My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Let the public name your product/service through viral contests
Why It Works
People love participating in creative challenges, generates organic social media buzz, creates emotional investment in your brand
Prerequisites
How to Execute
Create clear contest parameters and submission process
Promote through social media and community channels
Set up voting mechanism for public participation
Plan for viral/joke submissions and decide how to handle them
Execute on the winning name to maintain credibility
When It Fails
When the audience isn't engaged enough to participate, when you can't handle unexpected/inappropriate suggestions, when the naming actually matters for legal/branding reasons
Real Example
“Minnesota DOT's snowplow naming contest generated widespread social media attention and community engagement with names like 'You're a Blizzard Harry' and 'Clearopathra'”