerce
businesses make, they can lose even more due to
heavy discounts, free delivery and competition.
So why is everyone in Africa jumping on this not-
too-stable wagon?
“As the next frontier, Africa is seeing some good
investment from credible investors, which is helping
to drive growth,” says Daniel Guasco, head of
Groupon South Africa. He reckons that if you
compare “brick and mortar as your starting point,
an ecommerce company is easier and quicker. You
don’t need retail space and shopping centres”.

This is one of the things that makes this space very
attractive – you can start with little to no money
and help already established businesses bring their
products online, leaving them to handle the
logistics. All you need to do is set up a site and
integrate a payment gateway.
However, ease of access cannot be the only reason
why this space has boomed and why people want to
create their own sites, no matter how saturated it
gets. For Konga CEO Sim Shagaya, the Nigerian case
for ecommerce is quite simple: lack of formal retail.

“Nigerians have been on the search for a great
shopping experience, which they weren’t used to
with traditional brick and mortar stores found in
majority of cities in Nigeria,” he says.
That for him is the inspiration for his company: to
empower Nigerians by giving them access to a great
selection of goods and great prices which are
different from what is found in their locality.

If you think about it, online shopping makes sense
for Africa and its growing middle class. As a
continent with mostly developing economies,
increasing broadband access and a status as the
“rising” continent, it follows that Africans will be
enthusiastic online shoppers. The African consumer
is transacting on mobile devices playing with
“petty” ecommerce, if you will, through airtime
purchases and other virtual goods – so why not
everything else?

So of course it’s big here. It is big here for the
same reason it is big everywhere else, Paul Galatis
of luxury kitchenware site Yuppiechef notes.
“A heightened interest in Africa and its potential
from international investors who all want to be
early movers on the continent,” is also a big
contributing factor to the ecommerce boom, he
says.

It is a great space to invest in, says everyone, and
at the rate new stores are popping up it must make
good business sense, yes?
Maybe.
According to Galatis, fewer than one percent of all
retail transactions in South Africa are being carried
out online. This number is significantly higher in
the United States, where he estimates this number
to be between 10% and 12%.

“In Africa, I have no doubt this number is tiny —
but I believe this that has to do with a
combination of: limited but growing access; limited
but growing disposable income; but, most
importantly, the limited number of online stores
delivering exceptional experiences to the people of
Africa,” he adds.
So it is a long game and a waiting game, but why
are some of the big players with big money running
from it?

A few weeks ago Naspers announced that it had
effectively shut down some of its more niche
ecommerce players, which were all part of the
company’s African Internet Accelerator (AIA)
programme. The programme was founded in the
spirit of South Africa’s supposedly booming
ecommerce scene. Is this no longer the case?
For the emerging markets media and internet giant,
it seems it is a case of segmenting its “focus
specifically on the general e-tail businesses such as
Kalahari”. So go where the money is and don’t
bother with too many shops.

The case isn’t that much different in Nigeria,
though Shagaya takes a more optimistic view to
profit and return. Infancy, rather than lack of profit,
is the real problem he says.
“Ecommerce in Nigeria is still in its very early
stages, the growth of ecommerce in this region will
be a lot different from what we have seen in the
West. We are building this system out in a way that
will work for our own people,” he says.

Gausco agrees. The vision is long-term and that’s
where the real return is, he argues.
“You need substantial infrastructure and much
resources to properly grow establish a ecommerce
company in Africa – probably more so than
developed markets – as you don’t just need a store
front you; normally need to build the logistics and
customers service etc yourself,” he says.

Zando’s CEO Sacha Breuss argues that the last year
has been a successful one for the company.
“We have been able to continuously grow our
portfolio, underlining our position as South Africa’s
biggest ecommerce fashion destination with more
than 20 000 different products online,” he says.
But he does not mention whether or not the
company, which is rumoured to have retrenched
some staff last year, saw any profit this year.

Nonetheless, he maintains that the company is
“convinced that this is the basis for a profitable
and healthy growth going forward”.
“There is a very small market. Online retail in Africa
is difficult. Where do you get the product to sell in
Africa?” asked Emilian Popa, CEO of Africa Internet
Accelerator at Tech4Africa last year.

He cautioned against the ecommerce business in
Africa unless you had the money to burn and were
willing to wait. The way he saw it, Africa’s
challenges when it comes to ecommerce were
sometimes far too great and sometimes outweighed
the reward.
The future of his company is uncertain at this
stage.

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Businesses You Can Start From Your Smartphone

You're out of work. The job listings are thin. You have no money to start your own business. Maybe you don't even have a computer to assist in conducting a proper job search. Rest easy, we're here to help.

