Comments on: A great OLD idea for a business!

By: DaveinHackensack

DaveinHackensack — Fri, 15 Jan 2010 17:43:31 +0000

Mohnish Pabrai (who is, IMO, a better entrepreneur and salesman than investor) made the same point in his book, The Dhando Investor. He cited several examples in that book of entrepreneurs who were successful not because they reinvented the wheel but because they entered an existing space and executed better (or at a lower cost) than their competitors.

I can't help coming up with new ideas though (or, as in the case of Short Screen, a new take on an old idea. The Altman Z-score model has been in the public domain for decades; my new take was to use it to screen for short selling ideas). What I am trying to do is focus on the ideas I have that seem the most practical to implement and will have the biggest potential impact. I'm putting the finishing touches now on what I think will be a good one.

By: JakeGint

JakeGint — Thu, 14 Jan 2010 21:01:05 +0000

Agreud. I have the perfect example here in L'ville. Talk about 'everything old is new again.'

As usual, the value is in the entreprenuer in this one. Guy is a pip. Next 5-Squares meeting, I will elaborate (he's not going anywhere).

By: danreich

danreich — Fri, 08 Jan 2010 21:10:23 +0000

Why do you think “agent” will be good a target?

By: reecepacheco

reecepacheco — Fri, 08 Jan 2010 14:32:53 +0000

well said. there are a ton of industries that are ripe for renewal in fresher approaches to business…

for fun, here are some buzzwords that apply: green, sustainable, web-based, customer focused, local.

i grew up in the restaurant business, but my experience in business on the web has really helped me rethink how brick & mortar businesses run.