The noise is loud out there and it seems easier to get on autopilot. Do you find yourself venturing into a business simply because many people are starting off in that so-called “lucrative business idea”? Or did you stop because they say it’s not invogue anymore? This is a Follow-Follow attitude but I get the pressure to be entrepreneurial!! Don’t worry, you are in good company. I was once like you and this blog is all about finding that unique idea. Before I outline 3 major strategy to find a great business idea, here are some points to think about.
A sincere mind-body scan to a genuine idea
But the first thing we must do together now is to acknowledge that you need genuine ideas of yours. Carry out a mind-body scan to see if you are actually doing what you truly want to do. Does what you are doing now somehow take you to where you want to be in the future? Are you growing? Is this it? If you seem to have just “Nooos” as answers, then read my blog on how to find a great or lucrative business idea as a starter. Many times we have found ourselves doing things because the other person has done them, is doing them or even intends to do them. This sometimes may not be bad as it may yield your expected results, it still is not a good look to pull off.
How follow-follow mentality bores into our everyday life
Being a copycat has resulted in so many businesses failing and so many youngsters making life altering decisions that have impacted their own future negatively. As a teenager I saw a lot of this play out, teenagers getting boyfriends because their friends have and end up getting pregnant and dropping out of school, parents pushing their children to do various things because their friends are also doing it or people starting up a confectionery shop because their neighbour was doing it and ending up closing shop because business did not “move” as the saying goes.
Follow-follow has been the reason behind so many abandoned children, so many estranged families and so many failed businesses even when it was genuinely a lucrative business idea. That being said, sometimes being a copycat may not be so bad as it may help one land a lucrative business, however this question begs to be asked: how many people are so lucky?
Explore from within to get transformative & lucrative business ideas
As an entrepreneur or individual planning to start a business, the need to make a plan cannot be overemphasized. It is essential that you know what you are passionate about, what your goals are, where you see your business in the next 3 to 5 years, what brand you are trying to build and so on. Answering these questions might seem challenging. It is challenging. You might say, hey Joana, I do not have an idea, so how can I plan out what I do not have?
Sometimes digging deep into your core self and asking yourself existential questions like why am I here? What is my sincere desire? Who do I want to be? What did I love as a child and so on, can be transformative. As you embark on that thought exploration with yourself, amazing lucrative business ideas begin to emerge. I have an audio training program that allows you to dig deep, transforming the ideas from within into a business that is unique to you.
Find a problem to solve!
This is so important when it comes to actually finding the right business idea. Great business ideas come from a place of value. When you create or intend to create value for a specific group of people, you find a business idea that si lucrative or profitable. How do you create value? by simply looking at the situation nd ask yourself what you can do to solve the problem. What offer can you create? What solution do you have. If it is a situation that a also makes you feel discomfort, it is even better if you come up with a solution that helps you or ease the discomfort. So for example if you find it hard to get really good hair weaves and wig, your solution might be that you venture into retailing high quality at affordable prices. I actually have a blog on starting a wig and weave business which you can read here. so you see, you create value for those like you who find it hard to get good weaves and wigs.
Do your research
Carrying out a good research about a topic that you are passionate about is a key strategy to find a business idea within. Research is not hard to do.Market research is always the first step before you start up with any business ideas. Believe me, if you want to fast track your way to become successful, you need to know what the other competitors or people offering the same or similar product are up to. You can carry out a market research by reading magazines about retailing wigs and weaves, watching adverts related to wigs and weaves, by attending beauty fairs, by studying the competitors, by actually talking to your friends and colleagues who love wigs and weaves.
Look for blog articles in the beauty industry. Know who your key competitors are. Outline your own key findings so that you have a broad view about the market. Your key findings should cover the trends, the competitors listings, the prices wigs and weaves are sold, who the potential customers are and what kind of product they like. So you to do action under this step to come up with your key findings. I have a video coming up on my YouTube channel about how to do the market research as part of the free business training program called the 6 KEY. So not to miss out, make sure to subscribe.
Find new approach and think up new ways!
Being innovative simply means being imaginative, thinking up new ways to do something, bringing up new ideas and concepts. Asking the unasked questions. Success on the other hand refers to the fulfillment that comes when one is able to attain their desired visions and planned goals, it also refers to the attainment of wealth. Thus being innovative towards success means bringing up ideas that can lead to success or simply put; thinking up new ways to attain success. To be innovative towards success as an entrepreneur and individual you need to stop following the bandwagon!
3 take away from this blog
Finding a lucrative business idea is more of an art than we think. It happens when we surrender our fears and stop the autopilot. When we reach out from within our core being and push ourselves to become innovative. Take these 3 points;
- Carry out mind-body scan – acknowledgement.
- ind a problem to solve
- Do a research in the industry you like.
Hey, thank you so much for stopping by and reading through to the end. I really appreciate it, because it takes so much to put this together. Hope you liked it. If you did, remember to share this blog on social media. Yes, more free training and videos on this topic will be out this month on YouTube. Not to miss out, subscribe and turn on the notification on Youtube. It would be nice if you follow me on instagram as I share daily strategies and personal fun stuff. I am on facebook as well but to get it all in one place, subscribe to my free newsletter. Drop your comments, questions, feedback beneath using the comment section and I will be happy to answer your questions in my next video or blog.
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