This is how I came up with 100 business ideas
Every time I want to start a new business I get attached to it. I get this feeling that if it doesn’t work I’m going to fail, and I’ll never have my own business. That’s why I decided that I want to make a list of 100 business ideas. I was able to finish it in 3 days. Here’s how I did it:
WRITING IDEAS DOWN
The first 45 ideas were easy to come up with because I already had them. I built the habit of writing ideas down: every time I come up with an idea, I write it down. What tends to happen is I have ideas come from nowhere, and, because I don’t write them down, I forget about them. However, since starting this habit, my list is always growing. Every time I read the list I am surprised at the ideas I had come up with but already forgotten! Another way I get ideas is discovering solutions to problems. I found that these solutions tend to be great opportunities for business ideas. Every time you have an idea come to you, write it down immediately. I know that if you say “I’ll write it down later”, chances are you won’t. The first 45 business ideas were easy, but I still had 55 more ideas to go.
PRODUCT AND SERVICES I PAY FOR
I thought about all the product and services I pay for but am not satisfied with. I wrote them down. Building a product/service you personally use is the best way to start a business because you know exactly how it can be improved.
MARKETS I’M FAMILIAR WITH
I can’t build products for markets I’m not familiar with. For example, I can’t build products for doctors, because I don’t know anything about what problems they need to be solved, Therefore, I had to identify the things that I’m familiar with. I started with my interests and hobbies. I used books, magazines, people I follow on Twitter, pages I like on Facebook, and friends who share these interests. I then listed overlapping markets like people in their 20s, people who like biking, etc. Then I thought about what problems these markets are having and how I could create a product or service to help.
ONLINE RESOURCES
There are some great resources where you can find ideas ready to use:
1- http://www.reddit.com/r/SomebodyMakeThis/
2- http://www.entrepreneur.com/businessideas/
I spent some time to find ideas I liked. Remember: even ideas that seem too silly to work may inspire better ones.
ONLINE COMMUNITIES
I think a great way to find ideas is to listen to your market. I went to websites where my target market asks questions, like Quora and Reddit, and saw what they talked about and which problems they want to be solved. I looked especially for the questions that had a lot of up-votes and views.
WHERE PEOPLE ARE LOOKING TO HIRE
I spent some time on Craigslist (my city and other cities) to see what people are already paying money for, and then I tried to come up with ideas that can help them improve what they are looking for.
Finally, I ended up with a list of 107 ideas. Now, when I try to validate my next business, I will think about it as a learning experience as opposed to a failing mindset.
P.S My friends and I are starting a small group to help us learn essential entrepreneurship skills like sales, marketing, finding business ideas, negotiation…… and much more through designed challenges (learning by practicing)
If you’re interested, DM your email and I'll email you details.
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Don't study entrepreneurs. Don't think about products. Forget creating a site or software.
Instead study markets and customers.
You can't go far wrong looking for problems in the status quo. Where business is taking advantage of or taking customers for granted. Therein lies opportunity. But only for those who are willing to go against industry norms, and "the way it has always been done."
Do what people in the industry say is impossible. They may be right, from a certain way of looking at things. For example there was a thread on something called PhoneBlocks -- snap together DIY phone design. Purported experts explained all the reasons it couldn't be done. Sounded legit. Then Motorola announced they were developing the very idea.
It's not the product. It's not about creating a product. It's about doing the impossible. That makes you mighty.
== Like This ==
Why the PhoneBloks phone will never happen
Motorola and Phoneblocks Kick Off Modular Phone Movement with Project Ara
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Not sure why everyone is bashing you instead of trying to help you and answering the question.
Simply find an issue you experience and fulfill that need. Ask other people to make sure you aren’t the only one and if they feel they have the need too then you are more or less guaranteed that there are many more like them in the world.
Then it comes to how viable it is business wise which you will pretty much need an MVP for. Use it to test pricing and whether people will pay for it and use it.
So first do a bit of research to make sure there is a need and then build the mvp and see if it is a viable business. The most you’ll lose is time but trial and error is essential in entrepreneurship. Don’t lose determination until something works.
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Hey Folks,
I often see people on this sub who want to start a business, become self-employed or just work on projects, but don't know exactly where to start. Some of the people here are highly qualified, have already gained years of experience in various companies or have special skills, such as software development or sales - but they still don't know where to start.
