This article is all about finding profitable online business ideas surrounded around you but in your current state of mind, they are invisible from your eyes.
Read this article carefully if you want to be master finding profitable business niches.
Oftentimes you listen to the words – Business is not easy. Business is risky. Go get a job, it’s safer than business.
When you plan to start a business, 95% of people around you suggest in the same way, I’ve described above.
If you ask me, they are not exactly wrong. Its bitter truth that above 90% of businesses fail within a year after starting.
Even, I’ve failed several times. But with time I have found the key to success in business, and today people know me as a successful businessman or entrepreneur.
Do you want to know the characteristics of an entrepreneur that diffretiate him from others?
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Then read my article, 10 Tips to Become a Great Entrepreneur in 2022.
Come back to the topic…
So, what’s the key which makes a person a great businessman and puts a tag of failure on another one?
It’s the sense of understanding the NEED of people.
It’s said that “Necessity is the mother of all invention”. Where there is NEED there is an IDEA and ultimately INVENTION.
And here starts…BUSINESS.
Most of us follow the crowd blindly.
We inspire by someone who is already doing business and successful in his/her area of expertise and blindly copy their business idea to get rich quick.
Actually, we don’t want to invent ideas or at least manipulate the existing one to make them more helpful.
We just copy successful people’s ideas and use them to get quick success.
That’s the main reason behind the failer of most of the business.
If the market is already populated with the solutions of a particular problem.
Then why someone come and buy from you the same solution, setting aside the experts of the product or service who are already established and have been performing well from a long time.
Whether it’s an offline business or online one, the rule is the same.
“Getting an idea which has space to grow.“
“Not much competitive…and of course has an audience.“
But the problem is, finding the right idea is such a tough job. Especially today, when the market is full of products and services. Most of the areas are already covered.
No, it’s not…
There is no “the end” of ideas. As human civilization go forward, our need will increase.
And, to fulfill the needs, new ideas will come into play each and every day.
In the internet world, where you are going to start an online business, the sky is the limit.
But the problem is, how can you find Profitable Online Business Ideas?
Read on…I will give you the key.
Check out my recommended Tools and Resources which help you in your online business.
Find Out: What’s Your Expertise?
The very first rule to get success in business is starting it around your expertise.
Here is a free online tool which helps you in finding your expertise.
If you are expert in a niche, you can solve the problems related to it. But if it’s totally unknown to you, there are 101% chances you are going to be failed.
So, first of all, find out your expertise.
No, don’t give me an excuse that you don’t have any expertise.
Actually, you don’t just have one, but several ideas in your mind. The problem is we don’t know how to find them out.
So, how would you find the niche you are expert in?
There are two ways to find out the niche you can work on.
From inside your mind and hacking other’s mind.
Let’s first look inside our own mind.
To do that first,
CREATE A LIST…
Each and every people in this world are expert in some areas.
Especially the niches you are currently working in for your bread and butter. But not just your job, you can also find the niche around your hobbies and skills.
Some people like to play musical instruments, some of us play different games, skills we have learned in our life.
You can use Listmoz to create your list online.
Now, you have your EXPERTISE LIST handy, it’s time to find out niche related to your expertise.
Think about all the expertise you have listed, and find the products and services related to them.
Let me show you an example.
Suppose you are an expert in playing guitar.
Now think about the product and services related to guitar. There are several. Guitar instruments, picks, guitar amps, guitar software plugins, guitar courses.
Now create a list of the products and services related to each topic you are expert in.
After finishing up your PRODUCT AND SERVICES LIST, now you have 100’s of niches to dive into them.
Now its time to filter your Product and Services Lists to find out the ones in which you are more familiar and can sustain your business without feeling bored after a few months and decide to drop out.
Filter Your Product and Services List
In most cases, people chose a niche thinking that they have some expertise in them, though they don’t love to work on those niches.
Niches that are imposed on you by your parents and the pressure of your surroundings, cannot be sustained long.
Where, there are some niches which you really love and already expert in them, but due to the fear of your parents and the peoples you haven’t dived into them.
So, filtering is very important before selecting a niche for your business.
How will you do that?
Take your EXPERTISE LIST and think about all of them, do you really love them? Can you work for hours on them without getting tired?
Can you work on those niches without getting a penny for a long time?
If all yes, then that’s the perfect niche for you.
Filter out all the niches according to the above questions.
Connect With Supreme
If you are confused about choosing the right niche from your list, then you must get help from the SUPREME.
