MJ, I've got a question for you.

[Christopher104]

So I was thinking about how to find different ideas. I know you explain in your books that you need to look for the "I hate... I wish... it would be nice if..." speech. But I'm not sure where to find said speech.

I don't expect it to be as easy as an idea search engine, but it would be nice to know where to do market research at.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GatsbyMag]

So I was thinking about how to find different ideas. I know you explain in your books that you need to look for the "I hate... I wish... it would be nice if..." speech. But I'm not sure where to find said speech.

I don't expect it to be as easy as an idea search engine, but it would be nice to know where to do market research at.

read the forum golden threads.
listen to people on social media and irl.

no one will hold your hands through this process.

 

[Christopher104]

read the forum golden threads.
listen to people on social media and irl.

no one will hold your hands through this process.

understood, thanks for the feeback

 

[Raoul Duke]

I hate long walks on the beach.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Bearcorp]

I hate long walks on the beach.

Argh same. Sitting on the beach? Sure. Watching the beach from the balcony of a bar or pub? Absolutely. Walking along the beach, in the sand, for ages just to turn around about come all the way back? Bloody pointless.

in 2019 when we could travel I did smoke some legal weed in Cali and rode a hired bike from Santa Monica high as a kite, past all the homeless people at Venice Beach and the muscle gym and further along to somewhere I can’t remember, I stopped and had a beer and another joint and rode back, but walks? Not interested.

 

[Raoul Duke]

Argh same. Sitting on the beach? Sure. Watching the beach from the balcony of a bar or pub? Absolutely. Walking along the beach, in the sand, for ages just to turn around about come all the way back? Bloody pointless.

in 2019 when we could travel I did smoke some legal weed in Cali and rode a hired bike from Santa Monica high as a kite, past all the homeless people at Venice Beach and the muscle gym and further along to somewhere I can’t remember, I stopped and had a beer and another joint and rode back, but walks? Not interested.

Nah.

I hate having sand between my toes. Ewww. gross.

 

[Bearcorp]

Nah.

I hate having sand between my toes. Ewww. gross.

Sand gets everywhere, it’s a pain in the a$$.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Gabbe18]

So I was thinking about how to find different ideas. I know you explain in your books that you need to look for the "I hate... I wish... it would be nice if..." speech. But I'm not sure where to find said speech.

I don't expect it to be as easy as an idea search engine, but it would be nice to know where to do market research at.

When I was looking for ideas I just went on twitter, facebook, reddit, etc and searched the terms you mentioned. I hate..., I wish there was a website that...., I wish there was a product that....., this sucks..., I don't like.... Do that for a few hours or days and you'll have a plethora of business ideas. For me twitter and reddit have been great sources for ideas. Some subreddits where I found great ideas are Business_Ideas, SomebodyMakeThis, ProblemsToSolve, DIY, gameideas, Lightbulb, Frustration, Startup_Ideas.
Twitter is also a platform where people complain a lot so you can find some great things there as well.

I also recommend reading Chapter 35 in Unscripted especially pages 266 to 277, "Finding Fastlane Ideas (13 ways)". MJ goes into great depth on how to find business ideas in that part of the book.

I hope this helps!

 

[RemySheppard]

So I was thinking about how to find different ideas. I know you explain in your books that you need to look for the "I hate... I wish... it would be nice if..." speech. But I'm not sure where to find said speech.

I don't expect it to be as easy as an idea search engine, but it would be nice to know where to do market research at.

Google niche message board

cat message board
auto repair message board
tattooo message board

You'll be surprised what you turn up.

 

[Christopher104]

When I was looking for ideas I just went on twitter, facebook, reddit, etc and searched the terms you mentioned. I hate..., I wish there was a website that...., I wish there was a product that....., this sucks..., I don't like.... Do that for a few hours or days and you'll have a plethora of business ideas. For me twitter and reddit have been great sources for ideas. Some subreddits where I found great ideas are Business_Ideas, SomebodyMakeThis, ProblemsToSolve, DIY, gameideas, Lightbulb, Frustration, Startup_Ideas.
Twitter is also a platform where people complain a lot so you can find some great things there as well.

I also recommend reading Chapter 35 in Unscripted especially pages 266 to 277, "Finding Fastlane Ideas (13 ways)". MJ goes into great depth on how to find business ideas in that part of the book.

I hope this helps!

it does, thank you!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Christopher104]

Google niche message board

cat message board
auto repair message board
tattooo message board

You'll be surprised what you turn up.

Alright I'll try that. Thanks for the help!

 

[Hai]

So I was thinking about how to find different ideas. I know you explain in your books that you need to look for the "I hate... I wish... it would be nice if..." speech. But I'm not sure where to find said speech.

I don't expect it to be as easy as an idea search engine, but it would be nice to know where to do market research at.

Engage with the market. Do something. Have hobbies. Have a job..... etc. once you engage with the real world you will find problems. Businesses are not made on an island.

 

[SEBASTlAN]

Get a job.

99% chance you'll have a few ideas by the end of the week.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Christopher104]

Get a job.

