How to Find a Profitable Business Idea

Many people like to brainstorm ideas, but don’t find an idea that they like enough to execute. All businesses, whether it is a service or product, online or offline, are a direct response to a problem. The purpose of a business is to solve a problem. If you are an entrepreneur, you have to change the way you look at the world and seek opportunities to serve people and be paid in return.

With that in mind, here are 4 ways to find a profitable business idea;

  1. Hobbies/Skills you are good at.

Everyone has something they are good at, the problem is most of us take our skills for granted. We don’t always appreciate the knowledge and ability we have that could be valued by someone else that doesn’t have those skills.

Often times people are more than happy to pay in order to get what they want quicker than they would trying to accomplish it on their own. So put the skills that you have developed through school, as an apprentice, as a hobby or a recreational activity to work.

  1. Things you’ve learned from work experience.

If you have ever had a job, that is proof that you have at least one skill or idea somebody is willing to pay money for. Skills you have learned at work are a great place to look when you are fishing for a profitable business idea. The skills you have acquired along the way are yours to use, at a price that you think is fair.

  1. Things people ask you for.

We lean on experts to help us figure things out, and if people are asking for your help, advice or insight in a particular area, there’s a good chance that others look at you as an expert or a go-to in their circle. So assess whether your expertise is something that could become profitable when these situations arise.

  1. Things you want to learn.

Find a skill or idea that you are a beginner in, but that you want to become better at. Gradually improve that skill set and find customers who are willing to pay you as you learn. What could be better than paying yourself to learn about something you are interested in? You don’t have to start as an expert but you can get there over time.

Like a lot of good things in life, it is hiding in plain view.

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