The imagination is a curious imprint of the human condition. Most of the day it lies dormant, overcome by the mundanity of one’s daily routine. This is a shame. As Einstein told us, imagination is far more important than knowledge, for knowledge is limited only to what we understand empirically. Imagination, on the other hand, embraces all that there ever could be. No doubt that this can be interpreted whimsically – images of a frolicking, tax-dodging poet scampering through lush green fields spring to mind – yet our imagination is far and away the most precious muscle in the lump of pink gloop stored in our respective craniums. It is the muscle which has fostered all innovation in economics, engineering, arts and science. And like any muscle, it requires a strenuous workout once in a while to remain limber, ready for use when it truly matters.
Last week, in my graduate Entrepreneurship Opportunity class, I was asked to describe five potential new entrepreneurial ventures, one of which from my field of study (full disclosure, I’m a Masters in Finance candidate with an accepted position in the investment banking industry). Talk about an imagination exercise. My mind was whirring with possibilities from the obvious to the insane. A medical marijuana dispensary located in the United Nations building. An online music radio streaming service which delineates stations not by artist nor genre but mood. An electronic wrist tag designed to send 500 volts into the body whenever the wearer tries to check Facebook/Twitter/TMZ (a personal favorite). Sadly, only the top five could make it. Here they are, in their unadulterated glory:
1. A British-style Indian restaurant which cooks curry the traditional way, not the American way
I’ll be frank – the reason why Indian food hasn’t taken off in America as it has in Britain and much of Europe is not because of the palate of the American consumer, no matter how pathetic it usually is. (Sorry, but it has to be said. Your national dish is a Big Mac for Christ’s sake.) No, ladies and gentlemen, it is because the norm in Indian restaurants here is to cook a curry to order – which robs the sauce of its authenticity, the true Indian flavor. The very finest sauces take hours to prepare, not minutes. Sauces must simmer for a minimum of three hours to allow the meats to be infused with the flavor of the spices. Clay ovens must actually be made of clay, not sheet metal. Red meat sauces must be served with lamb or goat, not bloody beef! This isn’t McDonalds and I’m not Ray sodding Kroc. My restaurant would combine the authenticity of India with a simple menu to appeal to the Tex-Mex-loving denizens of the United States of America. And it would make millions.
Via: ecenglish.com
2. A golf instruction camp which also incorporates New Age meditation techniques
Anyone who plays golf regularly will tell you that the game is about seeking mental tranquility over the distractions of each tangible aspect of one’s surroundings. In other words, successfully fighting the urge to wrap your five-iron around the nearest oak tree after yet another sliced approach. What better mechanism to achieve such inner nirvana than meditation? Immersion tanks, group meditation class, acro-yoga; all of these will be complemented by swing coaches and a large bucket of range balls. And it would make millions.
3. A private equity fund dedicated to monetizing drug royalties in the biotechnology/biopharmaceutical space
As the more fiscally aware of you may have guessed, this is the project which relates to my field of study. To be honest, I interned at a similar enterprise this summer and I was stunned at the sheer size and growth of the biotechnology market – those prescient enough to invest their cash in an excahange-traded fund mirroring the performance of the S+P Biotech sector would have seen a return of over 48%, minus fees. This is a multi-billion dollar industry which is operating at an unprecedented level of innovation and productivity. Every week there seems to be an incredible breakthrough in cancer research, or multiple sclerosis treatment, or gene therapy. Even more stunning to me is the relative lack of market participants who could make big money with minimum fuss. This is one of the few rapidly growing sectors of the U.S. economy. With the death of the traditional R+D model, Big Pharma outsourcing to smaller, specialized research firms is only going to continue. Therefore, entering this market with $500MM in capital before it becomes too saturated by speculators will likely lead to significant return, probably in the millions. If anyone would enjoy a greater explanation of the financial and economic analysis behind my hypothesis, please leave a query in the comments section below.
4. A tuition service similar to TutoringZone or Study Edge, except completely devoted to interview preparation. Different industries taught could include corporate finance, investment banking, engineering, medical school, law school, accounting and others.
It is no secret that every Career Resource Center at every university is terrible. Interview preparation given by such organizations lacks realism and substance. Far too many of my friends have walked into important interviews with absolutely no idea of the shellacking they are in for. It’s almost like leading lambs to the slaughter. As a veteran of over sixty interviews and four investment banking superdays, I can tell you that interviewing is a game. As with any crucial game, the only way to prepare is through hours of constructive practice. Prospective interviewees will pay good money to hear tips from informative instructors who have actually gone through the interview process. Since tutors will likely have better jobs waiting for them in the near future, a lot of employee turnover would be an issue but good wages and flexible working hours should attract the requisite talent. If you were smart, you would use this service. And it would make millions.
5. A non-profit franchise which sets up 24-7 boxing gyms in disaffected areas. Will attempt to get subsidies from government for keeping potential criminals off the streets and in the gym
If this idea received government funding, I would love to do this myself. Not only would it give angry kids somewhere to let off their violent steam, it would provide youths with little else in their lives some structure, something to be proud of. Maybe even a father figure. Of course there’d be issues (concussions, insurance, etc.) but I really love this idea as a charitable venture. It wouldn’t make millions but it would make a soul rich…..as long as this fellow is not involved.
Via: readyforten.com
