Think you have a great idea for a business? Many people do. Finding an idea that will be successful is more challenging -- and takes a special process.
According to Ramit Sethi, a master idea generator, New York Times bestselling author and CEO of GrowthLab.com, a company where entrepreneurs go to launch and grow their online business, it's easy to create a list of random business ideas but without the right framework, you can’t tell if these ideas will ever pan out.
To help people out, Sethi has created a simple exercise to get the ball rolling. Below are some of his tips.
Sethi will be digging in much deeper on a Facebook Live on Jan 11. at 12 pm EST giving you even more tools on how to create a business idea that can make you money in 2017. You can sign up at the bottom of the page.
To begin generating business ideas, ask yourself these four questions -- all came from Sethi's "The Ultimate Guide to Profitable Business Ideas."
Question #1: What do I already pay for?
When you think about it, we already pay other people for tons of random stuff.
Question #2: What skills do I have?
What are you great at? As you make your list, you’ll start to see what people might pay you for.
Question #3: What do my friends say I’m great at?
Maybe your friends are always saying, “Wow, you give amazing relationship advice. You’re the only person I come to.” Or, “Your apartment is so organized. I wish my place looked like this.”
Feel free to ask co-workers and family,
Question #4: What do I do on Saturday morning?
Friend, Ben Casnocha told Sethi, “When you’re trying to find a business idea, think about what you do on a Saturday morning.”
Another way to think of this is: If you were locked in a room with your friend, what could you talk about for three hours straight?
By the end of these four questions, you should have at least 20 ideas written down.
Sethi will share these tips and others in a Facebook Live.
In the Facebook Live, Ramit will show you how to:
- Generate business ideas that work for you and your skillsets
- Uncover money-making angles for those ideas
- Share tactics to validate your concept with friends and discover new and unique pain points your business can solve
- Give you the confidence to move forward on your new venture