10 Ways to Generate Profitable Business Ideas
Who knows – your next million-dollar business might be right underneath your nose.
1: Ask Questions
Get interested and involved in what’s going on, both around you and around the world.
Read popular blogs, watch the news, and find news portals that report on the unique, odd
and different. Find out what startups are launching and see what their initial idea is. Never
stop learning. You’ll be surprised how something you read in a science magazine, for
example, will give you an idea for your next information product and so forth.
2: Focus on Problems
If you can solve a real problem for people, you might just have a million dollar business.
Pay attention to the problems people face in their daily lives. Talk with others to find out
what’s bugging them, and check out forums to find the questions people are repeatedly
asking. Watch for problems in your own life. Is there a chore you hate doing? Can you
find a better or easier way to get the same benefit, without the drudgery? Look for
anything you can improve or positively change.
3: Go on a Web Quest
Exploring the internet is not only fun, but it’s also a great way to get new ideas. Go to websites
you don’t usually visit on topics you know little about. Ask yourself how this might apply to a
product or service you are considering. Often times the best ideas are simply the melding of
two ideas into one new solution, and finding the inspiration could be as easy as surfing the web.
4: Become a Traveler
There is something about traveling to new places that inspire your creativity and helps you
generate new ideas.
I know some of my best ideas have come on the plane ride home from a trip, thinking about everything
that I experienced while also making mental notes of what I need to do when I get back to work. The
two – travel and work – seem to meld into new forms and ideas, and pretty soon I’m feeling so creative,
I have to grab a pen and paper just to hold all the ideas before they flit away.
5: Carry a Notebook
Speaking of writing things down, always carry an old-fashioned pocket notebook and pen with you.
Or if you are truly resistant to the notebook, then take notes on your phone. Either way, make it a
habit to immediately write down new ideas and you’ll find you become an idea machine. One note:
Do not judge your ideas when they come to you. Rather, just write them down so you don’t lose them.
Later, you can better judge if a particular idea is any good. But if you judge ideas as soon as you
have them, new ideas will become scarce.
6: Build a Mastermind or Network Having plenty of people you can turn to for ideas can be a tremendous
help. It’s said that two heads are better than one, and it’s true. Two people working together can come
up with twice as many ideas as two people working alone. And just imagine how many ideas an entire
mastermind might have? Better still, having knowledgeable people you can turn to is a priceless resource.
That problem you’re having? You might spend six months trying to solve it on your own. But if you have
a friend who had the same problem, or knows someone who did, you can get your solution in minutes.
7: Do Something New A great way to inspire creativity in yourself is to do something brand new.
When we engage in a new activity, all of our senses are engaged, too, and our mind is paying full attention
and making new connections. And with these new connections can come new ideas. Not to mention the
fact that sometimes it’s just plain nice to get away from your usual thoughts and focus on something
entirely different. When you do go back to your brainstorming and idea generating, you’ll feel refreshed
8: Practice, Practice, Practice
Perhaps the best way to become an idea machine is to write down ten new ideas every single day,
regardless of whether or not you feel like it. The habit of continually finding new ideas can exercise
your ‘idea muscle’ and earn you a reputation for problem-solving and innovative ideas.
9: Focus on Making Life Easier People love things that simplify their lives.
As you go through your day, continually ask yourself what takes up your time, how can you make i
t faster or easier, and how you simplify things for the better. If you can offer people convenience
and save them time, you likely have a winner.
10: Combine Random Words
Let’s say you’re looking for the hook for your next book. The book’s topic is Publishing on Kindle,
but of course, there are already lots of books out there on that very topic. Here’s what you do: Take a
list of random words. Perhaps you use one of the online random generators to do this, such as this one: https://www.randomlists.com/things The random objects that come up are (for our example) a purse,
a banana, a key chain and packing peanuts. Combining each one with your idea for a book on Kindle
Publishing, you come up with these possible (and sometimes silly) angles for your book: • With this
book, you’ll make so much money on Kindle you’ll need a bigger purse to carry it in • This book makes
Kindle publishing so easy, a monkey could do it (banana) • Your book is the KEY to (benefit) (benefit)
(benefit) • You’re packing so many insider secrets in this book, it’s likely to explode the moment you
open it. The more you use these techniques to generate ideas, the better you’ll get. And you’ll
surprise yourself with just how creative you become, too.
Copied from Automation Secrets, Profit Strategies December 2018 Edition 1