Business ideas and plans, Uncategorized

How to get most profitable business ideas from the problems you face.

In the post million dollar mindset  I explained what it really takes to be considered an entrepreneur or a business person focusing mainly on the mindset and the attitude we all should have and I would recommend you should take a look at it because without that mindset in you there is no entrepreneur ,there is no C.E.O ,there is no businessperson or whatever you consider yourself to be.

And with that kind of attitude you will be assured of 56% financial success and that is simply because genuine problem solvers will always be in short supply which means that there is always room for someone who decides to be one of them. Yes 56% but why not 100? The answer is simple.. for you to make money somebody must pay for whatever you are offering in one way or the other.. yes its that simple which means your aim is not only to solve the problems but also to monetize those solutions in the most converting methods. And this post is going to help you do just that in the following 6 fundamental ways by teaching you:

[1] how to detect problems

[2]How to tell if a certain problem will give birth to the most profitable business idea/ not

[3] how to find quick entrepreneual/business centred solutions to every problem

[4] how to craft business ideas from the solutions you have thought of

[5]how to design professional business plans which you will use in implementing your plans.

[6] And lastly how to fully monetize  your ideas

Now this post is going to be a little longer than usual but I tell its totally necessary and worth it because after reading this it all you will have to do is put into practice everything that you have learnt and I assure you that you wont go wrong….. I have arranged the content under three categories which are detecting the problem ,crafting the business ideas from the problem detected and lastly professionally designing business plans….EXPLORE!!!!

1.DETECTING THE PROBLEM

J .D .Marier once said ,’If you know the problem you are dealing with it is only then can you solve it most effectively’ and to me that is as good as if you don’t know what problem you are dealing with it can only make you complain/fall..no solution..no progress or anything and that is worst. Now a problem can be the very small or unheralded yet carrying the most profitable business idea making it very hard to detect and you can imagine the potential we are loosing….

So what really is a problem?: A matter or situation regarded as unwelcome/ harmful and needs to be dealt with[the entrepreneual way] and be overcome..Dont forget that overcoming to us is simply solving it and monetizing our solutions.

Below I have used my own case study as an example so that people can understand what is really mean and how exactly to  do ..a very simple process that just requires the correct attitude and an entrepreneur`s attitude:

Most people in my society do not understand what I do for a living so to them these whole internet businesses are pieces of crap. As I was walking one day in the pedestrian tack i met a friend who lives in my neighbourhood and after exchanging a few greetings he asked if I now had a job. In reply i said what i always say, ‘”I have one already and that is bogging and online trading”.

He was obviously disappointed because he went on to discourage me basing his arguments on appealingly real yet unproved theories. I always give everyone a chance when they talk so I gave him a chance to say whatever he was saying but as the minutes went by and I could not make sense with what he was saying i just gave a nod to what he was saying so that he wont waste more of my time but the moment he went away something came to my mind..

I realized that this kind of mentality  was not good for aspiring entrepreneurs/problem solvers in society so something was wrong here ,there was a problem because entrepreneurship if done by the right people.. it has the ability to transform the poorest nation into an economic powerhouse..[Yes I said  right people because this is not for everybody.. its only for that top 20% those highly disciplined enough to do what they are supposed to do when they are supposed to do it whether they feel like it or not but the good news is everyone has a chance to be part of that group].

Now fellow the moment you feel that something is wrong or something should be corrected or when you just see that things are not the way they should be I want you to take out your pocket book and go for the next step as I outlined below…

2.UNDERSTANDING THE PROBLEM AND CRAFTING A BUSINESS IDEA

The content under this category is devided  into three categories toenhance clearer understanding and each category is well demonstrated. For best results you simply have to learn and act on the derived lessons..

 [a]POP- UP QUESTIONS

 1] Why cant society just understand that we are different ?2]How can i convince them to understand that entrepreneurship can be the solution to our problems?

3]How many entrepreneurs have been discouraged by this kind of mentality and what is it can i do differently?

[b] POP-UP SOLUTIONS

answer to question:

1 &2.]This is because their imagination is limited, they do not read enough and also they are not exposed to what is going on in the world and that is why they live monotonous lives and it would be cruel to leave it like that so to change that there would be need to conduct seminars[both online and offline] teaching them why their financial freedom is important and how they can do it .

3] According to Pareto only 20% of people who embark into entrepreneurship make it to the top which means that a lot of them are discouraged by one thing or another and society/environment is one of the greatest problems.

[c] CRAFTING A BUSINESS IDEA FROM THE SOLUTIONS YOU SUGGESTED

Therefore there is need not only to create awareness campaigns to people on why their financial freedom is important to them and how entrepreneurship can help them achieve it  but also to build a something like a hall specifically designed for entrepreneurs where they will: 1]Connect with other entrepreneurs/like-minded people ,2]have an opportunity can have quiet time alone ,3]have access to a library with books specifically for them, e.t.c

3.THE BUSINESS PLAN

A business plan is a formal statement that explains the goals of the business, specifies  the exact methodology to be used , shows the estimated profits , the time frame , the attainability of the results and the ideal team to do the job.

FUGNDING

The issue of funding is fundamental to entrepreneurship because  the method one  uses in implementing ideas is widely influenced by their capital so i have listed below a few from which you can opt for:

1] If you are eligible and very comfortable with your idea you can opt for a loan but i don’t usually recommend startup entrepreneurs to go for this because of the obvious reasons

2] LOOK FOR AN INDUSTRIAL INVESTOR.. This one takes time and planning but the results are usually good.

3] The third one is the one i mostly recommend to all kinds of entrepreneurs and a creative mind. Since less capital is induced there are negligible losses[that is if it doesn’t work out as planned ] as well as enormous returns and because of these financial benefits i am going to use this one to briefly give an insight into the ideal starting point below.

AIMS/GOALS:

1.] To create awareness to society on why entrepreneurship is important to them

2]To create an environment that can help them be part of the top 20%[i.e THE ENTREPRENEURS HALL]

REQUIREMENTS

Here you simply have to list all you will need for you to achieve your goals and in this case our goals are the entrepreneurs hall  and creating awareness

1.] Create a plan drawing

2.]Find an ideal place where you can get as much entrepreneurs as possible

3.]List the necessary people you would like to help you implement your plan

4]Make a list of all the necessary tools you would like to have.. don`t leave a single one here

5.]Create an estimated budget

6]e.t.c

THE STARTING POINT

After specifying where you would want to end up you now need to have a starting point which is determined by issues like the capital you already have , local registration issues&/ regulations ,the mindset of the local entrepreneurs ,e.t.c

For example in your journey towards ‘THE GREAT ENTREPRENEURS HALL’ you can start with a simple  business library, a little food outlet so they can stay a little longer and internet connection where people can connect to the internet using their own computers and  a small subscription fee. And for the campaigns you can start on social media.

Then later you can introduce a few computers , a good air conditioning  ,e.t.c. You only need to have a unique way of treating customers/different management because at the end of the day that is what really matters.

ONE BONUS TIP

The biggest advantage of using this approach to finding business ideas is that you will know that you are doing something that is going to convert well financially because you will be very sure of who your target customers are which will help you understand them better and that will in turn help you connect with them effectivel

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