I’ve just read an article in the FT about entrepreneurs taking a shotgun approach to start-ups which says:
The quest to develop the internet’s next big thing can be full of unexpected twists and turns. PayPal, the online payments service, started as a way of transmitting payments securely between Palm Pilots. …
Flickr, the photo website, grew out of a multiplayer online game being developed by its founders. …
With such tales in mind, some entrepreneurs factor the unexpected into their business models, eschewing business plans that rely on a single big idea. Instead, they set up companies in which small teams of engineers work on several ideas simultaneously. The hope is that one or two will take off – a “shotgun” rather than a “sniper” strategy.
It then goes on to talk about James Currier, a 40-year-old former venture capitalist who has founded Ooga Labs. Ooga Labs is a self-funded start-up whose 15 designers and engineers work in two-man teams to develop ideas in parallel. Their goal is to churn out as many promising business ideas as possible, as quickly as possible.
Sure it’s not new, back in the height of the dotcom heyday Idealab helped launch a number of dotcoms and there are numerous business “incubators” and then there are the business that are built on innovation like W.L. Gore and Google. But it’s still an exciting idea for for a business.
With a business like this you’re sure to attract some serious talent and who knows one of the ideas that comes out of it might be the next Google, Ebay or PayPal.
And if anyone would like to invest in the idea I can provide a list of good techies…
This blog is about business opportunities and ideas that I spot, think of or hear about and think are useful and interesting. It is intended to provide ideas and inspriation for you to help you find the right business idea for you to then grow it into a successful business.
I think Edison had the same idea back in 1876, when he setup his Menlo Park research facility.
Simon,
You’re right, according to Wikipedia:
“he was one of the first inventors to apply the principles of mass production to the process of invention”
More proof, not that we need any, that he was a smart guy.
John,
Regarding this and your recent Angels Wanted post, check out Fusu.com and this http://www.domainnews.com/aftermarket/2008022559/fusu-the-domain-stock-exchange-rings-opening-bell/
“>story about it.
Basically allows fund raising based on the promise of business behind a premium domain name. Interesting - yes. Viable - guess we’ll have to wait and see!
Paul,
That’s an interesting idea…
I think the key really is flexibility: of thought and action. There’s nothing wrong with starting a business in the more conventional ’sniper’ approach so long as one retains the flexibility to respond to the market. For instance, if you start up with a blog on business opportunities in general and you find that most of your readers are interested in low-cost business opportunities, then focus more on creating content focusing on low-cost business opportunities and things may then really take off.