I firmly believe I do all my best and most utterly deranged thinking in the early hours of the morning. It’s truly a case of ‘don’t feed them after midnight’ because my gremlin brain comes up with the most ridiculous shit you could possibly think of.
I used to write down my half-scrambled thoughts in a notebook beside my bed when I’d wake up in the middle of the night, but after more than a few mornings waking up to notes like ‘octopus but with fur’ I ditched that practice. Sometimes it’s best not to remember every bizarre thought you have.
But every so often, there’s a little nugget hidden within the flood of ridiculousness that you want to turn into something legit. A kernel of business genius buried within all the baffling nonsense.
And here’s how to make it a reality.
1. Refine the midnight idea
If you’re anything like me, the idea is probably still a little half-baked even if it does fill you with business zeal. So before you get all gung-ho, make sure you boil it down to its core. Are you selling a product? Are you providing a service?
The most important thing to really believe in IS the idea. It’s all well and good to go all-in on a project, as long as it’s something you have sustained passion for — not just a get rich quick scheme. Because otherwise you’re guaranteed to lose interest.
don’t be like Lindsay, never be like Lindsay
2. Reach out to potential collaborators
Whether you want someone to go in as a core partner or you’re more on the hunt for investors, reaching out to people is a good way to get your idea off the ground and keep it up there instead of falling nose-first into the dirty, dirty ground (which is a business no-no, in case you were wondering).
Plus, then you can get a bit of a sense check on your subsequent midnight ideas because I’ll be blunt: outside of your big genius idea, they’re probably either completely cooked or already exist. Don’t be going around claiming you came up with a brilliant product when you, well, didn’t.
3. Register your ABN
Once you’ve got everything ready to ramp up, you’re gonna wanna get yourself an ABN. If you’re still stuck in your sleep-deprived haze after coming up with a bunch of ridiculous midnight ideas, you might not be aware that ABN stands for Australian Business Number, and is a unique 11 digit code that registers your business.
It’s pretty damn imperative you get one. Don’t forget that you’ll need to know your business name at this point too, unless you’re registering it under your own name. But when you can opt for something fun and punny instead, can you really tell me that you wouldn’t? Why wouldn’t you? Why? What are you doing?
4. Create a marketing strategy
There’s no use having a 10/10 cool as hell product or service and having absolutely no clientele because the only person you told about it is your mum’s elderly neighbour. And although she was very encouraging, she’s not your target market (or maybe she is, who’s to say?).
So you’re going to want to develop a marketing strategy that works in 2019. The easiest way? Online. Start up a designated social media account on all platforms for your business to garner an audience. Then, once you’ve got ’em where you want ’em, join up to an all-in-one marketing platform like Mailchimp to create a regular distribution of info to your newly loyal customers.
5. Get to work
It’s pretty simple now, pal. Just get shit done. Once you’ve established these key areas then you’re ready to start really making a go of it. Send out your email campaigns, start promoting on social media, get your product rolling.
And maybe go to bed before midnight now that you’re a tycoon.Image: iStock / macniak