A quick recap on the new objective: business idea.
As a reminder, here are your objectives for 2022:
– Pass all of my six CFA exams on the first try while maintaining a solid work ethic and active social life. [DONE]
– Launch an automated income source generating at least $3,500 per month. [DONE]
– Start a business and invest at least $5,000 into it by 2022. [CURRENTLY IN PROCESS]
Your new objective is to find your dream business idea and invest at least $5,000 into it by 2022.
With the transition from “start an online store” to “find my dream business idea”, we’re going to go over some of the most effective ways you can discover what type of company interests you enough for such a financial investment.
This step may be harder than actually starting the business, but I’m confident that finding your ideal company is possible with these 10 proven methods: Paul Haarman
1) Quora –
The best people to answer any question are those who have dedicated their lives to studying the topic.
You can find some of these people on Quora, a site where users ask questions and other users answer them.
And somehow they manage to make money even though they’re doing nothing but answering questions…?
2) Reddit – r/Entrepreneur or r/SmallBusiness –
If you think Quora is bad for making money, then you’ll be shocked that Reddit has managed to do the same thing with this forum-style website. I’m not sure how Reddit makes any money because there are no ads whatsoever, but I guess if all else fails they can just start charging $1 per post like Quora.
Both subreddits are perfect for finding specific types of business ideas. For example, you could look up any specific industry to learn more about it and see if it’s worth pursuing (ex: “dog walking” or “marketing”).
3) Google Trends –
If you want to find out what people are most interested in right now, then Google Trends is the answer. This tool lets you search any recent trends to see what people are looking for at this very moment.
To use Google Trends effectively, just enter a topic that interests you and then click on one of the tabs at the top (website, app, etc.). This will show you how many times that term has been searched for over the past few years.
4) Google Alerts –
If people aren’t searching for it, you should still be able to find out what interests them by using Google Alerts.
Google will send you an email anytime someone mentions a certain topic online, so this is a great way to see the latest news related to that term and potential opportunities (i.e., how hot “dog walking” really is).
5) Facebook –
Pages You Should Like – Within each person’s profile there’s a section called “Pages You Should Like”. This is where they list their favorite websites and companies, which makes it easier for you to discover which businesses interest them most. Since they’re logged into Facebook when they’re viewing this, you can see which websites are sending them the most traffic.
If they’re interested in a topic that interests you, then chances are good that it’s worth looking into further. Just keep in mind that not everyone will be reliable or unbiased when listing their favorite companies…
6) Startup Groups –
This one is easy since there are tons of startup groups on Facebook to join. These allow you to communicate with other people who are also interested in starting their own business… perfect for brainstorming ideas!
7) Startup Lists –
Crunchbase provides lists of startups filed under different categories (ex: Top Venture Capital-Backed Companies by Location). These lists show how much funding has been raised by each company, which is a good way to find profitable businesses that have a lot of funding.
8) Trade Shows –
Another way to get your foot in the door at a successful business is by going to trade shows or conferences for their industry. These events are usually free and include activities such as seminars, workshops, and networking opportunities.
9) AngelList –
AngelList has lists of popular startups you can filter by category (ex: Top Cloud Startups). These provide great insight into businesses similar to what you’d like to do yourself, so check out these top companies before making any decisions about your future company!
10) Ask Your Friends –
If all else fails, go ask people you know what they think. These people should be able to give you a pretty unbiased opinion of what interests them and isn’t already saturated.
Conclusion by Paul Haarman:
These 10 tools make it easy to find ideas for internet businesses, but keep in mind that everything you see on the web is biased. For every good idea there are plenty of bad ones waiting to fail and ruin your dreams. Be sure not to quit your day job until you’re 100% certain that what you’re doing will be successful and profitable.
Thank You and Good Luck!
If this guide helped you out at all, please click the ‘like’ button below so I know! This lets me know people actually read my stuff instead of just looking at pretty pictures all day 🙂 Also leave a comment or question so I can find out what else you want to learn about.ssst… Want more free