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Books about finding business idea

Discussion in 'Education, Learning, Books' started by mosaster, Nov 2, 2017.

  1. mosaster
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    mosaster New Contributor

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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?
     
    Last edited by a moderator: Jun 7, 2018
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  2. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Just wondering if the answer is even in a book?

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

    HTH
     
    Last edited by a moderator: Jun 7, 2018
  3. EasternCrane
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    EasternCrane Sit in the gap not the choice Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    agreed.

    See this thread that I posted about the ways to find a successful business. These are usually the routes people take.

    Progress Thread - SaaSify
     
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  4. Laughingman21
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    Laughingman21 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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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.
     
  5. Andy Black
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    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    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.
     
  6. Vanderbilt
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    Vanderbilt Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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  7. PedroG
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    PedroG Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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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.
     
  8. momomaurice
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    momomaurice Bronze Contributor Speedway Pass

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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?
     
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  9. HugoMoreno
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    HugoMoreno Silver Contributor Read Millionaire Fastlane Speedway Pass

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    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
     
  10. FastLaner007
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    FastLaner007 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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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:
     
    Last edited: May 18, 2018
  11. Late Bloomer
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    Late Bloomer Gold Contributor Read Millionaire Fastlane Speedway Pass

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    MJ's books, Blue Ocean Strategy, and Lean Startup. They go together beautifully.
     
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  12. Late Bloomer
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    Late Bloomer Gold Contributor Read Millionaire Fastlane Speedway Pass

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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?
     
  13. FastLaner007
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    FastLaner007 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    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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  14. Late Bloomer
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    Late Bloomer Gold Contributor Read Millionaire Fastlane Speedway Pass

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    Thanks for the detailed rave review! I'll add this one to my must-read list!
     
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  15. DVU
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    DVU In Progress Read Millionaire Fastlane Speedway Pass

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

    There is no step-by-step guide
     
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  16. mosaster
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    mosaster New Contributor

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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.

    Sent from my T1-701u using Tapatalk
     
    Last edited: May 31, 2018
  17. mosaster
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    mosaster New Contributor

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    Considering only new models, I have probably missed the point that I can improve something. Thank for the advice!
    Sent from my T1-701u using Tapatalk
     
  18. Ayanle Farah
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    Ayanle Farah Bronze Contributor Speedway Pass

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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.
     
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  19. Late Bloomer
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    Late Bloomer Gold Contributor Read Millionaire Fastlane Speedway Pass

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

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    I'm reading the Blue Ocean Strategy now, as you suggested
    Sent from my T1-701u using Tapatalk
     

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