These powerful words from Bob Dylan were just as true in 1963 when his song was rising up the charts as they are today. The world is always changing and it is changing faster and faster. The way we communicate, find information, entertain ourselves, and shop have all changes in just the last few years. We have brand new ways to get information and learn about new things. I remember looking through encyclopedias as a kid. What an awful way to learn about old information. Now you can search up to the minute information on Twitter or the latest on Google.

This rapidly changing world creates so many opportunities. People are looking for new ways to be entertained, get information, and to buy things. It is so easy to build a following of loyal customer through a blog, Facebook, and/or a Twitter account. There is no need to throw away hundreds of dollars on newspaper and yellow page ads. They may have worked for your parent’s company, but now you have free access to reach millions world wide.

I began thinking about this a couple of weeks ago when I had two older ladies (older than my mother) say to me that I shouldn’t be wearing a spring jacket in the middle of winter. I was wearing a thin Wind Stopper jacket (I’m a bit of a hiking gear enthusiast). It is as thin as a spring jacket but is very warm and does not allow any wind to break through. I realized that these older ladies only knew a world with big bulky winter jackets. But the world has changed, the technology has advanced, and the truths known to the older generation are now as out of date as the encyclopedias.

I was working in a bank while I watched the Internet phenomenon build. Banks are dead. Banks are the dinosaur. They do not adapt to change. They move too slow because they are forced into being extremely conservative. They can’t see any opportunity beyond the same business plan that has gotten them into this trouble. How are banks trying to lure new customers… by giving away $100 gift cards, ipods, or some other awesome gifts. They wouldn’t have to buy customers if they would just innovate and do something different. Of course it is hard to get customers when there is a bank on every corner and they all do exactly the same thing.

You can not stop the world from changing. I suggest you use these excellent opportunities to build the lifestyle you desire. Don’t be a dying breed. Now is the time to start swimming or you’ll sink like a stone.

Your next big idea could be as simple as repackaging an old one. Seriously, it can be that easy. Just take an everyday products and think outside the box, bag, or whatever it currently comes in. Below are two great examples of repackaging an old product to make a lot more money.

I read a post over at Dan Miller’s 48 Days Blog where Dan described an Amish man in Ohio who rebuilt a hay bailer to make it produce smaller bails. The smaller bails are popular for decorative use. He can sell the smaller bails for twice as much as a regular sized bails. He is able to use half the hay and make twice the profit. This is an incredible way to increase profits by just packaging an old product for a different and more profitable use.

About a month ago I was visiting the Estes Park Brewery in Estes Park, Colorado. I struck up a conversation with one of the brewmasters who told me another amazing story in repackaging. The Estes Park Brewery brews a Red Ale that they call ‘Trail Head Red’ it retails for $8.49 a six pack. They also bottle the same exact beer and slap a different label on it. The different label calls the same beer the ‘REDRUM Ale’ and it is sold across town at the Stanley Hotel for $8.50 a 12 oz. bottle.

It is the exact same beer. But thanks to the Stanley Hotels claim to fame (the filming of the movie The Shining) they can sell the same product for 6 times as much and the tourist love it.

Your million dollar idea may be as simple as rethinking an existing product.

A few weeks ago I was visiting family in Austin, Tx. I couldn’t help but notice an unusual business operating on the side of the road. The Company is called Hey Cupcake! and they operate a business selling cupcakes in 5 locations around Austin. Better yet, they do it out of an Airstream trailer. Unusual? Yes. Hilarious? You bet. Brilliant? Absolutely.

While I was in Austin I drove by two of the locations and saw hordes of people waiting for their cupcake at each. What an amazing business plan. And it could be started with very little money. Buy a used trailer. Make some cupcakes in your kitchen and you are in business. Don’t get me wrong. For it to work you need an amazing cupcake, great locations, a great name, and the right attitude.  

My hat is off to this awesome company who had an excellent idea and has executed it brilliantly. Be sure to check them out here. Notice that in the ’story’ section the P.S. is “You only live once. Go for it.”

Note: So cool that people are getting their picture taken in front of it.

I love to brainstorm business and product ideas. I have some that are pretty hilarious, some that would probably be successful, and probably a couple that could make a fortune if properly thought out and executed.

The most frustrating thing is when you have an idea that you don’t follow through with and then someone else does it. When I was in college I wrote an extensive business plan for a Wrap Sandwhich Shop. Within a year of writting that plan two very similar shops opened up in the area I planned. Eight years later they are both still in business. Clearly I saw an excellent opportunity. I didn’t jump on it because I really didn’t want to be in the food business. But what about someone who sees an opportunity but doesn’t take it because of the risk.

I have talked to people who have excellent ideas for small businesses but still settle for their unhappy position with a larger company. There is no limit to the success you may gain from building a dream into a business. You simply need to recognize the opportunity, develop a plan, and go for it.

Recently someone said to me, “All the good ideas are taken”. What a ridiculous statement. What if Alexander Grahm Bell or Albert Einstein had believe that. Technology is constantly changing and so are the needs of the consumers.

The best part is that you don’t even have to reinvent the wheel or invent anything at all. The tools are available for anyone to develop a company.

Don’t make excuses. Don’t let the excuse of a poor economy get you down. Don’t believe all you hear. Don’t let lack of money stop you from accomplishing your dreams. Do believe in yourself, your idea, and the possibilities.

Check back to Turning the Wheel as I will explore more about small business opportunities, small business financing, and finding your niche.