Need a Business Idea That’s Guaranteed To Make You Money? Here’s Where You Should Start.
If what you want is a business idea that's guaranteed to make you money, not just money but fulfillment the answer lies in your within but you can get that idea by starting with the question WHY
Let’s first start off with that- When you know why you’re doing something, it can create clarity in your tasks, and effectively direct your efforts. So, grab a pen and sheet of paper, or a notepad and let’s get started.
Answer
this question: Why do I
want to start a business? Here are some probable answers.
·
to engage in something I
love
·
to create financial freedom so I can, “fill in the blank” (travel, pay off debts, buy expensive
things, etc.)
·
to have the freedom to set my time, choose when I work and what
I work on
·
to help others, using my skills
·
I hate my present job
Once
you know why you’re doing it, you’ll have a better idea of what your goals are.
Start With Your Skills
At
the heart of every business and profession is the solution to a problem. If you
can identify a problem that a group of people have and solve it for them, you
have the makings of a successful business.
Start with your current skill
set: Everyone has skills, passions and talents in one area or
another. What we however fail to sometimes see is the ability for those skills
to solve a problem for others in a meaningful way.
If
you are in doubt of what your skill(s) are you can ask family and friends to
help you identify your them. They may even point out strengths you never
considered. Keep in mind that you don’t need to have mastered that skill yet,
you can always continue to learn and develop it as you go along.
Invest
in yourself: Vital
is investing more in yourself to improve your skills. Learn more about your niche-
a small specialized portion of the population, and creating solutions to their
problems, then teach others what you’ve learned.
Once you’ve got that down, the next step is take time to do some
research. What problems are people
having that you could use your current skill set to help solve? This is where
picking a niche comes in handy.
Let’s say, you’re a stay at home parent, and one of your skills
is cooking healthy family meals that your kids enjoy. Your niche will likely be stay at
home parents. You can then narrow down your search by checking forums and
website or magazines that target stay at home parents.
What To Look out For in
Your Research?
Look
out for pain points and problems, especially those that are recurring. You may
find that cooking healthy meals is not necessarily where parents are
struggling, maybe it’s with purchasing healthy foods or the cost (money and
time) of healthy meals. You want to look at the questions people are asking,
and take note of the language they use to describe their problems. Nutritious
vs. healthy. Quick vs. easy.
Finally,
take note of products that offer solutions to those problems. These offer ideas
to you about ways in which you can present your solution; Youtube channels,
specialized cookbooks, how-to guides, online courses, etc.
By
the time you’ve followed all these steps, you would have established 3 things:
1.
A monetizable skill set — You know what your skills are and how
you can use them
2.
Proof of a Need — People have a problem you can solve, and now
you know who they are.
3.
A Profitable Market — If people are buying say cookbooks, or
paying for products, this shows you that they are willing to put their money where
their mouth is.
This
is the beginning of any business. Fast Food restaurants offer quick meals on
the go, Shoprite puts everything in one place so people don’t have to travel to
different stores, books entertain or instruct, cars transport and save time.
At the heart of every
product and business is a need, and you are now on your way to creating a
solution that people are already looking for!
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