How To Find Profitable Business Ideas
Business administration of ideas
Keep the Eyes on the Prize, Moneyball
Before we go any further, I’d want to ask you to do me a favor: Please don’t start panicking out.
When it comes to coming up with company ideas, most individuals become strange or worried… many individuals enjoy the concept of brainstorming ideas, but they can never seem to come up with one that they like well enough to implement.
Or, more often than not, they don’t believe it’s “good enough” to carry through.
I’m not sure why or how, but whenever we consider a prospective business venture we all seem to get a bug that makes us assume anything we come up with isn’t “good enough.”
In the next paragraphs to follow I’m about to give you my best advice and ideas.
Remember These Things at First:
- You don’t need a million-dollar concept to succeed.
This is crucial to remember since it’s easy to get caught up in the idea that we need to imagine bigger at first, what I’m advising you to do is to at least at first, think smaller.
Take, for example, high-level professional martial artists… even the most spectacular victories are almost always the product of world-class foundations, even when up against great competitors performing the basics really well is typically enough to win.
You can still make a lot of money and prepare yourself for more sophisticated things later if you can master performing simple things extremely well right now.
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- All services and goods offered by businesses whether online or offline are a direct reaction to a need. The goal of a business, in fact, the only reason it exists, is to address a problem.
You should be actively considering how you might help others with their issues on a daily basis, you should consider the problems you and others have, then come up with methods to fix those problems through an idea, product, service, or piece of software.
Steps to Find your Business Idea
The best way to do that it’s on the steps that follow below so make sure to open a word document or a blog note or even your pad and start taking notes, because what’s coming now it’s really useful and may help you to find your dream business/idea or help other people to figure out theirs.
1. Hobbies/skills That You’re Already Excellent at:
Everyone has SOMETHING that they’re excellent at, the difficulty is that we always tend to take our abilities for granted and we are unappreciative of the idea that the information and skills we possess might be extremely helpful to someone else.
If you’ve spent a significant amount of time learning anything new — whether in school, as an apprentice, or simply as a pastime or recreational activity — that time is quite valuable.
Rather than learning how to accomplish what you’ve done or putting in months (or years) of hard effort, many individuals would gladly pay you in order to obtain what they want far faster.
You can instruct someone else on how to perform a task… You may also utilize that expertise to give a service and do the task for them if you don’t want to teach it.
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2. Work-related Activities:
SPOILER ALERT: When looking for your first lucrative company concept “learned at work” talents are a wonderful place to start.
If you’ve ever worked, you’ve demonstrated that you have at least one talent or concept for which someone is ready to pay money, and that is damn excellent news right!
Like most people, you may believe that your hourly income or compensation reflects the true worth of your talents, but here’s the thing: a skill, service, or concept has no “true” or has an intrinsic value.
Your wage does not represent your actual worth; it just reflects your employer’s estimate of how much they can afford to pay you after all of their expenditures have been paid and they have earned a good profit.
If you work for a boss, you aren’t getting paid as much as you might be for your time period.
3. People Will Ask You for Certain Things:
The idea is that we all rely on experts to help us figure things out, whether we know it or not — and if people repeatedly approaching you for assistance, advice, or insight in a certain area, there’s a high possibility that others regard you as the expert or “go-to” in their circle of influence.
Meaning, you must begin to pay more attention to what others ask you for.
If someone asks you to assist them with something your thoughts should immediately begin evaluating whether or not it has the potential to become profitable.
4. Things You Want to Learn:
Find a talent or idea in which you are a novice yet wish to excel, then, as you gain experience, progressively enhance your skill set and look for customers ready to pay you while you study.
It’s similar to paying oneself to go to school for something you’re passionate about.
You don’t have to start from scratch. It’s fine if you’ve never done anything like this before because with practice you’ll always improve—and you’ll be able to earn money in the process.
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