Saturday, 3 November 2007

How to figure out your next million dollar idea

You may ask yourself. I know I want to start a business. But I don’t really have any idea on what type of business I should start. How can I figure out the best idea for my next million dollar business? How do I begin? Here are 22 ways to research your next million dollar idea:

1. Ask yourself – what really bugs you? What are you looking for? What do you need? What is your biggest pain these days that you wish someone can help and solve?

2. Ask your friends – start with people who are around you. What do they care about? What are their pains? What do they need every day?

3. Ask your parents and families – start with people who love you. What do they care about? What are their pains? What do they need every day?

4. Ask your mentor – Do you have a mentor? Mentor doesn’t have to be your friend or family or parents. A mentor is someone you trust. Someone who can guide you on things that you don’t know. A mentor is someone who wants to help you. Ask this person who he/she would do.

5. Magazine / Newspaper – What is on the headline lately? What do people care about?

6. Send out Survey – Ask people that you don’t know. Ask your friend to forward your survey. What are their pains and what they are looking for?

7. Google / Internet – Research on what is the hottest website or blog lately?

8. Book – What is the hottest books these days? And why?

9. Movie – What is the hottest movie these days? And why?

10. News – what is on the news these days?

11. Your hobby – What do you love doing the most? What do you enjoy the most? Can you turn your hobby into money making businesses?

12. Volunteering – Is there any volunteer opportunities in your neighborhood that you enjoy?

13. Small Business Association / SCORE (Counselor to America Small Business) – Go check out these organizations. They will definitely give you good ideas.

14. Organization /Association – Join association that interest or inspire you. Hang out with people that you want to become one day. They will give you ideas.

15. Favorite TV – what is your favorite TV show? Why do you like it so much? Write it down. It will give you some ideas.

16. Idol – Do you have an idol? Why do you like this person so much? Write it down. It will give you some ideas.

17. Favorite book/comic – Do you have a favorite book or comic? Why do you like this book so much? Write it down. It will give you some ideas.

18. Favorite games – Do you have favorite video games? Why do you like it so much? Write it down. It will give you some ideas.

19. Dislikes – What activities or things that you dislike the most? Would other people also hate it? How can you solve this problem?

20. Travelling – if you are travelling somewhere, ask yourself – what kind of products or services would people over there want? Vice versa – what kind of products or services would people from home want from there?

21. Good Cause – What kind of good cause do you support? Why? Write it down!

22. Favorite leader – Do you have a favorite leader? Why do you like this leader so much? Write it down. It will give you some ideas.

Thx to Youngster Inc

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