Struggling with Business Ideas? Do This One Thing to Never Run Out of Fastlane Opportunities

[1milclub]

he "fills then bills" -

Who would have thought that there is millions in pot holes. Needs are everywhere.

I also heard another story where someone has found use of the wastes of making rum to melt the snow. It is is natural, and doesn't kill the roads (may be the pot hole guy won't like this

 

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[johnp]

I also heard another story where someone has found use of the wastes of making rum to melt the snow. It is is natural, and doesn't kill the roads (may be the pot hole guy won't like this

haha yea that's another need that people are trying to fill like crazy. But in my area of PA they are not going to completely move away from salt any time soon.

Which brings me to another need. Salt.

I bet that there is money in importing and selling salt to states and municipalities. I like the fact that it's a heavy product that creates logistical problems, because the logistical problems (i.e., moving and storing) create opportunities within the opportunity. And it's not like there's a million different types of salt. In the case of the state it all comes down to price. If you out bid the competition then you win.

I know that the company that my department buys from has millions sitting in the bank. There is a salt shortage and they just ordered another 270k worth of salt to get through the rest of the winter.

 

[rkmalo1]

Great post.

 

[Kak]

Maybe I'm just gifted, but I can rattle off 300 ideas in the next 10 minutes. I have never had to think about it this hard. Shit comes to me as I live life and work on other businesses and projects. I started giving them away for equity and offer to share expertise in a passive and hands off manner.

 

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[brob742]

Maybe I'm just gifted, but I can rattle off 300 ideas in the next 10 minutes.

Just laughed out loud...I've seen a few people post different ideas/needs/pain points on the INSIDERS forum that could all be taken fastlane.

I think the problem for people is committing to one project. Or maybe that's just me. Serious commitment issues. "What if a more attractive idea comes along with bigger ____?"

 

[JasonR]

Maybe I'm just gifted, but I can rattle off 300 ideas in the next 10 minutes. I have never had to think about it this hard. Shit comes to me as I live life and work on other businesses and projects. I started giving them away for equity and offer to share expertise in a passive and hands off manner.

You're better at spotting them, because you've practiced your ability to identify and solve needs in a market.

Keep flexing that muscle, and you'll realize countless opportunities abound.

 

[Kak]

Step one- start a passive business that keeps you from ever needing a job again (covers your lifestyle)
Step two- screw around with anything under the sun because now you have time

When people ask me how to "do it" this is pretty much what I tell them.

It is way easer to choose now because if you are at step zero you choose the business that will cover your nut the easiest.

 

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[Bigguns50]

You're better at spotting them, because you've practiced your ability to identify and solve needs in a market.
Keep flexing that muscle, and you'll realize countless opportunities abound.

True for me. And now....my Wife is throwing ideas at me ! This is one fun ride !

 

[Zulu]

Not-speculation: Been trying this over the past few days. I've honestly found it a lot easier to call people up and say:
"Hello XYZ,
My name is Graham, I'm a young entrepreneur doing research on the xyz industry. Would I be schedule 2 minutes of time whenever it's available to ask a couple questions?"
Not everyone says yes, but a lot more do than via email.
Kind of speculation: I also think you want to go for depth here rather than a high number of people called. Sometimes people aren't going to be able to readily identify a problem, but if you can get them to walk through their day, you might be able to spot something you can make simpler for them.​

 

[MTF]

@Zulu

Awesome stuff! I absolutely love the fact that you took action and learned things I shared in this thread on your own. That's the best way to grow.

As for your "kind of speculation", that's why I prefer scheduling calls with people and only talking with people who are really eager to talk with you. You'll get half-assed replies from people who approach their business from a half-assed perspective, and legendary ideas from success-oriented people.

That's why I recommend talking with rock stars of the industry instead of small business owners.

Most small business owners struggle with getting clients. Owners of successful companies have much more specific problems and they understand the value you can provide them by sharing their problems with you. I also found them much more giving, easy to talk with and just in general friendlier.

Like I said in my first post, I had calls with two owners of huge cleaning companies and they could schedule a call with me and spend an hour or two talking about their business problems.

I also had a call scheduled with another guy, an owner of a small company, and he couldn't even keep his promise and pick up the phone at the scheduled hour.

Well, that's why some people are rock stars and some are barely getting by. Find big dogs and reach out to them. You won't find a better customer than these people.

By the way, you guys shared some incredible offline Fastlane ideas here. As @JasonR says, spotting opportunities is an ability. Once you realize it and start flexing your idea muscle, you'll understand why ideas are worthless and execution is king.

You could become a millionaire by executing any of the ideas shared in this thread.

Unfortunately, most of you won't because you'll say you don't know anything about software, plastic crates, pot holes or salt.

