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What is wrong with me? Why are business ideas hard to come up with?

Discussion in 'General Mindset, Motivation, Beliefs' started by Willing2Learn, Jan 11, 2018.

  1. Willing2Learn
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    Willing2Learn Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I have the will and determination to create a business or a business system. Once I have an idea in my mind, I can focus and get right to work. I am hard worker, and once I've decided to do a project, I do it.

    But for whatever reason, I can't think of a damn good business idea. I just can't.

    Now, I know the whole philosophy, where you're supposed to "provide value", "Stop chasing money and instead solve problems." I get all of that. But what do you do when you're in desperate need of money, and getting a job is very hard to do?

    I've applied for so many jobs, and I've gone on interviews, and even though I have a part-time job ($10/hr at best 15-20 hours a week), I can't pay my bills, my rent, my car/car insurance, buy food, etc.

    We just came off the holidays, and I know that some businesses are slow, but you NEED money to survive. It's that simple. I get the whole "provide value" thing, but let's be realistic. You need money to survive, and I'm thinking about starting a business because I need money coming in.

    My problem is that I can't think of an idea that I am confident will be a seller. Going into business is a huge risk. Should I just take any idea I think "could" potentially be a seller and do it? And if it fails, it fails?

    Everything is based on time, whether it is finding a job or starting a business. It's just that money is so scarce in my life right now, and I need a huge injection of it.

    Does anyone have any advice that they could give me?

    Thanks.


    EDIT: I've read this thread for some clarity (Coming up with new business ideas), so any advice on what to when you are desperate for money? Not much you can do right? Just keep hustling and praying you'll land a job?
     
    Last edited: Jan 11, 2018
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  2. The-J
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    The-J Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    It's because you don't know.

    This, I think, comes in two forms.

    There's ignorance, and then there's insecurity.

    You have both. Not to offend, as ignorant is used as an insult. But I don't mean to insult you; I mean to inform you that you don't know what you don't know. That's ignorance. You don't know WHAT could make a good business idea or WHY. You gotta know both.

    Insecurity is the next part. Let's say you've stumbled upon an idea and you've done some due diligence (to the best of your ability; experienced business owners are better at this). You have the resources: money, time, whatever.

    Then comes the actual decision of whether to do it. You don't know if it's going to be a success! You don't even know your CHANCES of success! sh*t, if only you knew your chances of success you'd do it, right?

    Well... no.

    What do I recommend you do?

    Something. Just start something. Copy a common business model and sell something. Start a business that you know lots of people are succeeding from... then commit to it. (Just don't copy word-for-word the businesses that are publicly talked about on here, and don't copy your buddy's business unless he gives you the OK.) Start an Amazon or eBay business. Do freelancing for a bit. Cold call to sell websites. Start a niche site. Do retail arbitrage. I dunno, do something.

    Whatever you have the funds to do, do it. Selling websites and doing freelancing costs $0. Your first Amazon test order could cost as little as $300.

    Commit to it for, say, 6 months. You're gonna work on it every day for 6 months. At the end of 6 months, see how well you did.

    Your ignorance won't fix itself. A business idea is not going to fall out of the sky. You need to be out in the marketplace, exposing yourself to people, markets, and demands.

    Your insecurity won't fix itself either, because you have no basis with which to be secure. It also means you have the ultimate freedom to try anything without thinking it might be stupid as sh*t.

    Don't worry too hard about how 'fastlane' it is, because you make $10/hr. You're not even on the road. Just get started.
     
  3. B_Mac
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    B_Mac Contributor Read Millionaire Fastlane FASTLANE INSIDER

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    I think since you are short of ideas and money, you should slow down just a little while you put both together.

    My personal method of getting money together is here GOLD - How I earned money (hustle arbitrage) to start a real business.

    But there is an entire section on the forum dedicated to Hustles, Freelancing, and Bootstrapping. Read through those. Pick something out that will get some money rolling in. It'll take some pressure off you financially, allow you to build up some funds to put towards a more scalable business once you have an idea, and maybe, as you are working your hustle, you will see some way to improve something related to what you are doing.
     
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  4. SputnicK
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    SputnicK New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I am considering importing items from "Alibaba" (a website that hosts Chinese retailers) and reselling on Amazon. I have not yet decided on the product, although I have a few ideas in mind. Here's a guide I've been following if you're interested.
     
