Introducing myself (and seeking for some help...)

[F.glueck]

So after about a month of lurking around and reading various threads, I decided to introduce myself to the Fastlane Forum.

About a month ago, I stumbled across The Millionaire Fastlane and it totally catched me.
Before reading the book, I was totally into living in the Slowlane, but MJ's book opened my eyes.

With that being said, I want to introduce myself:
I am an aspiring enterpreneur, 19 years young and from Germany.
My goal has always been to create my own business (or lead/manage a business), because I always saw myself as a natural leader (I know it probably sounds cocky or something but that's the truth...)
The only problem is, that I have yet to find a good business idea from a CENTS perspektive, which one aspect of me writing this post.

So here are a few questions, which I hope do not cause y'all too much work:
- How do you find business ideas?
- Are there any good books, blogs or videos on finding business ideas?
- Is there a good thread in this forum for finding business ideas?

I would be pleased, if someone could help me a little bit.
Thank you!

(Hopefully, there is not too much mispelling in my post!)

 

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[MJ DeMarco]

Read up on value skew, it is covered more broadly in Unscripted or the TGRRE .

No one should ever be short on ideas, it shows a lack of understanding of entrepreneurship and buying behavior.

 

[DeletedUser84644]

So after about a month of lurking around and reading various threads, I decided to introduce myself to the Fastlane Forum.

About a month ago, I stumbled across The Millionaire Fastlane and it totally catched me.
Before reading the book, I was totally into living in the Slowlane, but MJ's book opened my eyes.

With that being said, I want to introduce myself:
I am an aspiring enterpreneur, 19 years young and from Germany.
My goal has always been to create my own business (or lead/manage a business), because I always saw myself as a natural leader (I know it probably sounds cocky or something but that's the truth...)
The only problem is, that I have yet to find a good business idea from a CENTS perspektive, which one aspect of me writing this post.

So here are a few questions, which I hope do not cause y'all too much work:
- How do you find business ideas?
- Are there any good books, blogs or videos on finding business ideas?
- Is there a good thread in this forum for finding business ideas?

I would be pleased, if someone could help me a little bit.
Thank you!

(Hopefully, there is not too much mispelling in my post!)

I used to have that issue all the time, but now, I have at least 4-5 ideas that I know with confidence has product market fit. See if the following insight helps you out:

"The approach you are using to find an idea is misguided. The reason why you are having immense difficulty with finding one is because you are trying too hard into finding a completely, 100%, original idea. Such an approach is completely counterintuitive and is so for the following reason: If most of the richest people in the world didn't get to their position from executing 100% original ideas but through executing already existing ones better or with a spin put on how they were normally done, then we also do not need to be 100% original either. 100% original ideas rarely succeed and should only be realistically pursued by an experienced entrepreneur, otherwise, you are destined to fail. So, look at what already exists in the market and see how you can do things better, faster, cheaper, with a spin put on how it's normally done, etc. That's the fail-proof sure fire way of finding good "ideas", for already existing ideas have proven market demand (which means that you don't have to worry about product-market fit) and therefore mean that they have a good chance of working out (Which basically means the only way the business venture can fail is through mediocre execution, not failed product market fit). You could never have a single great idea in your life, but if you put your efforts and focus on executing the great ideas of others that already have proven market demand, then you will be able to succeed beyond your wildest dreams. Ideas are a dime and dozen and are useless and insufficient without proper execution, as it's the ultimate successful execution and implementation of ideas that can leave you with holding a pot of gold, not the idea itself, period. You need to look at "ideas" as business opportunities rather than ideas instead."

 

[F.glueck]

No one should ever be short on ideas, it shows a lack of understanding of entrepreneurship and buying behavior.

Probably not what I wanted to hear, but what I definitely needed to hear, thank you!
Started reading Unscripted about two days ago, and I am already trough - great book, as usual!

 

[F.glueck]

I used to have that issue all the time, but now, I have at least 4-5 ideas that I know with confidence has product market fit. See if the following insight helps you out:

"The approach you are using to find an idea is misguided. The reason why you are having immense difficulty with finding one is because you are trying too hard into finding a completely, 100%, original idea. Such an approach is completely counterintuitive and is so for the following reason: If most of the richest people in the world didn't get to their position from executing 100% original ideas but through executing already existing ones better or with a spin put on how they were normally done, then we also do not need to be 100% original either. 100% original ideas rarely succeed and should only be realistically pursued by an experienced entrepreneur, otherwise, you are destined to fail. So, look at what already exists in the market and see how you can do things better, faster, cheaper, with a spin put on how it's normally done, etc. That's the fail-proof sure fire way of finding good "ideas", for already existing ideas have proven market demand (which means that you don't have to worry about product-market fit) and therefore mean that they have a good chance of working out (Which basically means the only way the business venture can fail is through mediocre execution, not failed product market fit). You could never have a single great idea in your life, but if you put your efforts and focus on executing the great ideas of others that already have proven market demand, then you will be able to succeed beyond your wildest dreams. Ideas are a dime and dozen and are useless and insufficient without proper execution, as it's the ultimate successful execution and implementation of ideas that can leave you with holding a pot of gold, not the idea itself, period. You need to look at "ideas" as business opportunities rather than ideas instead."

Thank you for the inspiring quote!
After reading it I found 2-3 business ideas almost immediately and they all came from products I ordered, but wasn't satisfied with the quality, service etc.

 

[K1 Lambo]

Willkommen. Just experiment with things you're interested in and try to make an income out of it in the beginning. You'll gain invaluable experience by just doing that. Especially at your age, you'll be ahead of many many people. It's critical to get used to failing a lot because it's going to happen. Try to make an extra $500, $1,000 or $2,000 a month from side gigs and maybe you'll find a possible business idea from there.

What are you naturally good at? Are you a tech geek?
Are you very good with people? Do you like connecting with new individuals and are able to get them to like you instantly? Are you able to control yourself when all hell's breaking lose? Are you able to accept the fact you're probably gonna be broke for several years or months before you finally start making any good money?

The fastlane forum is good too, although it's more of a place to discuss ideas and entrepreneurship that are related to MJ DeMarco's books. There are some pretty successful entrepreneurs on this forum too.

Andy also has an episode on his podcast called "Win The Day" where he talks about his time management strategy called the powerlist. Just watch it, it's probably the best tool for ultimate productivity and execution that's out there. I've been using it for over 6 months now and I've never been so productive in my life.

Don't make it too complicated for yourself. I know how it is for you since I'm about 2-3 years older than you. Just make sure to listen to the guys who are legit, execute, fail and learn from your mistakes. Realize that things take time.

Good luck!

 

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[DeletedUser84644]

Thank you for the inspiring quote!
After reading it I found 2-3 business ideas almost immediately and they all came from products I ordered, but wasn't satisfied with the quality, service etc.

No problem. Glad I could help. Feel free to DM or anything if you still feel stuck with anything / can't seem to find an adequate enough answer to something.