TNI readers push entrepreneurial idea into finals

Thanks to readers of The New Individualist, managing editor Sherrie Gossett’s conception of live, interactive webcast news events just got one step closer to reality: She’s now a finalist in an entrepreneurship contest sponsored by Advanta Corporation. The grand prize: $10,000.

As explained in an email blast we sent out Wednesday, the money will specifically fund a cutting-edge "TNI TV" feature to appear on our forthcoming website, which will go online at the beginning of 2008. The technology will enable us to present live, interactive shows that will feature our writers, editors, and special guests. Online audience members also will get to participate by asking questions of the guests. In a nostalgic nod to 1950's television, our advertisers will appear live to share their wares. Real-time polling will be conducted during the shows, too. The participatory interviews will be recorded and archived on the new TNI website.

"We're thrilled with the enthusiastic and immediate support we received from readers," said Gossett.  "It's just one more indication of how the TNI reader feels a deep sense of ownership in the magazine."

Gossett came up with the idea after reading Blue Ocean Strategy (Harvard Business Press). The book emphasizes unlocking uncontested market space by creating entirely new sources of value that in turn drive new demand. “The ‘blue ocean strategy’ move makes the competition irrelevant,” said Gossett. “In this case, the interactive TV concept will change the very conception what a magazine is.”

The entrepreneurship contest is playing out on a new website funded by Advanta Corporation, called Ideablob.com. This is a Web 2.0 social networking site geared toward would-be entrepreneurs and small business owners. It’s part of a trend: Institutions that cater to small-business customers are starting similar online communities. Some function as virtual focus groups and online communities. Advanta’s site provides grants to boot.

“We are bringing the support of the angel networks that Silicon Valley enjoys to Main Street businesses and aspiring entrepreneurs,” says Advanta.

So who wins? The idea with the most votes.

This week 8 finalists, including Gossett, will compete for the $10,000 prize. That means we’ll be asking our faithful TNI readers to vote again. We will send a notice via email this week.

Ideablob has been described as one of a group of technologies at the “core of the changing IT economy” which is characterized by a “shift of influence from a central authority to the many individuals at the edge of the network. Aggregated, these individuals are driving new learning, new understanding and new value.”

Entrepreneurship and individualism: sounds like a good match to us.

The Ideablob entrepreneurship contest has been cited by USA Today, Inc.com, Entrepreneur, The San Jose Mercury News, SmartMoney.com. The Motley Fool, and Business Week among others.