We've scoured the earth for ten solid business ideas--endeavors that you can mostly start up with little more than a smartphone and a Gmail address, and that you could get under way tomorrow if you absolutely had to. Sure, a computer--or at least a netbook--would help with just about any of these suggestions, but for most of your day-to-day activities in these ten enterprises, you won't need anything more than your phone and a big dose of old- fashioned gumption.

Now get out there--the economy is waiting!

1. Car Service

Provided you have a car with a spacious back seat--and you're good at keeping it clean and tidy--you can start a car service without much effort, particularly if you live in a smaller town without major taxi regulations. The biggest hurdle is getting the appropriate driver's license for your state and/or city (check with your state's DMV for details). Once that's out of the way, you can put up a simple website and offer a phone number for customers to schedule pickups. Your phone can double as a calendar and address book to keep track of appointments, and it can work as a GPS device to ensure you're going the right way. Check out UberCab , which lets passengers book travel on private cars directly from their iPhone.

2. Travel/Tour Guide

What better way to turn a lifetime of living in the same town into pocket money than to become a tour guide around said town? Get the word out by building a website and offering commentary on Yelp to promote yourself as a local expert. Services such as Genbook can help you manage appointments and scheduling, and any Android phone can download a multi- waypoint map from Google Maps to help you plan your tour route. During your downtime, write a tour guidebook and sell it as a print-on- demand book as well as an e-book and smartphone app.

3. Writer

It may be foolhardy to attempt to start a career as a writer without a computer--and we don't exactly advise it--but it has been done before. Blogging is a good place to start: A variety of iPhone apps exist for the major blog platforms (including WordPress and Tumblr ) to expedite mobile posts, and many other platforms (such as TypePad) have mobile services built right in. But there's no need to stop at blogging. In Japan it's becoming popular to write and distribute entire novels via cell phone, specifically text message-- in 2007, five of the top ten bestselling novels in Japan were "cellphone novels" written specifically for the medium. Are we ready for such a thing on our shores? Only one way to find out.

4. Videographer

In the old days, a documentarian, filmmaker, or other video-production professional used to have to fill a van with equipment and haul it from location to location--along with a sizable crew--in order to get a day's worth of shots. Now that pocket video cameras have reached HD quality, it's possible to forgo all of that. If you're brave, you can even shoot with a high-end cell phone, and handsets such as the iPhone 4 and the Samsung Instinct line include basic video- editing features right in the phone. If you're shooting custom video for clients, you can distribute footage directly to them while you're still on location, or upload it to YouTube with little more than a click and a swipe.

5. Mystery Shopper

One perennially popular scam of the spam world--'Mystery shoppers wanted in your area!'-- is actually a legit business for many people, and can bring in real money with a minimum of up- front effort. The important part is doing it right. E-mail come-ons are not the way to start a genuine business. Rather, do your research into legitimate mystery-shopping clearinghouses such as Corporate Research International (where mystery shoppers are called "auditors"), which handles major clients ranging from Chili's to Sears. Don't expect to make a ton of cash--busy shoppers often earn five figures annually in cash and schwag--but if you have lots of time to kill and enjoy shopping, it's worth a look.

6. Auction Maven

eBay may have been the hottest tech company of the last millennium--traffic has been eroding for years now--but it's still big enough to merit the 21st spot among the most trafficked websites in the world, per Alexa. Business opportunities in the auction field remain as varied as the items for sale on the site. Troll garage sales and storage-center forfeiture sales for buried treasure, and then relist the items at auction. Make your own quilts and offer them up on eBay (or, better yet, on Etsy). Or set up shop helping people who would otherwise be putting their unwanted merchandise out on the street make a few bucks by selling it online. eBay's mobile app for iPhone, Android, or BlackBerry makes managing storefronts easy from anywhere.

7. Life Coach

Ah, the beauty of the life coach: You need no real credentials, no degree, and no special business license to give people your opinion on how they should run their lives. Throw together a website touting your expertise--in the life- coach world, the more outrageous the design, the better--get some testimonials from people friendly to your cause, and write up a few stories that show off how wise and intelligent you are (something like "Seven steps to a more serene id"). Once the clients come calling, you can book appointments for in-person meetings or, better yet, telephone calls. Charge premium rates or monthly retainers for folks who'd like 24/7 attention. You're on your own, however, when it comes to actually dealing with all these crazies.

8. Virtual Assistant

Who doesn't need a little helping hand from time to time? Virtual assistants let people with too much on their plate outsource the most menial tasks to a peon. That's you! Exactly what you do is up to you and your client, but the most successful virtual assistants are the ones who will do just about anything that falls even remotely within the letter of the law. Realistically you'll be buying event tickets, researching vacations, fetching dry cleaning, and even dogsitting from time to time, but requests can run the gamut from the mundane to the extravagant. Be clear about your fee structure-- most assistants bill hourly plus expenses, or offer prepackaged monthly deals for a set number of tasks--and promote the heck out of yourself. Entrepreneur magazine has several ideas along these lines to get you going.

