7 Ways To Find Business Ideas You Can Turn Into Income

7 ways to finding business ideas

Are you stuck on acting on your business ideas?  Do you find yourself thinking about an idea that may create an income stream only to dismiss it?  Then a few months down the line, you notice someone has started a business similar to your ideas

 

I don’t know about you…I have been in all the above situations. I use to kick myself in the butt for dallying on my business ideas .  

I had this unending cycle of delay and failure to act on my ideas until 10 years ago.  I became tired of feeling frustrated about not acting on my ideas that I started taking action on my ideas.

 

It took trials and errors… reading and asking mentors before I gained the self-confidence to learn how to find ideas. Then act on turning them into income

 

The problem most people have is not the lack of ideas. The challenge most people face is motivated to turn their ideas into an income stream.

Here are seven ways you can find business ideas and motivation to generate income streams.

 

#1. Attend seminars and business event

 

That will give you more ideas and resource to take action.  You can get many great  business ideas from business seminars about starting your business. If you are short of funds and can’t afford expensive seminars, why not look for the free business seminars in your area. You can find free seminars to attend when you browse the classified ad section of your local newspaper. Late night ads on cable TV and the Internet are also great places to find free seminars.  When you attend these seminars, remember you’ll get offers to buy products. That’s ok.  However, don’t get carried away.  Remember the reason you are attending the seminar is to get useful ideas for your business

 

#2. Listen to audio programs

 

Do you know that if you that most people spend an average of 542 hours per year commuting?  

Do you know that if you did 542 hours of study on a subject you’d earn a bachelor’s degree?  

One of the easiest ways to get ideas that you can turn into income is to invest in self-improvement audio programs.  

The benefit of listening to self-improvement audio programs instead of mindless radio talk show in your cars is that you’ll improve yourself faster.

Local libraries have audio libraries that you can lend if you cannot afford to buy audio programs

 

#3. Read current magazines in your industry

 

Another way to get idea boosters for starting a business is reading magazines to find the current trends in your industry. In addition to magazines in your industry, you should also spend time reading business and entrepreneurial magazines.

Magazines like

  •    Inc.
  •    Entrepreneur
  •    Fortune
  •    Money
  •    BusinessWeek
  •    Bloomberg

Are all magazines you can subscribe to or read at the reference section of your local library?

 

#4. Read inspirational and business books

 

Business books provide a rich source of ideas for starting a business. There are books written about virtually all types of businesses that you can study to improve your business skills.

Motivational speaker and business philosopher Jim Rohm says, “You can judge a man’s bank account by size of his library.

 

When it comes to reading books, you should look for books that are classics. That is they contain timeless success principles that you can find ideas for starting business and success.

In addition, you can browse amazon.com or Barnes and Noble for popular and bestselling books on the business

 

You must have a library of classic books to give you the brain action and motivation.

Some of the books I recommend include

Think and grow rich by Napoleon hill

The science of getting rich by Wallace D Wattles

How to win friends and influence people – Dale Carnegie

The magic of thinking big by Gene Schwartz

The Wealthy Barber

The Richest Man in Babylon

Rich Dad Poor Dad

 

I reread these books at least once a year to get motivation and ideas for success

 

#5. Spend less time watching TV or Get Rid of your TV

 

Earl Nightingale bestselling author of the strangest secret said that the TV is like a modern day Roman Coliseum right in our living room. There is no doubt that Television has brought development and improvement to our lives. The drawback of watching too much cable TV is that it dulls your creativity because it’s a passive activity

 

Majority of television shows are trashy. Even watching the news could dampen your spirit and kill your enthusiasm for doing anything with so much negative news about the economy.

Instead of watching TV, I would suggest either cut down the number of hours you spend watching TV. Alternatively, get rid of your TV entirely

 

Successful individuals recognise that the mind is the most powerful tool for success. Therefore successful avoid any material that will not enhance the quality of their life. They recognise the truth in the axiom “garbage in garbage out”.

When you allow your mind to accept trashy material you will end up behaving like what you feed on

 

#6. Spend time daily reading and meditating

 

In his book, 7 Habits of Highly Successful people Stephen Covey   identified rest and meditation as one of the habits of successful individuals. Covey says you need time to “sharpen your sword” in order words you need time to rest and refresh

 Harvard business Review published article on the effects of mediation on productivity. The article cited a study  that  showed that  spending at least 30 minutes reading and meditating can double your productivity.

 

Meditating, prayers and reading inspirational books helps to refresh your mind. When you are refreshed, you are more likely to think creatively

 

 

#7. Embrace failure

 

One of the greatest reasons people fail to start the business is fear of failure. However, the real secret to succeeding in business has the ability to embrace failure. This means that you must view failing as part of the process of accomplishing your goals

Unfortunately, our educational system teaches children at a young age that failing is bad. This is far the truth.

 

Successful entrepreneurs have a common success trait: The ability to fail ,learn from their mistakes and never give until they accomplish their goals

  • Thomas Edison tried 10,000 times before he finally invented the electric bulb. Edison never allowed failure to get in his ways.
  • KFC founder Colonel Sanders had 1009 rejection letter before founding the legendary KFC chain of restaurants

 

The secret to using failure to succeed in business or any other venture in life is not taking the events personally. So next time you have an idea and you start thinking about a failure…know that failing is part of the process of accomplishing your goals

 

Here are some inspirational quotes about failure that you can find comfort anytime you fail

“There is no such thing as failure. There are only results”- Anthony Robbins

“The greatest glory in living lies in never falling, but in rising every time we fall.” Ralph Waldo Emerson

“Whenever there is the possibility of failure, there is the possibility of success”

“Failure is the fertiliser for success”

 

  Help others to solve their problems

 

Another way to find great business ideas you can turn to income is  to find solution to problems for other.

 

By helping others solve their problems, you unleash your creativity in the process. Zig Ziglar said, “You can have everything in life you want if you will just help other people get what they want.”

 

There a many great businesses that started simply because their founder wanted to provide the solution to pressing problems

 

Here are a few examples

 

  •    The Marriott hotel business started in 1927 because a 27-year old John Willard Marriott wanted to provide travellers and tourist root beer during Washington DC muggy summers. Marriot and his wife Alice then started serving hot food and then branched into lodgings. The rest is history
  •    Ronnie and Ken Di Lullo started a $3 million business idea because they noticed their dog squinting in the sunlight. In their quest to solve their dog’s eye problem they  invented “Doggles” a sunglass for dogs who are sensitive to sunlight

 

The next time you are stuck on finding ideas or you lose motivation… why not try one the these tips I have listed and you’ll come unstuck

 


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