But there will be this one guy who'll say "okay, I don't know shit about any of these things, but I can learn them or hire an expert". And this guy will become the next pot hole millionaire - not any of the people who discount all ideas looking for a magic bullet simply because they're not willing to learn new things.

Entrepreneurship is more about mindset than anything else, folks. I only realized it after 6 years of "kind of" being an entrepreneur.

 

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[Zulu]

Awesome stuff! I absolutely love the fact that you took action and learned things I shared in this thread on your own. That's the best way to grow.
As for your "kind of speculation", that's why I prefer scheduling calls with people and only talking with people who are really eager to talk with you. You'll get half-assed replies from people who approach their business from a half-assed perspective, and legendary ideas from success-oriented people.
That's why I recommend talking with rock stars of the industry instead of small business owners.
Most small business owners struggle with getting clients. Owners of successful companies have much more specific problems and they understand the value you can provide them by sharing their problems with you. I also found them much more giving, easy to talk with and just in general friendlier.
Like I said in my first post, I had calls with two owners of huge cleaning companies and they could schedule a call with me and spend an hour or two talking about their business problems.
I also had a call scheduled with another guy, an owner of a small company, and he couldn't even keep his promise and pick up the phone at the scheduled hour.
Well, that's why some people are rock stars and some are barely getting by. Find big dogs and reach out to them. You won't find a better customer than these people.

Definitely going to start focusing on these people..was realizing how nuanced these problems were getting. Thanks man. Really appreciate your posts.

 

[Bigguns50]

http://www.midnighthourmoving.com/craterental.htmlhtml
http://www.rentacrate.com
http://www.rentagreenbox.com/our-story.html

Here are 3 companies like @MJ DeMarco was talking about.
They all have weaknesses.
Can you spot them ?

I'm doing other things but there's opportunity here for the taking.

 

[HarryR]

http://www.midnighthourmoving.com/craterental.htmlhtml
http://www.rentacrate.com
http://www.rentagreenbox.com/our-story.html

Here are 3 companies like @MJ DeMarco was talking about.
They all have weaknesses.
Can you spot them ?

I'm doing other things but there's opportunity here for the taking.

I'm going to take a shot at starting to think critically about potential competitors.

http://www.midnighthourmoving.com/craterental.html
only available in the dfw area.
the website made me crosseyed
This seems like it should be broken up into seperate websites selling crate rental and moving services. It seems like theres information on too many options on each page instead of saying 'click here to make all your problems go away'
http://www.midnighthourmoving.com/craterental.htmlhtml
http://www.rentacrate.com
An obnoxiously long request a quote form. Maybe the market expects that, but having some nice packages shown might help people see if the service is for them. Also it seems like an instant quote feature would be helpful. Have people fill in information about what they need for an instant quote. As soon as they are done, generate a pdf quote and send it to them. They may be doing this, but the UI sucks.
Home page headline 'rentacrate has solution for you' is weak.
It seems like they are trying to promote shredX and escrap. Maybe branding your own services offering the same results would be more profitable in the long run?
they only target businesses.
http://www.rentacrate.com
http://www.rentagreenbox.com/our-story.html
These guys looked pretty awesome. I dont really see a weakness unless its just targeting customers who are instantly turned off by anything 'green'. They really sell 'cheaper, faster, easier' on the home page though.

 

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[Bigguns50]

@HarryR ... Good job.

The weekness with Rentagreenbox is they have been in business since 2005 .... Franchisee they're business and are only in California.

9 yrs and they're STILL in the same State !

I liked they're site and all but something or someone in their company is holding them back. 9 years !

 

[1milclub]

Ihttp://www.rentagreenbox.com/our-story.html
These guys looked pretty awesome, ...

but ...

I see there are some broken links for images, and the biggest problem seems to be it is not updated. Look at the 'News' section on bottom left - Latest news from 2008!

 

[NoLackey]

http://www.frogbox.com/

These guys were on an episode of Dragon's Den (Canadian version of Shark Tank). They did an update and have expanded in to 5 cities and making $80,000 a month. That was a few years ago. They are marketing the 'go green' aspect of these boxes instead of cardboard or other throwaway materials.

 

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[Bigguns50]

@NoLackey nice....and people get hung up on business names..lol. If you offer great value and it's what people want, name it whatever you want.

 

[MTF]

How Can I Use This Process to Start a Business Which Is Not Related to Software or Is Not Online-Based?

One person asked me the following question:

When you have done your cold emailing/calling have most of the problems raised by people been related to a software fix (I know this is what you are targetting) or has there been much related to practical solutions or cost reduction (ie. can you supply me something cheaper?).

