How to find a business idea?

[GoodOne123]

Starting a business has been on my mind for years. Now that I have been working my corporate job for 4 years Im getting fed up of working for someone else for mediocre wages.

How do you come up with a good business idea? Do you sit and just think about it for ages? Do you do lots of research? Talk to lots of people? I'm a bit lost so any help is appreciated.

 

[Romanemp22]

Starting a business has been on my mind for years. Now that I have been working my corporate job for 4 years Im getting fed up of working for someone else for mediocre wages.

How do you come up with a good business idea? Do you sit and just think about it for ages? Do you do lots of research? Talk to lots of people? I'm a bit lost so any help is appreciated.

It deppens of your knowledge and ability of what you can do best. Ofcourse whatever you want to do you just need to explore the market to be precise on what to aim for. Also are you planning to start bussines alone or with a friend/partner who share same ideas?

 

[GoodOne123]

It deppens of your knowledge and ability of what you can do best. Ofcourse whatever you want to do you just need to explore the market to be precise on what to aim for. Also are you planning to start bussines alone or with a friend/partner who share same ideas?

I'm planning to start it alone. There's no one in my social circle which I can see partnering up with. Although if I meet someone suitable in the future I will consider it.

I've got quite a diverse of this skills like programming, engineering, music, and fitness. I'm just waiting for that eureka moment when I come up with an idea I'm happy with.

 

[GoodOne123]

suppose just for a second that you already know what you want to do but you just keep pushing it to the side.

The problem is finding an idea worthy of pursuing. If I find that I'm willing to go all in

 

[TonyTenner]

This is something I struggle with too. It's very easy to go down a rabbit whole and get stuck on one idea. Like you, I'm waiting for the Eureka moment.

What I would say is that, once you have an idea, always be prepared to pivot and try something different. If you identify a problem, it's unlikely your first solution will actually work. I've worked in a few startups and with every one of them, the original idea failed, but the third, fourth or fifth one worked. A lot of it is pure hard work and perseverance.

 

[Romanemp22]

I'm planning to start it alone. There's no one in my social circle which I can see partnering up with. Although if I meet someone suitable in the future I will consider it.

I've got quite a diverse of this skills like programming, engineering, music, and fitness. I'm just waiting for that eureka moment when I come up with an idea I'm happy with.

I suggest you aim for programming or engineering, those are the branches that are still very rare in our society and not many people know how to do it very well. My advice would be in near future,if possible, to team up with a very good programmer and start doing your own business together, but also remember that good advertising and marketing is 50% in every job.

 

[tomfor]

I think you should open a business in the field of life in which you now work and have an idea of all the processes.
I started my site only after working in marketing for more than five years.

 

[CAPSLOCK BANDIT]

Whether you like it or not, a business involves taking a series of very serious, potentially forever life-altering risks.

Statistically, younger people's businesses will fail while an older person's business is more likely to be successful... This tells me one thing: The knowledge of finance, people and business is way more important than "Having Youthful Energy."

 

[tomfor]

In any case, I think you don't have to wait for your old age to start your project. Most likely, you need to study the history of other successful companies, then your company will be successful as well.

 

[speed dawg]

I've been searching for a business idea or side hustle for years, to no avail. I've come to accept the fact that I just do not care for my 8-5 'career'. I work this job to make money to live, though I do have kind of a passion for what I'm doing. The problem is, that passion likely will not lead to career advancement. I'm fine with that.

I've been wanting to invest in vacation-area real estate for years. The problem is, to do that right, you first need money. So, first I'm focusing on a side hustle. I mean, only two ways to make more money in my position - spend more time working my ass off in my corporate job for a promotion or bonus (not likely nor do I want to do this), or a side hustle which also involves more time (but the money is more automatic and less stressful).

I'm almost to the point of just driving for food delivery or Amazon or something. I like driving and listening to podcasts, so why not. But even this puts wear and tear on your vehicle.

 

[synergy1]

I have one idea I am working on myself, but will freely admit that getting ideas isn't exactly intuitive to myself. What you asked is, literally, the million-dollar question.