There are tons of examples in human history when the IDEAS CAME DIRECT FROM THE SUPREME TO THE MIND OF THE INVENTOR.
Yes, in the book “Think and Grow Rich” the author has given several examples when the inventor got the idea direct from the god.
If you think it’s hard then you are wrong.
Anybody can get an idea from the SUPREME mind.
You just have to learn to keep your mind peaceful and thought-free. Study shows that in a day there are 70 thousand thoughts comes in mind.
Most of them are useless, but some of them are REAL GEM if you could catch them out.
So, how would you catch them?
You should practice meditation to acquire a thoughtless state. It seems hard but with practice, it can be achieved.
At least for a minute.
And that one minute is enough to connect with the supreme.
Do you know, most of the successful entrepreneurs, whether its Jack Ma, Steve Jobs or Mark Zuckerberg meditate on a daily basis?
For the one and only reason, GREAT IDEAS COME IN A PEACEFUL MIND.
Another reason is, supreme lord doesn’t just give us ideas but help us to walk in the right way to achieve success.
Hack Other’s Mind
Another great way to get Ideas is to hack other people’s mind.
As your mind have several great ideas, other people’s too. You just need to be expert in getting them out.
Many of us are a mine of great ideas, but we don’t want to work on them due to the fear, I’ve described above.
We can talk to people around us and get several new ideas from their mind. The only way is to talk to them.
You can do conversation with your near ones, such as wife, father, mother, friends, colleagues.
I’m dam sure if you talk to them, you’ll get several new ideas that you haven’t even known before.
Now let us come to one another great source of ideas, which is adopted by several companies and today they are running successfully.
Adopt an Existing Niche
You can adopt an existing idea and implement it to some another geographical location to get quick success.
Suppose, you’ve found a local business which is quite popular in your area.
You can do the same business on the other side of the world.
As it’s already successful in your area, big chances are it would be successful in other geographical location too.
There are two ways to adopt an existing business…
Local to Global Online Business Ideas
If you see a local business which is quite popular in your area, you can implement the same idea globally. Internet is the place where you can start it sitting in your home.
You don’t need to go to that particular location to sell your products and services. You just need an e-commerce website and shipping partner (if you have a physical product).
Let me show you an example…
In India, Rajasthani Jewelry is quite popular and even foreign tourists buy them when they come to India.
If you search for Rajasthani jewelry on the internet, you will find many websites which are already selling these jewelry items abroad, especially the United States and the UK.
So, you can search for a product in your locality which is also polar among foreigner tourists and start selling them abroad.
It’s called Local to Global Business Idea.
Now come to the 2nd one…
Global to Local Online Business Ideas
You already know about OLA – the cab hiring company operates in India.
They adopted the existing business Idea from Uber (the global cab hiring company) then changed some features and launched in the local market.
Today they are the biggest competitor of Uber.
The growth of OLA tells us that we can adopt an idea from the global market and implement with some changes in our local market to get quick success.
The benefit of adopting an idea from the global market is people already ware of the product of services.
They are likely to adopt if you make some changes according to their interests and demand.
You can conduct a survey about your adopted idea on Facebook and other social platforms where you can easily get local peoples who are willing to help you in choosing the right idea.
In the survey, you can ask about the changes you should make in the product and services people already using from the global market.
Surveys help you modify that existing idea as per the demand of local people.
So here were all the tips and techniques you can use to search for the online business ideas.
Conclusion: How to get Profitable Online Business Ideas
Above you’ve got the best tips on how to find ideas and niches for your business, whether it’s an online business or brick and mortar business.
Leverage these tips and you would be amazed how many ideas and niches you have around you, which are hidden because of just your limited awareness.
When you become aware of your surrounding by brainstorming, meditation, discussing with other people and researching the market gap, you get tons of ideas and niches that are untouched.
You just need to be aware of the tips, I’ve given above, and see the magic.
But finding niches around you is not the final step. You’ve to analyze them with some tools to get the most demanded niche for your business.
To become successful in any business you must have to take the first step in the right way, otherwise, whatever effort you put on your business it won’t work.
Niche selection is the most crucial step for your business.
If you select a too competitive niche then you would hit your head on the wall. We start a business, work on them for a long time, not just months, for years.
We put our hart cash on them. A wrong niche can eat your precious time, effort and money.
So, before diving into any niche, first, do market research on it.
After finding out your niche YOU MUST ANALYZE it to know if it’s profitable or not, and would you sustain your business in this niche or not.
SO read my step by step guide to how you can analyze your niche which will help you in this process.
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