I get asked all the time, “How do you come up with a great idea?” There is a process to coming up with good ideas and today I’m going to show you how.
Reading
You have to read a lot. When you read a lot, you’ll come up with more ideas. Read about great people and how they came up with their ideas. Some resources are biographies, INC. Magazine, etc.
Journaling
This is where you WRITE DOWN your ideas. Whether big or little or just a piece of an idea, write it down. A lot of the time I’ll even go out and buy the domain for the business immediately.
Look for Solutions to problems
Most of the businesses I’ve created have been the result of a problem I had. I either couldn’t find someone to do the job, couldn’t get the level of quality I desired, or couldn’t get it at the price I wanted. These will often turn out to be great business ideas.
Look For Improvements
Where can you improve something that already exists? Look for ways to improve upon the experience that another company provides.
Network Or Mastermind
Iron sharpens iron. You’ll come up with better ideas when you have a group of people you trust to bounce ideas off of. They can help validate good ideas or trash bad ones.
Being SECOND Can Make You RICH
What am I talking about? You don’t have to be the absolute best in the industry to be successful. Niche down and create a very profitable business in the same industry. Second is OK!
Entertainment
If you can create interest and acquire eyeballs, you have a something you can monetize and create a business around. Social media personalities, athletes, musicians.