9. Tech Support

Are you the one everyone calls when their computer goes south? Why not get paid for it by fixing the computers and answering the technical questions of helpless strangers? A good web page touting your services is critical here. Use keywords and make sure you're specific about the local boundaries of any on-site service. Most people looking for help will Google "city name tech support" or something along those lines, so use your best SEO-fu to design a page that beginners will understand and search engines will love--remember, these are frustrated people who can't figure out why the fonts are so small on their new monitor, so simple and clear language is key.
Craigslist is a popular spot for advertising your wares when business is slow, but be sure to elevate your postings above the riff-raff.

10. 'Personal' Phone Service Operator

When all else fails, you can always talk to people on the phone. This doesn't take a lot of skill or much in the way of setup beyond getting a 900 number or 800 number (plus a mechanism to accept credit card payments). Want to give out recipe advice, sports-betting picks, or psychic readings? Whatever floats your boat, chances are good that someone out there is willing to pay to listen to you say it. Of course, a lot of these services tend toward more "mature" offerings, but we here at PCWorld would never, ever judge you for that.

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Don’t Innovate, Imitate

What’s the quickest way to startup success? One is to think of a great innovation. Another is to copy someone else’s great innovation. That's a lot easier than coming up with your own. And it’s often a shorter, surer path to your first million - or billion. Just ask the Samwer brothers, Oliver, 39, Marc, 41 and Alexander, 37. The founders of Berlin- based imitator incubator Rocket Internet, they’ve cloned dozens of successful internet companies, from eBay to Facebook. And all three of them are billionaires. Until recently, the Samwers kept a low profile. The press usually referred to them as secretive. But lately they’ve been getting more attention. After all, it’s hard not to draw attention when you’re raking in billions by copying almost every successful Internet company that comes along. But could the growing acceptance of the Samwer brothers also be due to the fact that people in the tech industry are finally admitting in public that imitation is good business? We decided to find out. We couldn’t get the Samwers on the phone, so we called up Oded Shenkar, the man who wrote the book on the business of clones: Copycats: How Smart Companies Use Imitation to Gain a Strategic Edge. “In the tech startup world, people tend to equate entrepreneurial activity with innovation, and that’s the wrong assumption,” said Shenkar, a professor of management and human resources at Ohio State University. “There’s a long history of successful startups that are built on imitation, not innovation.” Facebook is one. Apple is another. We should recognize Mark Zuckerberg and Steve Jobs as great imitators, Shenkar said. Zuckerberg didn't invent social networking. Friendster launched in 2002, MySpace and LinkedIn in 2003. Facebook didn't come along until 2004. Similarly, Jobs cobbled together the Macintosh user interface circa 1984 out of ideas and technology he first encountered at Xerox PARC in 1979. Shankar doesn't count these imitations against the two men. Rather, he celebrates their seminal work in duplication. “We have this reverence for innovation, but imitation is often the key to success," Shenkar explained. "Imitation was critical to human evolution, and today imitation is more critical than ever - because it’s much cheaper and more feasible than previously. Business is the only discipline that’s 50 years behind, in that it looks at imitation as a dumb thing that’s done by people who can’t innovate. In all other academic fields there is a belief that imitation is an intelligent capability. But in business we’re still stuck on this religion of innovation.” Partly that’s because innovation is hard, and the business world exalts high achievers. But imitation isn’t easy, Shenkar said. You have to know how to do it, which is why some imitators fail and others, like the Samwers, succeed so well. Their hit rate is around 50 percent. Their neatest trick: copying successful companies, then selling the knockoffs to the originals. They sold their Groupon clone to Groupon. Recently they sold their version of Care.com to Care.com. And imitation does not work only in the internet world, Shenkar pointed out. It’s easier there, yes, but copycatting has long been common in all sorts of industries. RC introduced the original diet cola, Diet Rite, in 1958, but it was flattened by imitations from Coke and Pepsi. European discount airline Ryanair was in a downward spiral until management flew off to Texas to learn from Southwest how to properly run a cut-rate carrier. Now Ryanair is profitable. Hertz and Enterprise are currently in the process of ripping off Zipcar. When imitators execute well, they usually succeed better than the first movers, because they study the errors of the innovators and learn from them, as Facebook learned from the mistakes of MySpace. “Every study that has looked at this issue has found support for the imitators,” Shenkar said. “And even those that found a modest advantage for the pioneers invariably found that the effect is getting smaller over time. So even if there is an advantage for innovators, it’s getting smaller not larger, despite our worship of innovators. On balance, the research supports the imitators and we’re moving more and more into an imitator age.” also read: There’s No Such Thing As An Original Business Idea
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