As he already pointed it out, so far I've been mostly targeting problems that can be solved with software (not anymore). However, it doesn't mean you can't come up with great ideas for a business which has nothing to do with software or that isn't even online-based.

It's all about the way you ask questions and just listen to people. You can ask questions to learn about pains related to something you can solve with software, you can ask questions about problems related to manufacturing, selling or services. You can talk with entrepreneurs (including owners of brick and mortar businesses and online businesses), professionals, your friends or family, and each time you'll get completely different replies and ideas.

"Okay, okay, shut up and give me some real-world examples, man!". You love real-world examples, don't you? There you go.

Real-World Examples Proving There Are Many Ways to (Un)Dress Your Mistress

(sorry IceCreamKid, can't help using your funny metaphors for corny jokes)

1. Solution for conservators-restorers. Just by talking with an art history professor (who's a friend of my mother so I discovered this pain by chance) I learned that conservators-restorers in my country have a hard time learning about new biddings for conservation-restoration jobs.

These guys work on one project (e.g. renovating an old chapel) and once they finish it, they're looking for a new job. Since each place (such as a church or a museum) usually publishes information about a job only on their website, it's a major pain to check hundreds of sites on a daily basis to track all new biddings and potentially get a new job.

Consequently, most conservators-restorers have to rely on word-of-mouth marketing which puts young professionals at a disadvantage because they don't have as many connections as old guys.

There are several possible solutions:
- lead gen website (limos.com for conservators-restorers)
- SaaS (software that would automatically track all biddings and post them on the site)
- simple paid newsletter (people pay per month for weekly e-mails with information about biddings - you can hire a student to collect this information for you)

I have no idea about conservators-restorers, but I can talk with them and within one hour learn about all major pains and frustrations of their work and walk out with several new ideas for both online and offline businesses.

Just to give you a bonus example-in-example, most conservation-restoration jobs take place during the warm months because cold weather can badly affect items or places they renovate.

What if you could become the only company in your country that does conservation-restoration jobs safely during the cold months as well? Major USP.

There you go - an idea for an offline business that is a result of a simple 30-minute conversation.

2. Help with embroidery design. One of my friends, a guy who's an owner of a company that prints designs on t-shirts, mugs and other stuff told me he has a hard time finding someone who could help him convert designs to a project that can be loaded on his embroidery machine.

I don't even know what I'm talking about now, but it's a pain for him, and I bet there are owners of other similar companies (including clothing companies) who also have a similar problem as it's a manual design work owners of these companies can't be bothered with.

Possible solution? Start a company that only specializes in creating designs for embroidery. You don't have to be a graphic designer to start it - you can simply start by working with freelancers.

I didn't even ask him about his business problems. We just talked and he basically threw a business idea, and because I'm fine-tuned to listen for problems and needs, I remembered it. If I were to validate this idea, he could probably become my first customer (it's much easier to sell your products and services to your friends and family first).

3. Bored people. In my first post, I shared with you an idea to organize fun events in your city. People in many cities all over the world suffer from lack of cool opportunities to spend free time with their friends or their partner. Ask your friends if they'd like to have more fun during their free time (instead of spending several hours per day on Facebook). I bet most of them would love to go out and do something fun. Just read comments under each video of this guy.

In my original post, I wrote that you can solve this problem by starting a company that organizes regular fun events. However, this problem signalizes many more opportunities for different kinds of businesses.

Problem: people are bored and want to spend time doing something fun.
Solution: provide fun.

Possible solutions:
- as already said above, organize fun events. 1-hour lessons teaching how to do a simple and fun thing, meet-ups (including stuff like speed dating), competitions, etc.
- start an e-commerce site with toys for adults (I'm *not* talking about dildos and inflatable dolls, you dirty perv!). You can sell frisbees (Aerobie Pro is mad fun), board games and fun gadgets. For inspiration, check this store: http://www.vat19.com/ I bet they enjoy great sales. Many of their videos on Youtube have over 1 million views, and they have 46k fans on Facebook. These products have a great potential for a viral marketing campaign.
- manufacture your own toys/other fun stuff. Have it made locally or find a company in China to make it for you.

Three different ideas, three completely different kinds of businesses, all solving the same problem.

Just to be clear with you - I may still pursue some of the ideas I shared above, but I'm not afraid you'll steal them. Why? Because ideas are worthless.

Moreover, I'm sure that pretty much nobody will even try to validate ideas I shared in my first post or for that matter, any other great ideas shared in this thread by other people.

Why? Firstly, because it's the hard part. Only a few percent of people are action takers. Secondly, because most people will *assume* that since these ideas are public, they're no longer worth anything (as if they were worth anything in the first place).

