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Social media sites are really funny animals and as such need really funny names.
A new site called Ideablob fits that requirement and is doing something that I find strangely intriguing.
Budding entrepreneurs are encouraged to join the site and submit their business ideas and for a chance to win $10,000 towards fulfilling them.
Other members cast votes that move ideas up the list toward qualifying for the prize. The real mesmerizing part of the site though is all of the comments that the ideas generate. Suggestions, praise, tweaks, add-ons and the like run down the side of each idea making for a really interesting stream. It has a bit of a virtual focus group feel to it.
Here’s a short video focused in ideas.
In addition, people can ask the community to weigh in on questions that have that may or may not be related to any of the ideas on the site.
Worth mentioning is the fact that the site is created and sponsored by a credit card company and the on-site branding is one of the lightest treatments I’ve ever seen. (Note the inspired by Advanta emblem in the header) This kind of hands off, low-key promotion is tough for some marketers to pull off, but I think it adds a level of transparency and trust that is key to the success of these types of sites. Nice work Advanta.
It’s a unique twist and worth a visit.
So, what’s your great idea?
Comments
This entry was posted on Friday, November 16th, 2007 at Nov 16, 07 | 3:16 pm and is filed under social software. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
What stops someone from reading the ideas at ideablob and just stealing them?
To answer Mike’s question –> Probably nothing.
But an idea, in and of itself is worth little to nothing. It is only after execution has been put on top of an idea that value is created. Think of legally protectable IP. Trademarks are worth nothing until a brand is built. Patent likely involved a great deal of work to get idea to something concrete, even if just on paper. Copyright is protection of the written idea only.
Besides, especially if it’s on the Internet, it is more or less instantly replicable. Your advantage must come from something beyond the idea.
Put your ideas up on whatever the site is, but don’t but up your competitive advantage.
The problem with this model, while a good start, is that the “contest” is more of a popularity contest then a best idea contest.
It would be much more valuable if their were business experts or seasoned entrepreneurs weighing in or weeding out ideas.
By the way my idea did make it to the finals last month.
kerrin - I can’t really argue with you on that one. What was your idea?
John,
My idea was a pacifier that lights up when it falls out of a child’s mouth. Currently my patent is pending and I am writing a business plan for it.
Thanks for you insightful blog and book. I have learned allot from you!