Everyone likes to think their idea could make a million. But very few will.
When you do find something that is truly innovative, disruptive and exciting you can’t help but get a buzz. The trick is turning the idea into a reality.
I had an idea in 2001 to offer online discount vouchers. This was long before Wowcher and Groupon. I even registered VouchersOnline.com – but I didn’t quite get the business started.
12 years ago my son and his friend came up with an idea to post a pitch online and have viewers rate it. They bought ‘ratemybiz’ but didn’t quite get around to setting up the site.
So, when you discover an idea that’s brilliant and being turned into reality it’s doubly exciting.
Honcho is a new business that’s going to launch next year. Their idea is beautifully simple.
Instead of using price comparison websites (which charge a small fortune in commissions) Honcho has set up a reverse auction application where insurance companies bid for your business – making you the head honcho.
Imagine watching insurers bidding for your custom in real time ….. and your premium dropping by the second !
It’s so simple you or I could have thought of it – but we didn’t.
Now you do know about it, you could copy it – but you won’t.
That’s the beauty of brilliant ideas. We all have Aha! moments. The real genius is turning the idea into a real thing; while others just talk.
The Honcho people have been working on their idea for a couple of years now. It turns out that this ‘simple idea’ is actually extremely complicated to set up; getting agreements with the insurers, developing the technology and creating the marketing.
But they’re doing it.
I’ve been a part of Honcho for over a year now, as an advisor and more recently as an investor.
It could be the next Uber, Airbnb or PayPal. It could last for 6 months and fail.
What I do know is they won’t ever say, ‘If only…’.
Honcho are crowdfunding for their next phase. If you’d like to see their pitch and watch me interview their CEO you can do so here. www.CrowdCube.com/honcho