EntrepreneurshipFebruary 26, 2018

Why do you fail at finding profitable small business ideas

Great ideas often lay right under our feet like ripe fruits. All we need is to notice them and pick them up.
Vladimir Kudinov
Co-Founder @Foculty

As you probably know, you need a good idea to launch a new business. However, every time you try to work it out, you get stuck. Today we will free you from uncertainty and explain step by step why you still haven’t come up with a profitable business idea and how you should fix this.

Let’s start at the very beginning and shatter some general myths preventing your from starting your business.

You don't need an innovation

A successful business earning you million a year doesn’t necessary take to be new Facebook or Instagram. Stop losing your days trying to invent a business idea which would explode the world. While you are busy with these thoughts, your next door neighbor is selling burgers from his van on the corner locking up the third Porsche to his garage.

Before setting up an impressive business for the mankind you should first create something to feed you and your family.
Vladimir Kudinov, Co-founder at FocFoc.

Instead of looking for a brand new idea, better take something with proven ability to work. When you launch your first business, what you have to do is to find a consumer problem, a market for this problem, and a good product in this market. Gripping an idea which already works, you don’t waste your time on all those puzzles.

When we were kids, our parents did their best to convince us of our talent and uniqueness. We should go over big with the world, invent something brilliant, and make the whole mankind happy with our glorious achievements. We shouldn’t follow the others, we must do it our way.

What they forgot to tell us is that any global goal should be reached gradually. Before setting up an impressive business for the mankind you should first create something to feed you and your family. Being finished with this, you may proceed to the next step. You grow your business continuously, gaining the ability to invest in something more substantial.

Having passed through all these stages and reached financial stability, you change your own life first, and then start thinking about how to change life around you. Getting to this stage means you have attained necessary skills and resources, so all your actions will constantly hit their marks.

Sell food to those who are hungry. Sell flowers to those who celebrate something. Repair broken iPhones. Acquire customers for businesses which lack them. Sell fashion clothes to those who are in style. Sell gadgets which are trending in other countries. Serve green tea to millions of people who drink it every day. Each and every business idea above is potentially stronger in positive impact it may have on your life than any startup trying to sell useless things.

What you need is not a new business idea, but a viable idea. Start noticing people around you who use these ideas and earn their millions. You can find profitable business ideas on every corner.

You don’t need investments

What’s your first association with the word “business”? Apple, IKEA. Starbucks… Usually, this concept is identified with market behemoths and their titanic efforts. We use to think of their founders as of ever rich persons, while actually most of these companies were built brick by brick from the scratch, and their creators were often broke as hell.

There are millions of opportunities around to launch your business without spending money. Just look for them and soon you’ll see how your first steps turn into a business you always dreamt about.
Vladimir Kudinov, Co-founder at FocFoc.

You don’t need money to start your first business. Use your computer to arrange dropshipping and sell some goods from China which are trending on Aliexpress. Use your designer skills to sell your digital assets across dozens of platforms around the Internet. Make a tutorial to tell everybody about the diet which has helped you to lose 20 pounds of weight.

Not ready to start your own venture? Try helping your entrepreneur relatives and friends instead. Your uncle who owns a factory would be happy if you’d help him to acquire new customers. Spend a couple of days to learn Google Adwords, set up the campaign and start earning your sales commission. Or just call his existing customers to make them some special offer or pitch.

This list can be continued endlessly. I saw those people, they make good profits. There are millions of opportunities around to launch your business without spending money. Just look for them and soon you’ll see how your first steps turn into a business you always dreamt about.

Finding a profitable business idea for evaluation doesn’t take a prospect of a huge company. Start with simple, clear ideas.

You don’t need employees

Generating a business idea we always think about people who would realize it for us. An accountant to control company’s spendings, a programmer to run company’s website, a designer to, well, design the promos, a copywriter to create brilliant texts which will help us to explain our idea to customers.

We depict a whole lineup of people who need to be paid and an office to sit at, whereas most of the tasks can be solved for a tiny fee or even for free without hiring anybody.

You can create the landing page to sell your product with simple page builders. It will take about a couple of hours and absolutely no coding skills.

You can always find a good and affordable copywriter on Upwork. We did it many times.

Almost any job can be worked out with a freelancer which is easy to find on special websites or on Facebook.

For most of the repeated and monotonous tasks arising with any business, we recommend using a personal assistant. This is a teammate protecting you against bothering and demotivating dues. The guardian of your personal time and the booster of your future business. With help of a virtual assistant, I became capable of evaluating different business ideas without wasting too much time.

If you’d like these processes to run without you being directly involved, try our marketing gigs. We help entrepreneurs to create landing pages, carry out email campaigns, look for the first customers etc. In case you have money but lack spare time, these instruments may provide you with a shortcut to create your venture with help of professionals.

Pursue existent models

Take a glance at existing business ideas and niches which are currently earning money to their owners. Thinking of the simplest way to realize your idea, try to break it down into several plain steps.

Great ideas often lay right under our feet like ripe fruits. All we need is to notice them and pick them up.

Your next step

Spend some time looking for profitable ideas for your business on this weekend.

  • Make a list of your friends who run any business or who are professionals at any field. Think of what they actually do and what you can do for them.
  • Recall everything what you’ve ever been paid for. People were already keen to buy these services from you. Can you grow it into a business made by other people’s hands?
  • Search for business niches which are demanded by existing customers.
  • Find 5 persons who have created their own successful business. Ask them for advice. Reach them out by email, on Facebook, meet them in person and buy them a coffee.

Write your comments about your commitment to start your own business. Tell about your todo plan. Let it be your very first step.

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