99% chance you'll have a few ideas by the end of the week.

Oh trust me I can think of a million ways to improve my workplace. But O'reilys Auto Parts is one of those greedy AF fortune 500 corporations that makes the bulk of its money off stock investors. They don't exactly care about employees or the store conditions unless it makes them money.

One of the ideas I had was taking the auto parts store and adding a garage with lifts so DIY guys could easily work on their cars with the parts they just bought and not have to get uncomfortable on the ground. But the only problem is that I don't have the money for the real estate required. But I'll definitely be pursuing the idea when my other businesses succeed and I have the capital.

Anyways, good advice. Thanks for sharing

 

[sfarieri]

Alright I'll try that. Thanks for the help!

So I was thinking about how to find different ideas. I know you explain in your books that you need to look for the "I hate... I wish... it would be nice if..." speech. But I'm not sure where to find said speech.

I don't expect it to be as easy as an idea search engine, but it would be nice to know where to do market research at.

I could be wrong, but I remember Twitter being mentioned as a place to find this. Perhaps searching for "I hate" or "I wish" on there.

 

[RemySheppard]

Oh trust me I can think of a million ways to improve my workplace. But O'reilys Auto Parts is one of those greedy AF fortune 500 corporations that makes the bulk of its money off stock investors. They don't exactly care about employees or the store conditions unless it makes them money.

One of the ideas I had was taking the auto parts store and adding a garage with lifts so DIY guys could easily work on their cars with the parts they just bought and not have to get uncomfortable on the ground. But the only problem is that I don't have the money for the real estate required. But I'll definitely be pursuing the idea when my other businesses succeed and I have the capital.

Anyways, good advice. Thanks for sharing

That's a cool idea, and as someone who changes his own oil it's something I would appreciate, but the insurance on it would be a nightmare.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[sparechange]

Looking at products that already exist with complaints is the best option imo, that way you can improve it and help the people voicing complaints.

Amazon could be a start.. using an office chair as an example since I need one....

Look at the 1 -3 star reviews and look at some common complaints, see if you pickup a trend.

Finding ideas is super easy, the hard part is actually pulling the trigger and going through on execution after spending time in the desert of desertion



Now if you can somehow make a better office chair you are in business.

If you really dedicate a whole day to just looking for an idea, you should have multiple ideas to look through, then you'll need to vet through the options, as for the office chair example you'll need to do some homework.

Can you source a supplier/manufacturer etc? Are you capable of actually creating a better chair? Then can you get all the different materials? How will you manage shipping to customers, or will you sell b2b? Of course this applies to everything and anything, it seems simple but there are alot of things that you'll need to learn on the fly.

Hope this helps

 

[MJ DeMarco]

I know you explain in your books that you need to look for the "I hate... I wish... it would be nice if..." speech. But I'm not sure where to find said speech.

That's just one place to start for more unique ideas.

Unlimited opportunities are found in skewing value of things that already exist, things that aren't being done very well. (Value skew is in the back half of Unscripted .)

 

[LightHouse]

You are on the internet and not sure of where to read complaints and peoples gripes?

What kinda internet do you have, I will take 1 please....

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Johnny boy]

Engage with the market. Do something. Have hobbies. Have a job..... etc. once you engage with the real world you will find problems. Businesses are not made on an island.

Underrated advice. 100% agree.

 

[Guest-5ty5s4]

Sand gets everywhere, it’s a pain in the a$$.

"I don't like sand. It's coarse, and rough, and irritating, and it gets everywhere."

 

[Guest-5ty5s4]

That's just one place to start for more unique ideas.

Unlimited opportunities are found in skewing value of things that already exist, things that aren't being done very well. (Value skew is in the back half of Unscripted .)

As the world has gotten more savvy to the internet and technology, these opportunities seem to more and more lie in offline, un-sexy industries. The main limitation there seems to lie in CENTS.

If you want to know what I mean, read some Yelp reviews. There are way more bad ones than good ones.

To go even further, look at B2B small businesses - especially the ones Thomas Stanley talks about - and think about the problems they are solving in the supply chain, and what similar problems you could solve there, too.

The local "business hall of fame" really opened my eyes - I read each biography and realized all these guys were multi-millionaires and none of them did anything particularly new, exciting, or interesting.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[socaldude]

Money making is simply the coupling and allocation of scarce money and scarce resources. Every economic environment is different and it’s your job to become more aware of it.

When a consumer pays for a crappy service and pays too much that in itself is a failure to maximize utility. As an entrepreneur it is your problem. For the average person who is selfish and dumb, they could care less.

If you saw a piece of trash on the floor would you pick it up? I would because I’m obsessed with the concept of utility and allocation. The average person wouldn’t cause it isn’t their problem. Would you sweep a public sidewalk for free?

Often times people fail as entrepreneurs cause they’re too selfish. It just isn’t their “problem”. But oh yeah, where the money at?

Your gonna have to think in a way you were never taught and think in a way that is not normal. Because after all the crap that is pushed in your environment is designed to make you nórmal so it must be ignored.

