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Books about finding business idea

Idea threads

mosaster

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Hello fellow Fastlaners :)
I'm looking for a viable business idea and that's one of the things I fail at. I cannot find an idea that would satisfy all CENTS/CENTS commandments.
Naturally, I'd like to find it and have a better understanding of a market research, because, at any point in time, I might be looking for a better perspective.
Of course, I read MJs books, this forum and MJs advice in 'The absolute BEST book you MUST read!'. Particularly that thread made me seek an answer to my problem.
What I'm looking for is an advanced read/course to baby-step myself towards right business idea - how to choose a market, research it, find a business need, evaluate and come up with a viable concept satisfying CENTS/CENTS commandments. Which books/additional sources would you recommend in this regard?
 
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Andy Black

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Hello fellow Fastlaners :)
I'm looking for a viable business idea and that's one of the things I fail at. I cannot find an idea that would satisfy all CENTS/CENTS commandments.
Naturally, I'd like to find it and have a better understanding of a market research, because, at any point in time, I might be looking for a better perspective.
Of course, I read MJs books, this forum and MJs advice in 'The absolute BEST book you MUST read!'. Particularly that thread made me seek an answer to my problem.
What I'm looking for is an advanced read/course to baby-step myself towards right business idea - how to choose a market, research it, find a business need, evaluate and come up with a viable concept satisfying CENTS/CENTS commandments. Which books/additional sources would you recommend in this regard?
Just wondering if the answer is even in a book?

My advice would be to go out and start helping people. Now.

HTH
 
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Laughingman21

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There’s a section in one of MJ’s books about finding a business idea (I think it’s TMF ). It focuses on identifying problems so you can deliver a solution. It doesn’t have to be completely original, just something you can do better than what’s already available in the market.
 
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Andy Black

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There’s a section in one of MJ’s books about finding a business idea (I think it’s TMF ). It focuses on identifying problems so you can deliver a solution. It doesn’t have to be completely original, just something you can do better than what’s already available in the market.
It often doesn't have to be better than what's already in the market. Sometimes just being there when they want it is enough.
 

PedroG

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"Blue Ocean Strategy" by W. Chan Kim. This book just made my top 3.

It teaches you how to go through the process of coming up with something unique, and creating new demand rather than compete for existing market customers.
 
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momomaurice

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It took me 2 years to come up with a business idea. I know where you're at right now. What is your job now? What are the things you enjoy? Is there something you payed for and you thought it could be done better or improved?
 

FastLaner007

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"The Star Principle and how it can make you Rich" by Richard Koch. I love it as much as MJ's books. :smile:
 
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Late Bloomer

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MJ's books, Blue Ocean Strategy, and Lean Startup. They go together beautifully.
 

FastLaner007

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That's a new one to me. I can Google it of course, but what are the key highlights for you about this book?

This book is a must read for every aspiring entrepreneur if you ask me. ItsI very much on par with MJ's books. There are many deep topics covered but he focuses on becoming market leaders in high growth markets and becoming rich. He specifically uses the growth-share matrix by Boston Consulting Group. It covers everything from stellar idea generation to marketing to innovating your products or services. A solid 10/10 book coming from a self made Centi-millionaire and a Wharton MBA.
 
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DVU

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how to choose a market, research it, find a business need, evaluate and come up with a viable concept

Remove "how to" and there's your answer.

There is no step-by-step guide
 

mosaster

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To be honest I expected of myself to come up with a million dollar idea next day after I read MJs book. Now learning that it sometimes takes years to get a concept, I feel less anxious about generating it fast.
I work at IT customer support. It provides me enough money at low time investment so I can focus on doing new things.

Thanks for the tips, I will definitely need to reconsider my approach.

It took me 2 years to come up with a business idea. I know where you're at right now. What is your job now? What are the things you enjoy? Is there something you payed for and you thought it could be done better or improved?

Sent from my T1-701u using Tapatalk
 
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mosaster

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Considering only new models, I have probably missed the point that I can improve something. Thank for the advice!
Find a business model that is ALREADY working (that you think you'd like working in) and find a way to improve it...that's gonna be way easier than trying to do something from scratch

Sent from my T1-701u using Tapatalk
 

Ayanle Farah

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Ask yourself good questions, that's how I uncovered a global problem that few people are competing in and can potentially be scaled to billions of people.

When asking those questions, they should be about improvement, problem solving, helping people, making people's lives easier.

Take an hour or so, put away your phone, go somewhere where you can just think and reflect.

Good luck.
 

Late Bloomer

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Remove "how to" and there's your answer.

There is no step-by-step guide

There are actually several step by step guides. I linked to some of them and I can provide links to many more.
 
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