I'm sure that all successful INSIDERS here would become millionaires much sooner with a shitty idea than a newbie with a legendary idea. The reason is simple - it's all about the execution.

Just to prove my point, check this company: https://www.myclean.com/ How many of you would say that a maid cleaning services company is a shitty idea? Yet the monthly revenue of this company was $400k 4 years after launching it and it went from $20k in monthly revenue to $400k in just one and a half year (source). It wasn't about the idea, it was about brilliant execution. Your ideas don't have to be sexy.

Anyway, I hope this post will help at least some of your realize that opportunities are indeed everywhere. Like @MJ DeMarco wrote in his first reply to this thread, listening is a lost art.

If you simply start listening to people more and focusing on their problems and needs, you wouldn't even have to cold call people or send them messages on LinkedIn to get great ideas (for both online and offline businesses) on a daily basis.

 

[KLaw]

Wow. I am really digging this thread. It is loaded with everyday examples. But more importantly to me is it is teaching me to "see". Thanks for the education to all!!!

 

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[Bigguns50]

@KLaw ... That's how we roll baby !

 

[throttleforward]

When I checked, there were a few that did this, but I never knew about it. That means they are not marketing well.

The solution to this makes a lot more sense after @JackEdwards INSIDERS call. The process he described for marketing would apply perfectly here. 3 people calling local apartment complexes (within a concentrated metro area), saying Rental Box Co. would like to offer a substantial discount for their customers as they move in/out, and in exchange the apartment complex promotes the Rental Box Co. deal to everyone in the complex who is moving in or out. You then physically transport the crates as they are used around the city (reduces shipping costs and turnaround time). When successful, expand to a nearby city.

I'll bet no one else in the space is doing this kind of telemarketing - I'll bet all they care about is PPC and SEO.

edit: might be able to offer a profit-sharing deal with the property management company to sweeten the deal. Might also be able to claim that moving times are reduced due to the easy transport of the standardized boxes, reducing freight elevator use, fire lane blockage, etc.

 

[drmctcher]

@MTF Really sweet thread you started here! Thanks for sharing your mindset and process. I may PM you regarding one of the ideas you mentioned for a bit of background, as I have a deep personal connection to one you mentioned.

Thanks to all have commented in this thread!!

I'm not good with words but, I'm trying to provide more valuable comments.

@throttleforward I totally agree with this -

The solution to this makes a lot more sense after @JackEdwards INSIDERS call. The process he described for marketing would apply perfectly here

I'm seeing Jacks process as an amazing way to put your execution on some SPEED!
Also since the call have thought of a few ideas to use this model!! That's some serious secret sauce! Thanks again @JackEdwards

 

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[StartupsRFun]

Took the event advice, contacted some friends, and started an event on EventBrite. Ready to rock this, plus I get to have some drinks as well. Still some spots open if anyones interested and going to be in Portland, OR on April 2.

https://www.eventbrite.com/e/portland-craft-cocktail-hour-tickets-10920085269

Also would like to keep this going as a monthly event. Any advice or suggestions on the details of the event?

 

[MTF]

Awesome stuff! The most important things I would take care of is taking some good photos (to show people how fun events you organize) and collect e-mail addresses of all people who attended your first event as it will be much easier to sell to them when you organize new events.

 

[HarryR]

Another thing i would suggest is @zendolphins newspaper exercise

Sent from my DROID RAZR using Tapatalk

 

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[NickT41]

There's also the "Amazon Whisperer" who reads the negative reviews on products, then creates a similar product with the changes that the reviewers basically ask for.

 

[HarryR]

There's also the "Amazon Whisperer" who reads the negative reviews on products, then creates a similar product with the changes that the reviewers basically ask for.

You don't always have to get this custom built either. For example a lot of well reviewed hot plates on Amazon have 1 star reviews complaining about it not being powerful enough. They are usually 1k or 1.5k Watts. There are already 2k watt hot plates on alibaba.

Sent from my DROID RAZR using Tapatalk

 

[Bigguns50]

There's also the "Amazon Whisperer" who reads the negative reviews on products, then creates a similar product with the changes that the reviewers basically ask for.

Love this thinking on larger scale than just noticing things that suck.

 

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[RHL]

Happened to me last week when I launched my newest video. It was like the money was grabbing me by the collar and pummeling me in the face trying to get me to open my pocket and take it in. Anytime customers ask you, "do you have X" 5-6 times in a short period, your answer shouldn't be "no" but "I will soon."

Implemented, immediate conversions/sales, noticeable bump in web traffic.

 

[MattCour]

Love this thinking on larger scale than just noticing things that suck.

The crazy part is, that FC article said they do 9 figures in revenue!!! Now That's adding value!