7 Sources of Online Business Ideas
You want your idea to be awesome, to magnetize others, and to be successful. These 7 Sources of Online Business Ideas could be that little spark of inspiration that takes you from scratching your head, to launching a simple online business without the frustration of not knowing where to start.
1) The Internet
The first of the 7 sources of online business ideas lie within the internet. This vast network of computers alone will blow your mind, and can very easily be the source of a brilliant idea that’s just a search away.
Statista reports that in 2018, there are 23.14 billion devices connected to the internet. In the next 7 years, that figure is anticipated to triple!
What does this mean for using the internet as a source of online business ideas? If you search it, and there are results, others are probably doing the same.
In Get Your Brand On we dive into how to see how many searches are performed each month for your business idea so that you know you’re on the right track!
To get started, go search on Google to see if anything shows up for your idea (you’ll probably get a ton of results to go through! Bingo!)
2) Pains, Problems & Questions People Have
When it comes to a source for profitable online business ideas, identifying the pains, problems & questions people have is an easy way to position yourself.
Not many people like to be in pain, have problems, or want to live a life with looming questions.
That’s why over 6.5 Billion searches are done each day across all search engines. People are searching for pain relievers… solutions to problems… answers to questions.
And guess what?
People will do anything possible (including pony-up an investment) to avoid pain, problems and to get their questions answered. That’s great news for the entrepreneur who positions themselves in the marketplace to be their audience’s guide!
Start to think about the pains, problems, and questions YOU have had in your life. Write them out! What did you pay to solve them?
3) Make a Product or Service YOU Use… Better
Some of the best products and services ever were not perfected by the original creator.
Think about it… Did Thomas Edison create the most efficient lightbulb? Probably not considering there’s now a whole industry on bulbs that use hardly any energy (the scientists are STILL in the lab working on it!)
Nearly anything you can think of has had others who have used the products, found deficiencies, and vowed that they would make a better product or service (and they do, daily).
So, what products or services have you used that you’ve said, “This would be perfect if this was…”?
Write a list of those products and services down. Start to brainstorm which ones you truly love, and what you would do differently to them.
THAT just maybe your brilliant business idea!
4) Fulfilling an Obvious Need or Want
Life is full of wants & needs. There are three basic needs:
- Water (clean & pure)
- Shelter (safe, comfortable, and secure)
- Clothing (Keep warm, cool, or even fashionable)
With these three things, we can survive. Can you fulfill one of those with a business idea?
Only after these three basic needs are met, do people start to spend money on their wants (and when this happens, nothing stops them from swiping their credit card!)
Many businesses focus on fulfilling wants because there are a LOT more of them.
Write out a list of your needs & wants. Which ones of them ring a bell, getting you excited in a way that you could create a long-term business around it? (because businesses are generally built to create long-term prosperity)
5) Franchising or Distributorship
You’ve probably seen chain stores, restaurants, or even companies allowing people to “buy-in” to be “licensed” to sell their products or services, right?
What comes to mind?
Some of these sources for online business ideas may be out of your league if the buy-in is more than you have in your bank account or could get a loan for.
While others may be within just a few hundred bucks to start.
Get some ideas of opportunities from your friends, acquaintances or even people you meet online. Not all of them will be a fit, but the one(s) that are will “feel right” and it will be something you can stand behind.
6) Invent Something New
The other day we were at an outdoor adventure gear store and a salesman approached us with a product he created but didn’t know how to grow & scale it online. He had invented & got a patent for a cool product that would be useful to people who owned motorcycle gear.
He had no idea how to break into the online world to sell that product.
By following the BEAP Road Map, he could easily build his business online and get his questions answered in the community.
This just goes to show that if you have an idea for a product & invented something that isn’t in the marketplace, you could follow your passion to make it a reality!
Maybe you’re the investor type? If so, write down your idea! What do you need to do to have that manufactured? Contact companies that have had similar items made and see who they use to create it?
You don’t have to be the one that builds your product, you just need to find out who already has the ability to reproduce it on a mass scale.
7) Your Hobbies, Interests, Knowledge, Passions, Skills
The last of the 7 Sources of Online Business Ideas lies within you.
- Your Hobbies.
- Your Interests.
- Your Knowledge.
- Your Passions.
- Your Skills.
Some of the easiest businesses to launch are ones that you have intimate knowledge of already. It could be something you’ve had interest in for YEARS and are just now ready to make it into a business online.
If so, congrats & welcome to the Exclusive Tribe of Entrepreneurs!
You already know soo much about something and by putting together a simple business online could allow others to Google it & find you!
Knowledge is something that people strive for. When you package it, that’s called Knowledge Commerce.
This is where people will pay you to know how to do something faster.
They’ll pay you to bridge the gap and get their questions answered, solve their problem, or provide a reliever to their pain.
There are many ways to get this type of business going.
You can either Google it & try to figure it out for yourself… OR you can model what’s already been done by following the BEAP Road Map.
Whatever you’re wanting to create in the online space, it comes down to being part of a community of others who can support you through the questions (because there will be questions) and give you encouragement when the going gets tough (because there are times that it will get tough)… And even to celebrate your victories as you grow & scale!
If you’re wanting to start a business online, and are looking for ideas, start by writing a list out. Get Your Goals On and figure out what you need to set in order to make that dream a reality. In the BEAP Exclusive Tribe, we have a simple to follow Road Map that walks you through 3 Stages of figuring out your idea, launching your business all the way to growing & scaling it.
Ready to LAUNCH your idea? Start Today!
See you in the Tribe!
Brian Garcia + Erin Nicole Bick has been traveling full-time since April of 2017. They like to consider themselves location independent. Their goal is to empower others to live life on their terms and create their own definition of independence/freedom. Through their content, eCourses, and consulting they share their simple method for building an online business, and living a happier life.
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