How to come up with a million-dollar business idea in 60 seconds or less.
A bold claim I know.
OK, first things first I am going to make this simple and short. To be honest, if you want to get good at this, well actually we will save that to the end of this post.
These are the quick categories to get you started. The idea muscle works when you exercise it. So should practice coming up with ideas using each area.
A point in principle. Don’t expect your first few ideas to be great. Allow them to be rubbish. You don’t want to be critical only creative.
The more you practice the more ideas you will produce, the greater the quality of ideas you will improve, the greater you will increase the probability of you creating a great idea.
First category…
Problem Solving – Become a problem solver – Find common problems and fix them. Ask yourself what are the common problems that people face that they get annoyed or frustrated with? Brainstorm ideas to fix those problems.
Model It. – See what’s already working and copy it (use their blueprint). Find existing businesses that you have an affinity for and just copy it. Steal all their best ideas and add a few of your own. You can even take all the best ideas from a few different businesses in the same sector. You can be the one with all the good ideas.
Lag Time – Take what’s working from one place and move it to another. There are businesses that are doing great in one part of town, another city, another country, that would work equally well where you are. They may even eventually get to you. You can take that time gap and use it to your advantage. Find the businesses that are doing great and just bring them to another area or place.
Offline/Online – This seems so obvious now, but take what’s working offline put it online (and vice versa). This area is still so open to opportunities.
Improve Anything – There is a reason why you look to improve anything and it is this, you are not inventing the wheel, so you know there is already a market for it. Just think of a chair. It’s a simple idea something to sit on. Now think of how many different types of chair there are.
Simplify Anything – Make things easier for people. If you see something that is difficult in even the smallest way. Ask yourself “How can I make this easier?” When you have your answer run with it.
Change It – This is a big idea too large for just this post so I am going to be brief. Take what you have and make it Bigger, Smaller, Portable, Luxury, Budget, Digitise it or change it’s color, change its texture or feel. Put it inside something else, extract something from it. Combine it with something.
Shameless plug – I fill out all these ideas and dozens more in my book The Rapid Entrepreneur. I give these and dozens of more ideas and fill them all out with examples of each. If you are serious about wanting to really be a million-dollar idea creation machine. Then head over to Amazon and get your copy. HERE