Photo by Tranmautritam
This quick article is about generating ideas and starting a business that can lead to profits and fun. It’s a short read that contains tons of valuable advice from personal experience.
Keep It Simple
If you tend to get distracted, discouraged, and give up too soon, scale your ambition. Focus on starting small and getting a few wins before investing money and trying to scale your product or service. Tackling and executing smaller projects gives you the training ground needed to complete larger projects. It’s better to get a few sales per month with a smaller product than to spend months working on something huge that you’ll never complete. Don’t try to bite off more than you can chew. The idea is to test the waters with minimum financial or time investment before jumping all the way in. Future successes are based upon past successes.
Solve a Personal Problem
There are plenty of ways to generate business ideas, but the one I like the most is to create something that will solve a personal problem. If this is a problem you’re experiencing, then there’s a chance other people have that problem as well. With this approach, you’ll be invested in coming up with solutions and less likely to give up when things get challenging. Make it personal. One of my problems was creating a diet, sticking to it, exercising consistently, and following the advice of my nutritionist. It wasn’t until I finally accepted that I had food allergies that I started taking my health seriously. Solving my problem has given me the momentum to start a new business that helps others become motivated to change their lifestyles to become healthier and happier. This is going to be my second business and I’m looking forward to helping others.
Do What’s Interesting
In my tech startup days and when running a small real estate business, I always worked on projects I was interested in. Interesting projects helped me stay motivated when times got tough. If you work on something you’re interested in, you will have a lot of fun running your business. It will also be easier to attract partners and employees who share your passion for what you are doing.
Don’t Focus Only on Money
Don’t start something because you only want to make money. Money is secondary to passion, interest, and obsession. I made the most money while having fun and doing things that allowed me to learn as much as possible. I was driven by my desire to achieve my goals in a way that allowed me to be of service to others. When you are impatient and desperate for money, you will not come up with your best ideas. You will also be more likely to try to take advantage of others. Desperation pushes away income and profits.
Start Helping People For Free
Helping people for free gives you the tools needed to study your market. Experimenting lets you learn what people need and want to pay for. You won’t waste time and money creating something based on guesswork. Start a small project, such as creating an app or writing an eBook based on feedback from potential customers. Don’t be in a rush to create something complicated. As I mentioned before, start small, then scale your way up. As I build my newest business, I will walk you through the steps I’m taking to validate my ideas and get my first paying customers.
To sum it up,
- Start small and scale along the way.
- A great idea is to start by solving a personal problem.
- Don’t focus on making money right away.
- Start helping people for free so you can get valuable feedback.
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