 

[HabitsCampaigner]

Oh trust me I can think of a million ways to improve my workplace. But O'reilys Auto Parts is one of those greedy AF fortune 500 corporations that makes the bulk of its money off stock investors. They don't exactly care about employees or the store conditions unless it makes them money.

One of the ideas I had was taking the auto parts store and adding a garage with lifts so DIY guys could easily work on their cars with the parts they just bought and not have to get uncomfortable on the ground. But the only problem is that I don't have the money for the real estate required. But I'll definitely be pursuing the idea when my other businesses succeed and I have the capital.

Anyways, good advice. Thanks for sharing

Christopher, I wanted to thank you for asking this question. The answers have greatly helped me too.

Also, I wanted to offer you a distinction, if you're up for a little coaching. You are already well on your way, asking the right questions and doing the right homework. This minor feedback, I hope, will help you succeed ultimately. Here's the thought I want to share with you (I figure that if you are still reading, you want this feedback...): instead of thinking of them as greedy, admire the people who have been successful. You can still hate your job and feel motivated to get out of there... but think of as many successful, money-making people as people to be admired. There's nothing wrong with making money. I don't know anything specific about the O'Reily people but if they are not great, find a dozen other great, wealthy leaders and admire how they've made so much money. It's good for motivation.

 

[PapaGang]

If you saw a piece of trash on the floor would you pick it up? I would because I’m obsessed with the concept of utility and allocation. The average person wouldn’t cause it isn’t their problem. Would you sweep a public sidewalk for free?

Often times people fail as entrepreneurs cause they’re too selfish. It just isn’t their “problem”. But oh yeah, where the money at?

Your gonna have to think in a way you were never taught and think in a way that is not normal.

Jim Rohn calls this "leaving a profit."

Leaving your environment better off than how you found it is the starting point of turning profits. Making someone's life better, repairing what's broken, solving problems. Soon enough, money comes calling.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[socaldude]

Leaving your environment better off than how you found it is the starting point of turning profits. Making someone's life better, repairing what's broken, solving problems. Soon enough, money comes calling.

Exactly,

Money is a highly stimulating thing. It works up emotions of greed and selfishness. It’s an illusion.

The economy works off productivity, utility and efficiency. And can be understood prior and outside any crisp $100 Bill staring back at you.

 

[Christopher104]

Christopher, I wanted to thank you for asking this question. The answers have greatly helped me too.

Also, I wanted to offer you a distinction, if you're up for a little coaching. You are already well on your way, asking the right questions and doing the right homework. This minor feedback, I hope, will help you succeed ultimately. Here's the thought I want to share with you (I figure that if you are still reading, you want this feedback...): instead of thinking of them as greedy, admire the people who have been successful. You can still hate your job and feel motivated to get out of there... but think of as many successful, money-making people as people to be admired. There's nothing wrong with making money. I don't know anything specific about the O'Reily people but if they are not great, find a dozen other great, wealthy leaders and admire how they've made so much money. It's good for motivation.

I really like what you have to say here. This post is a little older and my view on things have changed but the reason why I felt like the higher-ups of the O'reilys corp. are greedy were because of two things:

1) There are no security cameras, the place closes at 10P.M., and there's only two guys operating the store. We're a very easy target for robbery. I was actually apart of one as well, a guy came into the store 20 minutes before close and pulled a gun on me. The biggest FTE of my life right there.

Their response to this was "How much did they take?". They'll make damn sure that you drop your money consistently, but cringe at the thought of investing a little more for better employee safety regulations.

2) We do a lot more than other retail stores for less. In a place like Walmart or JC penny, all you have to do is:
-put up stock.
-check out items.
-direct customers.

hourly pay: 11.25/hour with 6 mon-1 year reviews that have logical quota's and checkboxes to increase your pay.

But at O'reilys...

-put up stock.
-check out items.
-direct customers.
-change car batteries.
-change wiper blades.
-change light bulbs.
-Try to answer car questions because people THINK you're a mechanic no matter how many times you tell them otherwise.
-test starting systems.
-test engine check lights.
-answer phone calls to see if we have a certain part for a certain vehicle. (And trust me, there are many.)

hourly pay: 10.00/hour with barely functional reviews every year that maybe...just maybe... will increase your pay by .50-1.00 if the manager "" like you do a good job.

The bottom line is...
there's a difference between what I call a "ladder CEO" and "self made CEO".

Ladder CEO's generally don't care about anyone but themselves and seek to squeeze every cent you have out of your pocket. They kissed all the a$$ that they could in politics to get to where they are. While there are a few Ladder CEO's that pull off some really amazing things and make the world a better place, those are sadly the exceptions. Not the rule. (These are the companies I call greedy Ex: Gregory Johnson with O'reilys)

Self made CEO's add value to the world and care about the people around them. These are the guy's that give Christmas bonuses to their employees, recall a product if it's unsafe and the government hasn't found out yet, innovate what they sell and if there's a recession they have an emergency savings to make sure no one gets laid off. (these are the companies I admire. Ex: Elon musk with tesla and SpaceX)