Bringing something innovative and profitable into this world of diversity does require a good idea, but that is not to say that that idea is all it takes. Thousands of innovations with great potential go to waste every year, because of failure in realization. So what’s the trick? It’s simple, being creative is just not enough, an individual has to be witty, organized and dedicated.
1. Doggles – The hip world of fashion seems to be infinite in ideas. And you thought dog clothes would be the end of it. Well, someone came up with an idea for dog glasses. Yes, you heard it right – dog glasses. However, for this idea to be realized, something recognizable had to be created, and this is where the clever name of Doggles came in. Today, this is a million dollar business. Bet you’ll never underestimate seemingly impractical things again.
2. Fraser Doherty’s Super Jam – you don’t always have to be an inventor, sometimes an innovative idea is more than enough. Behold Fraser Doherty’s grandmother’s jam. This teenager realized that there’s no reason not to try and build an empire based on something he loved as a kid. Using his grandma’s recipe, he started making jams when he was 14, and by age 16 he decided to work on his business-to-be full-time. Selling about half a million jams a year, he became a millionaire while still in his teens.
3. Honey tap – Father and son Cedar and Stuart Anderson came up with a clever little device that serves as a tap for collecting honey, thus speeding up this age-old process manifold. This is a prime example of an invention that took a bit more than a good idea and blind luck – it took a knack and skill in handicraft in addition. Raising $1.7 million dollars in the first 24 hours, this parent-son combo literally became millionaires overnight. Comprising plastic honeycomb cells for bees to leave honey in and a lever that splits the wax and makes it pour into a jar using intertwining channels, this amateur invention has made them rich in a matter of hours.
4. Wuvit – Sometimes great ideas come from the purest of intentions. Kim Levine was a housewife that simply wanted to make a cool gift for her children in form of pillows. But these pillows had to be special, so she realized that by putting some corn inside them and microwaving the whole thing (yes, microwaving) would make for soft, smooth and cute little pillows on which to rest one’s weary head. A couple of fellow parents’ calls later she realized that this could make for an honest day’s profit, but never had she dreamed that she would become a millionaire she is this very day.
5. Timothy Sykes – A community of over 60,000 traders – this is what Timothy has given to the world. Using his experience, he created Profit.ly, which has not only made him rich, but more than a couple of his fellow student peers. This man is a solid proof that sometimes skipping classes in exchange for doing something one’s passionate about can pay off in long term. As a student, he used Profit.ly to turn his Bar Mitzvah gift money into 2 million dollars trading penny stocks.
6. Alex Tew – This guy sold pixels. Yup, that’s right, pixels! A decade back, in 2005, this student from England launched his The Million Dollar Homepage website which sold pixels for a $1 each. Attracting plenty attention, this simple idea earned him his first million during the first couple of months.
If you think you have an innovative idea, don’t let it go to waste. Work on it, plan and promote it. It may pay off, and starting small probably won’t prove for a huge loss, should it end up a failure.