  5. minivanman
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    minivanman Bronze Contributor Speedway Pass

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    Bag some air and sell it. $4.95 for 2 bags + s&h. But wait, you can get 5 FREE bags of air and all you have to do is pay a separate s+h. Set you up a website and they can buy air from anywhere in the world they want it from. London? Omaha? North Korea? Anywhere in the world you would like. Ocean air, mountain air, old folks home air.... Mix & match.

    They've sold rocks, land on other planets and all other kinds of stuff, why not air? You can thank me later.
     
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  6. Walter Hay
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    Walter Hay Legendary Contributor Speedway Pass LEGENDARY CONTRIBUTOR

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    That guide has been dealt with extensively on the forum in the past. The guide still contains obsolete information and some advice that is downright wrong. If you look through the questions on the blog you will find that they haven't even been answered.

    If you want to avoid some of the risks involved in product sourcing and importing, you might like to have a look at my AMA on the subject:
    GOLD Sharing my lifetime experience in export/import. Product sourcing specialist.

    Ask questions there if you like, and I will answer them.

    Walter
     
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  7. SputnicK
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    SputnicK New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Thanks for the heads up Walter, I will take a look through your thread. I am new to this process so I am still learning the basics of selling online while mitigating potential risk. If this way of importing is frowned upon on this forum, I am sure there is a solid reason behind it.
     
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  8. Walter Hay
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    Walter Hay Legendary Contributor Speedway Pass LEGENDARY CONTRIBUTOR

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    Importing can be a highly profitable business and can be scaled. There are many members on the forum that have prosperous importing businesses.

    Just be sure you get advice from people who really know. For example, unlike some people, I won't tell you that your suppliers will handle Customs issues for you with no issues for you. Ridiculous!

    I won't tell you to rely on Alibaba's escrow because it has not even existed for a long time!

    I won't tell you that using only Gold Suppliers will eliminate 98% of scammers! Alibaba wouldn't even say that because they know better.

    Etc....

    Walter
     
  9. NickC
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    View: https://www.youtube.com/watch?v=piQobLkLRMk
     
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  10. Willing2Learn
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    Willing2Learn Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Thank you guys. I am considering all of your feedback.

    I had just one question though, about the cold-calling to sell websites. How does that work exactly? Do you purchase the domain names, and then call businesses and sell them?
     
  11. Jimbo70
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    I have the same problem , posted a similar thread a couple of days ago you mentioned it in your post, coming up with business ideas isn't that easy . For now i'm just researching different industries, trying to come up with something .
     
  12. Real Deal Denver
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    Real Deal Denver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I have a few friends that were your same situation. Here is some rock solid advice that you can put to use TODAY.

    Drive Uber or Lyft. Lyft is better. A friend makes $100 in two hours on any given day. Early hours by an airport are best.

    Wash windows or mow lawns. I have a friend that used to wash windows - every window in the house, inside and out, for $85. Of course, you have to hit the upscale neighborhoods to do this. I have another friend that mows lawns. $40 average. He has some steady customers that pay him - wait for it - $450. For one lawn mowing. That's right. It's a large office building with quite a large lawn, of course. But easy work.

    Pick up dog poop. $15 for once a week. $25 for twice a week. Good money for an easy job. Repeat customers.

    Clean houses. I know a LOT of people that do this. Two times a week - $60 for 3 hours each time. That's $120 for some customers - but most do twice a month. Repeat customers - easy work.

    Clean and organize a garage. $60 for about an hour and a half. Word of mouth business that will have them calling you.

    Errand boy. For elderly people. Whatever they want - by the hour. Lots of people will do this 2 times a month. $20 an hour - twice what you're making now, plus gas fill up when done. Fantastic repeat and word of mouth advertising business.

    NOW - once you STABILIZE and can pay your bills - THEN you can plan a much more full time business or career plan. Don't get me started on that. The sky is the limit. Go to amazon and search "starting a business" and you will find maybe 30 books that are cheap that can give you a million ideas. Spend $5 a book for two or three. Surf the internet.

