No doubt you’ve heard someone say I had an aha moment, the light bulb went off in my head or I had an epiphany when describing a sudden insight or idea that allowed them to see a solution to a problem. For instance when Sir Isaac Newton was hit on the head by a falling apple he had an a-ha moment that led him to come up with the theory of gravity; Percy Spencer’s eureka moment for the microwave came after he discovered a melted chocolate bar in shirt while he was working on a radar; and the light bulb went off in Albert Einstein’s head for the theory of relativity at the sight of a clock tower on his ride home.
Similarly a flash of cash is also a sudden inspiration, but it is more accurately tied to entrepreneurial endeavors or money making opportunities. For example, you have many aha moments throughout your life that might lead you to stronger personal relationships, better financial management or simply getting a better understanding of your schoolwork. However, it is unlikely that these ideas would lead you to run out and start a business.
Occasionally though, you will come up with an idea and think to yourself “wouldn’t it be a good idea if I could buy this in a store,” or “I bet I could make a lot of money if I sold these.” In essence you had a flash of cash. Ray Kroc had his flash of cash for McDonalds after visiting a small restaurant in California; Ingvar Kamprad’s flash of cash for Ikea happened when an employee had to remove the legs off a table to fit it into a customer’s automobile; and Sam Walton’s flash of cash came after he realized he could pass on discounts he received from suppliers to customers.
A flash of cash is when you have that Aha moment. It’s that time when the light bulb goes off in your head. It’s your idea for a money making opportunity.
A flash of cash is not “Why didn’t I think of that?” A flash of cash is “Wouldn’t it be a good idea if …..”
But what do you do when you have this epihany — this Eureka moment?
Is it really a special idea? Most ideas and small business startups fail.
Are you willing to risk everything, including your friends, family, marriage or net worth to see if your flash of cash will succeed?
The journey between having an idea and eventually turning it into a money making venture can last a lifetime.
Here we try to help you figure out how to profit from your ideas, while minimizing the risks that all small business startups face.