But don't worry: there are simple methods and ways to find a business idea that, if implemented correctly, can not only generate high revenues, but also fit everyone's personal interests. Basically, when you build a company, you usually spend a lot of time on the project and should therefore have a certain intrinsic motivation.
Spoiler: If you want to get rich quick, you should have perseverance and reflect rationally on what quick actually is and what being rich means. I'm also not going to explain how any weird network systems work, how dropshipping works and I'm not going to write down a blunt list of ideas.
In this post I will present the two most important methods for finding business models. One of them I have rethought based on an already existing method, the other method I borrow from a good friend of mine who has been doing nothing but business modelling for years. Incidentally, the following concepts are part of my consulting services on the topic of launching a product as side hustle. But enough talking - let's go!:
To find a business idea, you first have to be clear about what a business is and when people buy something.
A business is any project that you implement with the intention of making a profit. A project that is only implemented for one's own pleasure, without the concrete aim of making a profit, is not a business. Some entrepreneurs want to start a business just for the sake of it and do not understand that the lifestyle they project does not actually exist. Expensive watches and cars are nothing to start a business for, and those who focus solely on that but disregard the actual earning of money are better advised to find something else with less responsibility and stress.
When do people buy something? People usually buy something for two reasons: either the good to be purchased is a problem solver that solves a concrete problem and brings the customer out of a rainy situation into the dry, or the product or service to be purchased offers a special experience. Starbucks, for example, was not the first coffee shop, nor is it the best. Nor does it necessarily solve a specific problem, since the craving for coffee can be satisfied almost anywhere. However, a Starbucks is now more of a lifestyle. People like to show up there, even work in a Starbucks. The buying experience plays a big role. People give themselves a personal touch (through the misspelled names on the cups) and, to a certain extent, this also makes them familiar.
Problem solving is, in my opinion, the much better business. If you offer a solution to a problem, people will buy it if they really have the problem. Problems that would either be too expensive to solve themselves, would take too much time to solve or simply cannot be solved themselves. If the client is disadvantaged by the problem and is in a rain situation, the solution can be sold to the client at a high price. Business consultants, for example, do nothing but break down the problems of companies and offer solutions.
So if we want to find a business idea that fits our customers, the first thing we have to do is get to know our customer? But since we don't have an idea yet, we don't know where to find our customer. Do you see where this is going? Right: iterations, tests and experiments! But let's look directly at the first framework. So how do you find a business idea?
In Japanese philosophy and culture, Ikigiai refers to a state of fulfilment, or more precisely, an activity that is worth living for and that brings one complete fulfilment. Ikigai is the intersection of the following things:
Things I am good at
Things that give me pleasure
Things that make me money
Things that make the world a better place
Finding an activity that includes all of these is the specific goal of the first exercise you can do. The Ikigai Venn diagram is an extremely good way to find an idea in that it directly addresses your interests and characteristics, rather than being just a blunt list of things to work on.
For each of the above points, write down at least 5 things that come to mind. It is very important that you do not limit yourself. Do not think of a business at first. For example, if you like to communicate with people, this is a very important point, but it is not directly related to business. By thinking creatively and abstractly, we will eventually come up with a green branch.
When you are done writing down points everywhere, you should next try to combine points. Things you are good at might coincide with things you like to do. Try to get a differentiated picture and still include your points.
For example, if you are very good at social media, like dogs and could imagine making a positive contribution to your community, it might be worth considering offering social media support for dog trainers in your city. As you can see, the example is relatively rudimentary and obvious, but you can go infinitely deeper with this framework. The only important thing is that you don't hold back when writing down the points.
The Grannemann method basically deals with similar points as the Ikigai, but the whole thing is approached slightly differently. It focuses primarily on two core areas:
The personal perspective - This perspective focuses on all personal factors:
What passion do you have? What is your passion in life? Is there something you have been burning for all your life?
Own rights of disposal. Do you have licences or special rights? Do you have a professional fishing licence? Are you a trained lawyer? Designer?...
Epiphany. Do you have a thought of your own? A flash of inspiration?
As well as the Market Perspective - This perspective focuses specifically on the market:
What are the needs of your market? What product or service could solve the pains of the market?
What do many people have a desire for? What are their desires?
An existing business model that you are envious of. What would you like to have started before other people?
The points mentioned here can be presented and discussed in front of friends after you have written them down. In general, it is important to iterate, get feedback and keep checking what other people's ideas are. Once you have focused on one point, you can start to go deeper into the idea. Focus on the situation your potential customer is in, their specific problem and your solution to that problem.
