Business Ideas, Thoughts and Opportunities

   
Talks with a Consultant who READS Management

By Chot Velasquez

BRD said something like this,

“Some executives predict future success based on their past performance or their current conditions. Nonetheless, the future can actually be created from imagination. Combining creatively the past experiences, the present operations with imagination can be the foundations of the company’s future.”

This statement sounds to me like a goldmine of business ideas, thoughts and opportunities. With this in mind, I am sure that in the next days or weeks to come, I can be sharing with everyone about “business ito”, the title I made combining a slang of business and the acronym, which I will be constantly using it to refer to business ideas, thoughts and opportunities. Everything I will be talking about will come mainly from my discussions with two senior business executives, BRD and RSM, of READS Management Consulting, based in San Juan City. 

Further, this material is intended for a Grounded Theory on Management project; such an approach takes everything as data and it leaves the review of literatures, particularly theories, at the last phase of the project for comparison or contrast with the emergent theory.

“Business ito” in my understanding…
Ideas, thoughts and opportunities are abstractions of, in and by the mind: of the mind, meaning it is a property of the mind; it happens in the mind, and it is by the mind, that is, it is a product of the mind. By abstraction I mean the act of drawing or creating something in the mind which we refer to as either idea, thought or opportunity. 

From BRD, I learned that a business is a system of commercializing or monetizing an idea, thought or opportunity. But, what are these terms?

Idea

An idea may be understood as the smallest unit of things there can be in the mind and we normally assign a word, term or name for it for the purposes of recognition. In the absence of a name for it, we can resort to a description as best as we can. An idea, therefore, is represented in every word there is in our vocabulary. A business idea is something that can be continually monetized. “Cyberspace” is the idea of a digital world or the internet. In other instances, an idea may be contained in descriptions and needs a term or new name for it. “Blog” was coined to refer to the idea of web log or writing in the digital space or internet.
Thought
On the other hand, a thought is the collection and a flow of ideas about something. My thought on “cyberspace” includes a description of it, the elements comprising it and how they work together, among other things about it. A blog to me is not just an act but also an experience. On this may be applied the thought of Scott Griffith’s brother (Fortune, 2012) that has business application, “You have to think about the kind of person you want to be when you’re done with this experience. Think about coming out of this a different person than you go in.” These thoughts are ideas woven together and flowing in the mind.

Opportunity

Finally, an opportunity is the configuration of thought for the purposes of gaining something, advancing or growing. Since everyone who has access to the cyberspace practically becomes accessible as well in terms of getting connected, it can be a medium of connecting with people. The cyberspace provides for an opportunity to get connected with people.
“bisnez ito” from history, current experience and imagination

Every person has a past and every group has history, or in the case of a newly formed group, its experiences will come to past and consist its history. These experiences get encapsulated in memories and stories of the past. The past is much like a goldmine pit waiting for digging. 

There is a source most exploited for business ideas, thoughts and opportunities – today. Current experiences also come to past, but the realities taking place each day is pregnant. Most of the businesses we know today are the products of current experiences. Food businesses, clothing, housing, gadgets and so forth are all mostly out of contemporary ideas, thoughts and opportunities. Indeed, “business ito” can come from history and current experiences. 

Knowledge of our past and our present is replete with ideas, thoughts and opportunities to build on but there is another teeming source of bisnez ito – our imagination, the potential things of the future. I am reminded of the 1985 film “Back to the Future” that presented imaginations of the future (2015). The self-lacing shoes, the car fueled by trash, the hoverboard and so forth were just some of the products of the creative mind. Today, there are already business undertakings on these ideas.

What if there is lack of it? Oh, boy! That is mental poverty. In that case, the future translating into current experience will most likely be simply the continuation of the past or based on it. If a person lacks an idea or ideas of the future, then it will be just like how it is or was, again. There will be nothing new. 

Few years ago, I had an encounter with an environmental organization that had been in existence for more than a decade. In all those years, they were just doing the same things on a daily basis. At around 5am, they start knocking on doors to collect their solid waste, which they sort and the recyclables are stored in a warehouse to be sold to a junk shop later or in another day. The residuals are taken to a dump truck, which come regularly. This is how it is everyday. Nothing seemed to have changed in their experiences. Their past and present are almost the same. Also, I have a friend, I met in college in 1993, whose parents are into candle production. The candles are basic – designed only for lighting and has no artistic form. Sizes are different but everything is in basic form. Today, they are still into candle making and they are still producing the same kinds of candles, in the same place they have been doing it for decades now, and the people and conditions are almost the same when I first came and learned about their business. Time changed but things were practically the same in their business. If the futures of these two entities are to be different, they need more “business ito”, which can be generated from their past or history and their current experiences.

A future better than the past and the present requires new elements and activities. As BRD said, paraphrasing Einstein, “it is insanity to think of a different future while doing the same things over and over again.”

So, are you in a quest for business ideas, thoughts and opportunities? Dig into the past. Pan your current experiences. Imagine the future. Bisnez ito come from these.

What are your ideas, thoughts and opportunities on this? Tell us what you think. Read more. Visit http://www.reads.com.ph. 

Chot Velasquez is a Corporate Digital Marketer for READS Management Consulting. He digi-scribes and writes business and management news articles.

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