How to Come Up With Good Business Ideas in 7 Easy Ways

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If there’s anything as frustrating as time constraint to the entrepreneurs it’s definitely how to come up with good business ideas.

Guess you asked why?

Fine!

The catch about how to generate business ideas is this:

You need not just any idea to survive but good business ideas. And good business ideas aren’t easy to come by. Because it’s what really separates the successful entrepreneurs from the failed ones – the former don’t only know the right sources of generating business ideas they also know the right ways of doing it.  

While getting small profitable business ideas can sound like a daunting task to many entrepreneurs, it really need not being so if only you know what easy ways of finding business ideas are.

Fortunately, you don’t have to scour the internet again for resources on how to come up with good business ideas as I’ve already compiled for you here detailed and easy ways to do it. And most certainly, before you finish reading this article, you should be able to have your own list of business ideas.

In this article, I’m going to teach you 7 easy ways to come up with good business ideas that are worth investing your money in.  

So let’s dive into…

7 Easy Ways to Come Up With Good Business Ideas:

  1. Explore Your Environment or Community

Many people fail to realize that the first place to source for business ideas is their immediate environment. From the small businesses around to those small shops, there are unlimited ideas you can brainstorm for your new business.

If you’re not the only human being living in that environment, then I can bet you there are better chances for you to look around and get a huge list of ideas you can monetize there.

To streamline the process for you, here’s what you need to do:   

  • Create a list of services or products people near you are fond of.
  • Look for a loophole in these products and services that need closed.
  • Ask people around you for ideas.
  • Visit nearby shops, offices for ideas.

2. Leverage Your Skill or Occupation

Another great way to brainstorm for good business ideas is by turning your skills you have presently into a full-time income stream. Are you a freelance writer, content editor, or web designer, for example, working for an organization or individual?

Another great way to brainstorm for good business ideas is by turning your skills you have presently into a full-time income stream. Are you a freelance writer, content editor, or web designer, for example, working for an organization or individual?

Chances are if people are hiring you to do your current job for them then there is a market for it if you’d turn it to a full-time business. The good thing about this is, you’ll be able to stand on your own and render the same services to businesses that will be willing to pay you a standard price. Plus, you wouldn’t even need to start hawking about to get clients for the skills.

You could start a blog around the skills, for example, or become an online coach to people who need the skills. The options for you here are unlimited.

 If you find this difficult as an option, you can steal the skills of other people around you. How this works is by simply looking around for jobs or skills that are in high demand and then turn it to a business for you.  Here are good examples of 25 highest paying jobs in America that you may be able to turn into a business idea:

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Image Source: ZacJohnson.com

3. Leverage Your Hobby

Do you have a hobby that others will be willing to pay for? Is there a thing you’re good at that others will wish they’re able to do?

If you’re a good traveler or writer, for example, you could turn it into a business by starting a blog around that. You could create a travel or freelance writer’s website and teach people about how to save cost on travel or write.

You could also monetize the hobby by creating teaching materials, or create a paid membership site where paying members can have the materials for a price or join the site for a certain amount of money.

The opportunities here are by far limitless. For example, here are examples of how to get good business ideas turning your hobbies to a business:

Writing – create a freelance writing website or blog and monetize it by selling EBooks or resources on writing skills, etc.

Travel – Create a travel blog and monetize it with paid materials on how to get the best travel deals.

Blogging – Create a blog on any subject you’re passionate about and offer paid materials or courses on it to people who need the services.

Photography – Render it as a service to people or teach people how to do photography.

Fitness – Teach people on the safest and healthiest ways to lose weight and become smart.

Web Design – Help people with designing their website or teach them how to do it.

Baking – Teach people how to bake via your blog or other means and make money off it.

Cooking – Write materials on healthy eating habits and various food recipes.

Editing – Help people with creating content that’s easy to read, free from spelling and grammar errors, among others.

Public Speaking – Become a public speaker and turn it into a full-time job.

Coaching – Become an online coach for people in need of your expertise.

Social Media – Become a virtual assistant to businesses or teach people how to use social media for their businesses, among others.

Video Editing – Offer video editing as a service to people in need of it.

Buying and Selling – Buy goods on one online store (at a cheaper price) and sell it for a profit on another platform or marketplace. This is called arbitrage.

Overall, you’ll not go wrong with choosing any of the hobbies above that you’re passionate about. However, before you jump into a new career or dump your current job, there are a few things you need to do or consider:

  • Start first on a part-time basis.
  • Get established in your new business career before quitting your job.
  • Set aside finance to cater for your monthly expenses as you’re not going to be making money right off the bat.
  • Learn about your new job.
  • Get a mentor if you can to guide you further.

4. Become a Problem Solver

Everyone has a problem that s/he needs a solution to. By employing your detective power you can easily get a huge list of such pain points that are begging for solutions. All you do is once you curate ideas on this, prioritize it and see which one you think you might be able to provide a solution to.

Do your researches online for possible solutions to the problem, for example. And then test your findings to be sure it works and then package it into an EBook and sell it to your target audience. That’s it, and you’ve found a good business idea.   

5. Think Around The Weather

Do you live in a country where the weather is always cold or hot?

There are quite a good number of ways to come up with business ideas leveraging your environmental conditions. For example, during summer or winter, some certain products and services sell very well; this is a good opportunity for you to turn it to a business idea.

Think about things people in the parks, beaches or summer destinations will need and provide them with it. The opportunities here are unlimited, just think outside the cubicle.

6. Create An Easy Way for People

Is there an area of people’s life you think you can better or make more worthy for them? Is there a need or a service that takes people searching or going a far distance before getting it?

For example, people living in the rural or local areas always need certain services that before they can get them they always will need to go to the city. Is this a service you can render locally to them?

A good example is the use of POS in some African countries, where people turn it to a business opportunity by using it for rendering financial services to people in rural areas where there are no banks.

Look at your own community too and see how you can replicate this to come up with business ideas for yourself.

7. Explore the Web for Good Business Ideas

You’ve tried all your best but couldn’t come up with any business ideas off of your head, don’t worry! There’s still another option: turn to the internet.

Here’s how this works:

Blogs – Search blogs relevant to what you’re passionate about or will like to get an idea on. Each of the categories you see on the blogs is a possible business idea you can try.

Here’s what I got when I visit BrianTracy.com:

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Sample of Good Business Ideas From Blog Categories

Do you see that? Lots of good business ideas like personal development, sales training, business training, time management, leadership training, etc., under their categories. These are great ideas you can choose for a business idea.

Q & A Forums – There are many online questions and answers forums such as Quora and Yahoo! Answers where you can go to and get answers to any question bothering you. By going to Quora.com, for example, and typing “small business ideas”, here is one of the answers there that caught my attention:

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Sample Good Business Ideas From Quora.com

Can you see those good business ideas?

So take advantage of it and you’ll be surprised at the number of beautiful and expert answers you’ll get.

I can continue on and on like that but here are just a few great ways by which you can come up with good business ideas.

Wrapping Up: How to Come Up With Good Business Ideas in 7 Easy Ways

When trying to come up with business ideas, don’t forget to start from within yourself and your environment. And then think outside the box by exploring relevant blogs and forums relating to your interest.

Once you settle for an idea, don’t forget to consider all the factors itemized in number 3 above before quitting your job.

Overall, you’ll not go wrong following the steps and tips mentioned in this guide and, as such, you should keep it handy for every time use.

Thanks for reading!!!

Are you a business owner?

How did you come up with that business idea?

Kindly share your view with me in the comment box below.

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