Once again, people will buy from you if you can convince them that you solve a problem they have.
The methods outlined here are of course much better to apply in a workshop than alone at home without exchange. That's why I always recommend interacting with other people.
Another point through which you can find your business idea is through the three mega markets. There are three major niches where money can always be made:
Wealth / Business / Money
This describes all business areas that are somehow related to business. This also includes:
Design
Copywriting
Consulting
Programming
Web development
Salesforce
...
Fitness and Health
Nutritional counselling
Fitness Trainer
Meditation and Wellbeing
Mindfulness
Stress management
...
Relationships
How do I find a partner?
How do I keep my partner?
How do I learn to talk to my parents?
...
Actually, all kinds of services and products are always needed from these three markets. So if you have no idea what to do and still want a blanket answer without having to think about it, just choose something from these areas.
Once you have decided on an idea, you can flesh it out further and focus on a niche. A niche is a small part of your market that you can specialise in. Niches are interesting because specialists can always sell their service or product more easily than generalists. To take an old example: If you really want a pizza, do you go to the pizzeria that only offers 4 pizzas and focuses exclusively on real Italian pizza with the best ingredients? Or would you rather go to the omni-channel place where you can buy everything from sushi to burgers, pasta, pizza, Greek, Chinese, Mexican? Probably more likely to go to the pizzeria. Or if you want to have your eyes lasered, do you go to the ophthalmologist or to the doctor who has done it a few times but otherwise only measures blood pressure? Specialists always earn more money than general practitioners.
You don't know which niche to choose? Just pick one that feels best for you. Don't think too much about it. We're still looking for your business idea and part of that, as I said, is iteration.
Next, you should approach your hypothetical market. Try to find out what problems your market actually has. What are its wants and concerns? As I said, a business is a solution to a problem. You are the bridge between your client's initial state and his desired state. In order to do that, you first have to know these states.
I hope I could give you some clarity here. If you have any questions, feel free to comment or write me directly! Thank you!
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I recently asked dozens of founders of profitable businesses how they came up with their ideas. You can read their answers here:
https://www.indiehackers.com/round-table/how-to-come-up-with-profitable-online-business-ideas
So far we have answers from 32 founders whose companies' revenues range from $350/mo to $270,000/mo. Though the products tend to be SaaS applications with technical founders, there are a few non-technical founders in the mix. I've also added some filters so you can limit the results to the answers most relevant to you.
While a few people stumbled onto an idea during the course of some other project or business they were working on, a surprising number of answers come from people who deliberately set out to come up with a startup idea. I think the deliberate approach is the better one, and it's interesting to see different perspectives on how to go about doing that.
I'm going to keep adding to this page until it has many hundreds of examples across numerous industries. Do you guys have any ideas for what would make this page better?
Also, I plan to create more pages like this in the future. What other questions should I ask entrepreneurs?
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I love this article from Paul Graham on startup ideas. I tend to agree with him that deliberately setting out to come up with a startup idea is generally not a good idea.
http://paulgraham.com/startupideas.html
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This is how I guide my clients to do it:
Take a piece of paper and start writing:
What you like to do
What experiences have created an impact on you
What do your friends always come to ask you?
What are problems you see on your environment?
Write until you have at least 25 items. Don't rule anything out, if it came to mind, write it.
Now, what can you develop?
Forget scaling at this time, focus on working on something you like and that will keep you motivated.
Assign a category to each item on your list: Examples in parenthesis
High Volume, High Price (1 on 1 consulting/mentorship)
Low Volume, Low Price (Lawn Mowing)
High Price, Low Volume (Pet Grooming)
Low Price, High Volume (Ebook on how to survive freshman year)
Don't kick yourself trying to get the perfect classification, just go with what your gut tells you.
Then choose a HVHP or HVLP and work on it. There are tons of resources on the internet, or you can send me a message and I'll give you a hand.
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Not sure why everyone is bashing you instead of trying to help you and answering the question.
Simply find an issue you experience and fulfill that need. Ask other people to make sure you aren’t the only one and if they feel they have the need too then you are more or less guaranteed that there are many more like them in the world.
Then it comes to how viable it is business wise which you will pretty much need an MVP for. Use it to test pricing and whether people will pay for it and use it.
So first do a bit of research to make sure there is a need and then build the mvp and see if it is a viable business. The most you’ll lose is time but trial and error is essential in entrepreneurship. Don’t lose determination until something works.
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