đ§ A Thermostat that Calculates Your Electric Bill
How to Floor and Ceiling Goals and 5 Cool Business Facts to Use in Conversations
1. Business idea of the Week: A Thermostat that Calculates Your Electric Bill
This idea is a bit different from the normal ones. This is one of those âthink bigâ ideas.
A product idea with major competitors, and physical product production.
Letâs dive in.
Have you ever blasted your homeâs air conditioning or heat, only to receive the biggest electric bill youâve ever seen?
Me too.
Running the A/C feels somewhat like a mystery. You know itâs costing you money, but you never really know how much.
The idea: Create a smart thermostat that tells you your realtime spending.
This thermostat will break down your electric costs by the minute, hour, and day.
For example, itâll show that youâre spending 5 cents per minute or $3 per hour or $72 per day, and keep track of your monthly balance.
The device will use a simple calculation of (energy usage x current electric rates).
With this type of information, homeowners will be able to make the real time decision to adjust their energy usage, and wonât be shocked by the bill at the end of the month.
Letâs be real. This isnât something you can just throw together real quick and start selling. This will take R&D, prototypes, engineering, etc. You will need to create the tech that will read energy usage and calculate with real time energy rates.
This isnât an easy one, but has the potential to get into the homes of millions of people.
This idea has the ability to solve a huge problem, and reach millions of customer.
Let me know what you think!
2. How to Set Floor and Ceiling Goals
Setting goals is one of the most important things you can do to be successful.
But the way you set your goals can make a huge difference in the outcome.
For example, do you set a goal on the input or on the output? If you want to close 7 deals, should you make the goal âclose 7 dealsâ or âpitch 700 peopleâ?
And then you can add in time-bound factors like 7 deals per week, or 7 deals all year.
There are many arguments on the correct way to set goals, but letâs talk about setting floor and ceiling goals.
Setting floor and ceiling goals is a method you can use to keep yourself accountable and set more realistic goals.
Your floor goal will be the goal that youâre happy with. Itâs not going be be a grand slam win, but its something to be proud of.
On the other hand, your ceiling goal will be your grand slam win. The goal you didnât really think was achievable, but is your ultimate dream scenario.
Letâs say youâre starting a podcast and want to set your goals.
Floor goal = Release one new episode every week for 1 year, and get 1,000 monthly listeners.
Ceiling goal = Get your podcast to 50,000 monthly listeners and rank in the top 50 business podcasts in year 1.
This method of floor and ceiling goals will work for almost any goal youâre trying to set, as long as you write it down.
3. 5 Cool Business Facts to Use in Conversations
Hereâs 5 business facts you can use to impress someone at a party:
Wal-Mart makes a profit of $1.8 million every hour.
Taco Bell flopped in Mexico, because Mexicans didnât understand the americanized menu.
Pepsi got its name from the digestive enzyme âpepsinâ.
If Bill Gates were a country, he'd be the 37th richest country on earth.
More people in the world have mobile phones than toilets.
Source: https://www.buzzfeednews.com/article/jessicamisener/57-fascinating-business-facts-that-will-blow-your-mind
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