Wednesday, March 6, 2019

business ideas

business ideas


How To Find A Million Dollar Business Idea - Forbes

Posted: 15 Feb 2019 12:00 AM PST

ShutterstockChokniti Khongchum/Shutterstock.com

Where do you find a million dollar business idea?

Today it seems like the only startups most want to begin or fund are the billion dollar unicorn type. So, where do million dollar business ideas come from? A few entrepreneurs seem to come up with two or more of them. Most never make it.

If you're ready to go big, then here's where the unicorns are born and bred.

1) Take a Bath or Go for a Walk

Seriously. Sometimes we try so hard to think and think things through. Yet, looking at genius ideas through the years, many seem to have come when the innovator was distracting their mind with something else. Think Einstein's bathtub. Walking, exercising and listening to music are all ways to distract part of your brain to let other ideas through.

2) Go to Inspirational Places

Go visit places that inspire you. It could be walking out your door to sit on the beach. Heading off to your favorite vacation spot. Hitting New York City to see all the amazing art and architecture. Or traveling abroad to gain a completely new perspective.

For example flying over the Palm in Dubai or even a ride on Virgin Galactic. You may even just find another country who is doing something far more advanced and efficient in your industry that you can bring home with you.

3) Find Big Problems to Solve

Successful startups are those which solve really big problems. Water, food and housing are the most obvious constants. Everyone on the planet needs them. Then there is healthcare, transport, logistics and financial technology.

4) Find Businesses with Big Addressable Markets

Many of the biggest startup success stories haven't been necessities at all. We didn't need Google, Facebook or Alibaba. We survived just fine before they were created. Yet, they now seem indispensable. Their market was massive. Virtually everyone on the planet is, will be, or has been a customer of these types of businesses. If there are nine billion people on earth when you hit peak, you only need just over 10% of them to give you $1 a year to make $1 billion annually.

5) Find a Business Model that Works

Some of the geniuses that I've had the pleasure of meeting with have gotten their idea simply by looking to other proven business models and putting a new spin on it. Find billion dollar companies of the past and see how they have done it. See how you can use that model for your product or brand.

6) Find an Industry that is Outdated

Find an industry which is out still in the stone ages and disrupt it by bringing it into the future. Uber is an excellent example of this. Taxis were entrenched and had many advantages, including regulation. Yet, they were serving people like Uber and Lyft.

Recognize the common points of frustration out there among consumers and find a way to give them what they want and a solution that matches their lifestyles.

7) Find Other Entrepreneurs with Great Ideas

While some investors still believe that the idea itself can be at least half the success of the venture, it's the execution that makes all the difference.

Consider the millions of failed business startups in just the last couple of years. Assume each of those entrepreneurs had many more ideas before they launched that one.

Perhaps what is even more important than the base idea is how to execute it and scale it into a million dollar business.

Learning from other entrepreneurs is without a doubt the best way to go. I have the pleasure of interviewing some of the most successful entrepreneurs on the DealMakers Podcast. At the beginning of each episode, I always ask guests how they came up with their million dollar idea which in most instances turned out to be a billion dollar idea.

8) Find a Way to Serve a Big Multi-Billion Dollar Company

Perhaps a good hack for creating a unicorn is to simply tap into an existing multi-billion dollar machine with a billion customers. If you tour some of the most magnificent mansions today, many of their ultra wealthy owners got there by simply providing a small part to a really big engine.

For example, inventing a car part for Ford and gaining lifetime royalties. Or providing oil refining services for those with all the resources, but none of the technology to unlock its real value. Or even providing big metropolitan areas with trash services.

Today this could be creating a product or service Google can add on for its customers. Or IBM, or governments.

9) Turn Your Passion Into Millions

Many of the best startups are those that began simply trying to solve or improve a personal challenge or pet peeve, or have flourished out of hobbies. What are you good at? What are you most passionate about? What will people pay you for? How do you scale that to millions of dollars? How many units do you need to sell? How many enterprise customers do you need?

10) Journaling

One of the most common habits shared by history's greatest leaders, artists, inventors and business minds is journaling. Perhaps it is the clarity of getting ideas out on paper. Maybe it is looking at their own patterns over time. Maybe it is the habit that lets other ideas out. However it works, it's worth trying.

Summary

Need a million dollar business idea. Start by thinking big enough. Startups don't just evolve into unicorns. They are born and bred to be unicorns. These are ten ways to find ten figure ideas.

Though make sure you are addressing the most critical factor. Are you willing to do what it takes to build it into a million or billion dollar company? Will you get out of your own way, hire, seek top level advice, invest in learning and raise the money?

4 small and profitable business ideas in India: to start with minimal investment - YourStory.com

Posted: 04 Mar 2019 06:28 AM PST

The chase for arranging funds has been the most despicable aspect of any business entrepreneur's existence from times of yore. Many aspirants abandon their dream to assemble, make, and improve and easily succumb to the poor situation without understanding that a good business thought will eventually pool in the abundance once it has secured a strong place in the global market.

Your business idea will present to you your organization, your organization will bring the general people to you, and the general people will present to you a prominent name in the market as renowned business consultants among so many faces. Furthermore, as we all know, a smart thought has no fiscal esteem, only a ton of blasting potential. Today, the world's best business person like Bill Gates, Mark Zuckerberg, and Elon Musk may hold the possibility of building pyramids out of notes; however, none of them began at the highest point of the ladder obviously. Facebook was made out of a Harvard dormitory at the least little expense and Microsoft was formed two years after Gates decided to discontinue school.

