Come up with a great money making idea!

In order to come up with a great money making idea you must do 5 things:

  1. Think about a common problem that many of your friends and relatives have. try and think if that problem currently has a solution and they are just now aware of the problem or if the solution does not yet exist.
  2. Once you have that problem in mind, try and think of a very simple and friendly solution that can start solving their problem! at this point we are NOT looking for the full solution – rather we are looking for the first step that can point us in the right direction.
  3. Make up a simple experiment – testing your market. This can be done by conducting a test group, running a small website or even a questionnaire to see if people do actually have that problem and if your suggestive solution may be a good, effective one for them.
  4. Brainstorm with someone you trust and respect and that most importantly respects you enough to give you honest answers – this should help you formulate the solution and putting it down on paper.
  5. Imagine the funnel – I like to use a mind map for this stage simply because it can help me bring out the vision into a drawing that will allow me to visually see how my solution solves the initial problem.

Once you have conducted all of these steps it’s time to move onto the next step of the course :)

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