To build a profitable business, you need a good idea first. And finding it is not as difficult as it may seem at first glance. Even if you don’t have a single business idea in your head right now, we promise: after reading this article you will easily find it.
«Life is very simple: you do some things. Most people fail. Some people do. If it works well, others will quickly copy it. After that you do something else. The main trick is to do something else.
Tom Peters is an American writer
You may be a born businessman, but you can never learn about it without a good enough idea for a startup. In their time, Jobs and Wozniak just decided to make computers more accessible, and it brought them millions. But for each such rise, there are a dozen falls, when an unsuccessful idea ruined the talented guys at the root. For your idea to be relevant and profitable, use our advice.
- focus on your preferences
You need not just a profitable sphere, but one that you like, in which you will be interested in developing. All the best business projects have grown out of the hobbies of their creators. And the work in the niche that you do not like, sooner or later will start to irritate, no matter how much profit brought.
- study the area of interest well
If you don’t know anything about any area, don’t start a business in it without thorough training so you don’t get burned out. You need to become a real professional in your chosen field to make your business prosper. So you will be ahead of many competitors at the planning stage that do not plunge into the topic so thoroughly. With a good knowledge base it is always easier to start, you will make fewer mistakes and reach a certain level faster. It’s easier for me to see the tiniest details in a professional’s eye, which can affect the result. You will also understand your clients more and be able to offer them a better solution to a problem.
- be in the trend
It’s very easy to make money on trends, but they change so quickly that the risk of not being able to make it in time is high. A couple of years ago, spinners were popular, and the companies that started to produce them, were able to unwind quickly. But to sell spinners today is unprofitable, because they have long been of no interest to anyone. And so constantly: the trend comes and goes quickly, the moment when it can be rich, very short. Therefore, you need to be aware of all the latest trends in your field. Analyze what is worthy of attention to notice what will really become a hit, and it will be interesting to you. And — most importantly — to be able to fit into this stream.
- Find the «pains» of clients
«Pains» are called customer requests that can solve good service. In every sphere there are «pains», some shortcomings and gaps. This can be slow delivery, poor packaging, and an untested formula. And no matter how great a product you create, if it doesn’t «cure» these «pains», customers won’t appreciate it 100%. So always focus on what your client really wants, and give it to him. By analyzing why he doesn’t get it from competitors, you’ll be better than them.
- Keep an eye on your competitors
It’s not embarrassing to watch your competitors, everybody does that. This is one of the easiest ways to improve your product. Find out what is already on the market, what is good about it and what you can do better. And just refine your already proven idea. So did the founders of Apple in the ’70s. After all, they didn’t come up with a personal computer, at that time IBM was already producing such equipment. But it was Steve Jobs and the company that made the PC accessible and convenient for ordinary users. And today, Apple is one of the most famous and profitable companies only because the developers found the weaknesses of competitors and corrected them in their startups.
- Test it
No matter how great you think of it, it may turn out that nothing works at the test stage. Be prepared for this and do not create everything at once. Test intermediate models of the finished product and improve it depending on the reaction of the target audience. Start with friends and gradually demonstrate your offer to a wider range of people. The product should be liked by at least one third of your friends and acquaintances before it is released into the masses.
If you highlight the most important thing, you need to find a really interesting sphere, understand it and understand how to make the existing proposals even better. And then learn the opinion of others about your product and bring it to perfection. If you follow these steps, you will certainly succeed!