From my observations, it appears that many people have good (deep is better) industry experience and are able to develop solutions based on problems they observe. This isn't **** you'll read on a stupid blog, or even a business book...its 100% observation on your own terms. It sounds as easy and obvious as saying 'the sky is blue' , but when you take a look at some of the businesses on a listing site like angel list, suddenly its less obvious. Like one company deals with selling promotions from big companies - as if I would have known this was even a problem in the first place!

Here is another one - in a particular energy industry, they need to do inspections of electrical buses. However, it takes so much time to remove protective paneling, that they can not even satisfy base PM cycles to inspect all of the bus work in a decade long time span! Someone I know has proposed a device that makes this job 10X faster, thus allowing PM cycles to be completed much faster. Again, how could *anyone* know this without intimate knowledge of said industry? The likelihood is low that an outsider could conceive of something like this.

 

[AureliusMaximus]

How do you come up with a good business idea?

Start with yourself dude.

Meaning;

1. What is it that your are good at?
2. What is your core skills?
3. What are you passionate about and like to do?
4. What do you need to improve of your skills?
5. What are you not good at.
6. Do you have good self discipline and can work indecently?
7. Are you ready to work your butt out with 14 hours to 18 hours a day to reach your business goals?

Etc etc.

Then out from that analysis figure out how to take these skills into business of your own.

Remember that you will never be able to run a business that you are not enthusiastic about. If you hate going to work it will never be a success.

Also you should start business model that can grow beyond yourself. Running a one man show is usually a bad idea because you are only as strong as the weakest link in your team. E.g. trying to "know it all" and "do it all yourself" is in the long run an impossible task.

Running and starting a business is hard, nerve wrecking, heart breaking, friends will be lost and fun, amazing, exciting, challenging, personal developing on the same time and can be life changing in both directions because you might fail too.

Remember that not everyone is made for this and have the right mindset. Most just like to keep dreaming of getting rich, but they do not want to pay the price of getting there.

Do you sit and just think about it for ages?

No, you start right now. Because time waits for no man and if you never start you will never know if the business will work.

Like i said in other post here, quote:
Figure out fast your goals in life and then go after them with laser focus so will reach them early in your 20'ties and not when you are old and gray.

A wheel chair doesn't fit into the baggage compartment of a Lamborghini...

 

[AureliusMaximus]

I've been wanting to invest in vacation-area real estate for years. The problem is, to do that right, you first need money.

Then save money up and invest in smaller deals to begin with?

Remember if you invest in real estate banks can be willing to loan up to 90% of the capital requirements, but it has to be done through your business and not as yourself in persona.

The difference is that the bank will see it as business and not a private induvial saving up for the future. Also taxes and other things are to your advantage when you do it that way.

 

[DEEZEDBRAH]

Starting a business has been on my mind for years. Now that I have been working my corporate job for 4 years Im getting fed up of working for someone else for mediocre wages.

How do you come up with a good business idea? Do you sit and just think about it for ages? Do you do lots of research? Talk to lots of people? I'm a bit lost so any help is appreciated.

Carl black label logic swears by Corporate. Assuming that you are progressing.

Read mj demarco, Tim ferris, napoleon Hill, etc. Extract the information from the perspective of process oriented and framework. The ideas are dated. The process is played out but it helps to ensure that you unplug from the corporate world and culture. Edison discovered 10000 ways not to invent the lightbulb. Again, think framework and algorithm. Solve the problem. What problems? That's the Q. Monopolize that.

 

[Roober]

It's very simple actually...

Find a product that is good and people like. Make it just a little bit better. Or try to think of something that is missing.

Almost all of the best and most profitable things in history are merely better versions of something that already existed.

 

[BMX]

Sell pot or grow pot. If that fails then grow hops and sell it to the millions of breweries popping up in every podunk town and city because they WILL need these hops and are proving to be just as lucrative.

 

[switch7]

Extract the information from the perspective of process oriented and framework.

Again, think framework and algorithm. Solve the problem. What problems? That's the Q. Monopolize that.

lmao you're the master of saying alot and nothing at the same time

 

[DEEZEDBRAH]

lmao you're the master of saying alot and nothing at the same time

Hey guys, how do I make trillions of dollars drop shipping and being covered on cheetos dust?

Wait wut?