    Once you open your mind to possibilities, this is child's play. I can take the 20 hours you are not working in a week and fill them with much EASIER work for at LEAST twice what you're getting paid now. Think outside the box.

    Good luck ~ and dream BIG.
     
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  13. Willing2Learn
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    Willing2Learn Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Thank you. I appreciate the advice.

    And good luck to everyone else who is in the same boat. I know that it is not easy. Nothing in life is apparently.

    Just hang in there and do the best you can.
     
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  14. socaldude
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    socaldude Gold Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    If there is difficulty in gaining insight into opportunities its because you don't have the right axioms in mind.

    It's what Elon Musk always talks about. Reasoning from first principles. Ayn Rand talked about this too.

    It's what you need in physics and business.

    It means reasoning from the most basic truths so that way there is no way our advanced propositions(P1,P2,P3,P4...etc) or insights can be wrong.

    For example a few that I can think of off the bat:

    A1: Money always involves the decision from a human element.

    A2: Money will always be held tightly from a targeted party or person unless an inventive is proposed.

    A3: Money is granted to the grantee when pain is alleviated or pleasure is the outcome.


    We use the first princples to come to an idea that alleviates pain and creates convenience. It's easier to come up with ideas this way.

    Now this may seem kind of dumb and obvious but most people don't get this.

    Once you do this you can create some very advanced business insights that have a low probability of being wrong. and see opportunities most don't.

    Mj's CENTS model is actually a form of axioms to reason off of.

     
    Last edited: Jan 15, 2018
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  15. karogwaa
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    Am in the same boat ur in its easy to think of an idea but so hard to put it into action.. from my side i was thinking of starting a camping business as here in our country its a very rare thing people don go out camping or picnic but i dont know how and where to go about this
     
  16. LiveEntrepreneur
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    It's actually not that hard, if you think in terms of "problems" trust me you will be pumping out new ideas every week if not every day if that's what you are focusing on. So what you need to do is say to your self "what problems do people have that I could fix?" or "what product can I make that will solve a pain point for the customer" after I had this line of thinking I had ideas flying left and right. Remember not all of them will be suitable but its a good start. Don't think in terms of "what is the next billion dollar app idea", in my experiences it didn't get me too far. And if you want to make millions you could think along the lines of "What are problems that millions of people face that I can solve". One useful tactic just walk around people, and listen to them complain they will say stuff like "I really hate doing ..." or "I am sick and tired of ..." from there you might be able to think of something. Good luck!
     
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  17. karogwaa
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    karogwaa PARKED

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    Thank you. I appreciate the advice
    Thank you. I appreciate the advice I'll definitly
    Thank you. I appreciate your advice
     
  18. LiveEntrepreneur
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    LiveEntrepreneur Contributor Read Millionaire Fastlane

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    No problem.
     
  19. Mr.Brandtastic
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    Mr.Brandtastic Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Don't overthink it. Easy? Well think of McDonald's as an example. Did Ray Kroc invent the hamburger? No. But what did he do? He changed the process, made it faster, easier, and more enjoyable. He changed the atmosphere from the drive-in to the drive-thru for burger consumption.

    You're thinking legendary. That you need some absolutely brand new legendary idea to get started. Reality...you need a good idea that you can work with, market, brand, and sell. Add a new flare to an old product. Create engaging marketing. And KABLAMO, you have a strong business.

    Good ideas with strong execution will always do well. Sure, a legendary idea with strong execution will do better. But good ideas with strong execution beat the snot out of no execution nobodies.

    You can't sit and wait for years for that legendary idea to happen. And besides, if you had money and time, suddenly a legendary once in a decade idea might hit you. And then maybe, just maybe, you'll have the money and time from the first venture to finance it.
     
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  20. Tris
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  21. Merging Left
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    Merging Left Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    A lot of the advice here seems to be centered on generating ideas, mindset shifts, quick side hustles, etc.

    My advice is to pause focusing on building up a business and focus exclusively on stabilizing your financial situation. You don't have enough money for rent/food... you can't afford to start a business right now.

    Get a job. Keep grinding out interviews until you land one. Piece together a full time job via 2-3 part-time jobs. Build up a nest egg of cash that can be your safety net and initial business investment.

    Don't jump into the wild ride that is entrepreneurship when the rest of your life is unstable and uncertain. One thing at a time.