blogging, Business, cool stuff, Economics, life, Politics, thoughts, Work

If Everyone Watched The Big Idea…

What would happen if everyone in America watches The Big Idea with Donny Deutsch on CNBC? First, there would be a run on the cable companies because you can only get CNBC on cable. Second, fellow blogger Tony Iovino would take his $600 check he’ll receive from the Federal government in May and actually cash it to invest it into a new invention (and he would start using the vastly superior WordPress blogging system). Third, the US economy would flourish.

Today, Bush signed his stimulus package, creating checks for millions of people in our economy. Lots of people love to complain about the symantics of the deal. Call it welfare. Call it a rebate. Call it what you want, it is our Federal government giving money to people that live in America.

Using some of the people I’ve seen on The Big Idea as an example, what those $600 checks have the potential to do is generate billions (yes, you read that correctly, BILLIONS) of dollars in revenue/income for Americans. How? Well, you should watch The Big Idea. The show has featured scores of people who have started their business for little more (sometimes even less) than $600. These people has created jobs, used resources that support other businesses, and made people a lot of money.

Sure, if everyone who receives a check goes a spends it on a toy at Walmart, it won’t do much for boosting the economy. However, let’s have a little fun with the math here. 130,000,000 Americans are going to receive a check. If even 0.1% of the people who receive checks become Donny Deutsch success stories, we are talking about generating $130,000,000,000 of revenue for the US economy over the next year! That’s correct, just one-tenth of one percent of the people who receive the checks need to become Donny Deutsch success stories for the checks to pay for themselves in just two year. One-tenth of one percent. That is about the same as a run-of-network banner advertisement on ValueClick!

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blogging, Business, cool stuff, Education, inspiration, philosophy, thoughts

Is Business Wiki a Viable Option?

Wiki projects have become widely used from sharing shopping experiences to the ultimate online encyclopedia. Something that I’ve been thinking about for a while is whether a business wiki a viable option. A business wiki would be for business professionals to share valuable business process knowledge to help others expand their business while potentially learning from others they would have never expected to learn from? Are executives and employees willing to share information that might potentially increase their competition?

Most of business is run on removing competition. Stifling competition. Killing competition. Keeping everything a secret. Keeping business knowledge scarce. What would it be like if that wasn’t the case? If there was a free flow of informations for companies to learn from past mistakes of other companies?

If your competition goes up, the only option you have is to innovate. Innovate your product. Innovate your marketing. Innovate your customer care. It would force your business to move forward, to always be looking forward.

I’m not suggesting that companies freely share their product ideas. You still closely guard company secrets like the formula for Coca Cola. What I’m talking about are business processes. For example, how to optimize your customer retention. How to improve your shipping department. I believe that the free sharing of this kind of information would spark a tremendous amount of innovation and improvements in businesses that would help revolutionize the way the world does business.