194: The Top 6 Ways To Come Up With Your Business Idea
Mar 6, 2023
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Exploring ways to identify successful business ideas, including trusting instincts and focusing on marketing. Emphasizing quick decision-making, leveraging weaknesses, and finding ideas through passion and expertise. Strategies for generating business ideas, such as researching online sources and seeking advice from experts. Highlighting the importance of adaptability and taking action in pursuing entrepreneurial endeavors.
Simplicity is key in business ideas; originality not required.
Leverage personal strengths and passions to find success in business ventures.
Deep dives
Go with Your Gut for Your Big Idea
When deciding on your big idea, trust your instincts. If you already have a concept in mind, don't overanalyze it. Start implementing and selling your idea without extensive product research. Choosing a product similar to what others are successfully selling is itself a form of product research. Focus on improving your selling techniques instead of attributing initial challenges to market suitability.
Identify Your Skills and Interests
List your strengths, experiences, and interests on one side of a paper. Align what you are good at with what excites you on the other side. Success in business often comes from reducing friction points by leveraging familiarity and passion in your chosen venture. Research and refine one to three topics that match both your skills and interests.
Become an Expert and Teach Others
Select a particular skill or subject to master and share with others. By investing time in studying and mastering a topic, you can position yourself as an authority capable of teaching and helping others in that area. Overcoming personal challenges and turning weaknesses into strengths can lead to valuable expertise that others may benefit from.
One of the reasons people get hung up on starting a business is that they think they need to have this big, crazy, original idea. That's just not the case. There are a million ways to make a million dollars. All you need is one simple idea and you're probably much closer than you think. In this episode, we cover the six different ways to come up with YOUR big idea. Want 300+ ideas for your business, check out our FREE Business Training where we include all of these!