How you can dream up winning business ideas

Are you holding back on starting a business because you just can’t seem to come up with that winning business idea?  Here’s how you can find one!

Have you ever thought you wanted to start a business but couldn’t come up with any business ideas?

A couple of ways to dream up winning business ideas

Let me share with you a couple of my favourite ways of brainstorming business ideas.  For example, if you’re trying to create a product, start with the noun that you are working on – let’s use shoes for example, and then add some other nouns or adjectives to them.  You could then have hiking shoes, luxury shoes, pet’s shoes.

Another common way of coming up with business ideas is to look at problems that people are having and try to solve those problems.  If your product actually solves a problem, then you know there is a market for it.  The bigger the problem you can solve the better your business idea.

Using the examples of the shoes above – Pet’s shoes allow you to bring your pets out for walks without bringing dirt in the house.  Hiking shoes could prevent you from slipping off a muddy path, and luxury shoes could make the wearer feel a sense of pride in wearing them.  All of these solve specific problems that people would face without your business idea.

Take your business ideas to the market

While it is not difficult coming up with business ideas, for the novice entrepreneur, coming up with a product and then bringing it to market presents certain risks.

You would need to prototype your pet’s shoes, the produce them and then distribute them.  A cost of several tens of thousands of dollars.  Even if you chose to go with a simpler business model, of setting up a restaurant, you would need tens of thousands in renovations before you get started, and then you would have to pay thousands for rent, wait staff, kitchen staff, and supplies on an ongoing basis.

In my 20 years as a lawyer, I often dreamt about a life doing something other than the law.  I brainstormed business ideas, and while I did come up with a few, most of them seemed just too daunting or risky.

Lower your risk with this model

Until I came across this business model of affiliate marketing – where you get paid just to make a recommendation.  You recommend someone else’s product online, and when a person buys it, you get paid.

If you’ve spent anytime online, you would have seen product review websites.  Those product review websites, often have links to products that are being sold.  You can see how they solve a problem, and they get paid for solving that problem –  helping people choose between too competing products.

Affiliate marketing is currently a huge opportunity, and continually gaining traction.  If you think affiliate marketing is only about Clickbank, and Amazon, you’ll be very surprised.  In fact, the top 3 industries which use affiliate marketers to distribute their products are

• Computers and Electronics
• Clothing/Apparel
• Business

That business model is low cost – you just need a website.  Furthermore, it never sleeps – you can be making sales 24/7.  Because you don’t actually need to man each store front, this model is also practically infinitely scalable!

This was the business idea I eventually landed on, and within 6 months of learning this, I managed to fully replace my lawyer’s income.  This idea has been translated into a blueprint – to get started with using this blueprint, submit your application to begin your training today.