After everything I’ve been through and all the different niches that I’ve played in, I always come back to one central idea – building businesses. It’s my passion. It’s what I live for.
The thing is, anyone can build a successful business. It doesn’t have to be destined for for an IPO or need to compete as a Fortune 500 company – it just has to finance your lifestyle for a certain period of time.
The problem is getting started.
Realistically, with today’s tools, getting started in business costs next to nothing. If you’re into selling products you can get them dropshipped. If you want to sell services, you’re actually producing your ‘product’ as you go.
But that’s not the point. In order to get on the entrepreneur track fast, you need to have an idea.
There are 3 solid ways I come up with new ideas for a business project before I invest ANY time in accomplising it. Those are:
- Recognize a problem
Figure out where someone’s pain lies. Are they looking for more information about business best practices? Perhaps they’re looking to save time while at work? Or maybe people need a better alternative to pick their next vacation spot.
When you can identify a problem, solving it turns into your product or service. That’s you business model. It’s terribly difficult to create a need. Instead, you need to solve one they already have.
- Figure out if there are competitors
Almost every niche has competitors. You need to figure out where these competitors are and what they’re doing. Every company has its issues. It might be price point or customer service. All you have to do is figure their issues out and do it better.
A better product doesn’t hurt either…
- Either start marketing or learn the best way to do it
Typically, when I venture off into a new project, I’ll start marketing it before I even start building the product or service. For instance, when I started http://creatingslogans.com, I started by doing a webinar to gauge interest. From that webinar, I got the first sale(s) which caused me to build out the product. Since then, the course has been sold out repeatedly.
The end goal is not to build a multi-million dollar business. It’s to be able to finance the life you want and quit your job. The best way of looking at it is breaking down your daily income. Ask yourself the question, “What do I need to do to make $500 a day?” Then, it’s just building it out.
** If you’re looking for more business building info like this, check out http://idearevenue.com. It’s an audio course I created going through the whole business creation process **
Your partner,
Jason Drohn
@jasondrohn
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