The reason to stress on these striking innovative stories is just because that they give a vital lesson to every one of those like to embark on a similar journey– that a single innovative idea is the most essential step to make an innovative business. Sometimes it happens, if you really plan it out on a brilliant strategy, this idea can emerge in some renowned company, built within minimal investment while getting you the most elevated returns.

Here some of those ideas are penned down:

1. Travel agency :

The travel industry in India has seen a blast in the previous decade. Keeping to individuals' changing habits and their longing for a definitive 'wanderlust', the time is ready for hopeful business entrepreneurs to put their hard earning where the map goes. The most cost-effective measure to open up a locally established travel agency is by tying up with a host organization. Thus, you will get the advantages of pace (helping you get your ARC, CLIA, or IATA number quicker), comfort (they play out all the 'back-end jobs'), and help you to earn higher commissions and minimize your expenses. While the rates contrast as per the host offices, your principle costs that will fall in less than Rs 10,000.

2. Breakfast joint :

You must have noticed how those little breakfast and tea stores over your city are almost loaded up with customers. This is just because that food as a ware will always do well in the recent cut-throat market. To open up your own breakfast joint, you have to invest money in leasing space for it, after getting a legal license for it from the individual authorities. If the rent amount is less than Rs 5000 per month, you can commit whatever remains of your financial plan on purchasing basic needs and other raw materials like second-hand tables and seats.

3. Online confectionary :

While names like 'Ovenfresh' have taken long periods of diligent work, enlistment, and fund to achieve where they are today, it just demonstrates that the market is ready for online food service particularly in the domain of baked items.

·  Blogging

This is possibly one of the most creative fields to tap into in recent digitalized age. Proficient blogging requires just a minimum start-up expense. You just need to put resources on purchasing a domain name and hosting space – at the initial stage – which in its 'boundless' limit costs less than Rs 4000. To promote your web journals and blogs through the correct channels, the cost-free and unlimited expanse of the Web World is all you need.

Each of these business ideas certainly has its fair share of risk factors! It will be advisory to consultant some business consultants to be aware of the potential challenges in your niche. It completely depends on you and how you will take the less traveled path and make the difference.

13 Small Business Ideas | Saving and Budgeting - U.S News & World Report Money

Posted: 15 Feb 2019 12:00 AM PST

[unable to retrieve full-text content]13 Small Business Ideas | Saving and Budgeting  U.S News & World Report Money

Learn how to make your dream career a reality and figure out which business concept is best for your talents, experience, interests and professional goals.

Small business ideas for Mumbai: Opportunity with minimal investment - YourStory.com

Posted: 21 Feb 2019 12:00 AM PST

Mumbai, considered as the second fastest growing market in Asia is always special to the people to want to explore their small business venture. It has become the heart of the city as it is the most populous among all metro cities. Not only is the largest city by population but it also the financial and commercial capital of India as well. You can get many ideas for starting up a new venture in the city, here some ideas are opened up to select from.

Image Source : https://moneyexcel.com

The huge population and so much financial activities mean more business opportunities. All you need to have a good list of business ideas and sort out the better idea to suit your skills and opportunity. Here, we are going to list up some best small business ideas that you can start with minimal investment in Mumbai:

1. Recruitment Firm:

There is always a bright opportunity in this big city with so many aspiring people looking for the job or heading to change job. Starting a small business would need very little investment but a good amount of effort.

2. Real Estate Consultant:

With a growing population, the demand on real estate properties in on the severe rise in Mumbai too. Starting a real estate consulting business could be a good option. Charging a low commission on this property value that is finalized with the clients can ever earn a good income.

3. Grocery Delivery Service:

This is one of the most innovative small business ventures to start in a small but posh location in Mumbai like to deliver the grocery items to the doorstep of the consumer with some additional charge. This could be a great idea to start alone, but if you already own a grocery shop, this can double your sale in both the ways.

4. Old book bank:

Opening used book bank is a good idea as most of the student love to save their money on books so they check for used books as well.

5. Blogging:

Starting your own blog page on anything that interests you most is not just a subject of a hobby but a lucrative business opportunity too. This small business idea would cost you low investment or you can also create a website or blog for free. However, you need to spend time every day of so many hours in a week to become successful blogger.

 6. Event Management:

Event management is one of the most popular and growing business in recent days especially in cities like Chennai, Mumbai, Kolkata where the sped up life has made it quite essential to hire a dedicated team for organizing and managing a gorgeous event like birthdays, wedding, corporate events and other as well. If you have good networking and you can easily move things like you can organize a successful event, then you could definitely be a successful event organizer in this small venture.

7. Online Trading :

Have you ever tried your skill to operate the online business? If not yet, you must explore the idea of selling online using already existing e-commerce platforms like OLX and others.

8. Become a Trainer:

This one idea is one of the excellent small business ideas for all those who are expert in any kind of skill. If you can cook well, start a cooking class, if you are good at painting, start a painting class, you can be dancer/photographer/Fitness expert/life coach or just anything, market your skill and ear good.

Opportunities do not end here; these are just some ideas that could help you to fin in your thoughts to start something new. To know about more feasible business opportunities you may get in touch with some reliable Business consultants in Mumbai.

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