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How to Find a Successful Idea

Thinks about someone you know who is always happy and radiates joy nearly all the time. Have you wondered how you can achieve a state of being that’s closer to theirs?

If you don’t think you’re as happy as you can be, ask yourself these three questions to dig deeper:

  • What would you do if you knew you couldnt fail?
  • What would you do if no one paid you to do it?
  • What makes you come alive?
  • What problem do you solve better than others?

Most of us are pondering on the one idea that we can work on that will surely be successful. But ask any entrepreneur like Primoz Boz, Darren Hardy, Ramit Sethi and others, and they will tell you that this is not the way. I did ask some of these entrepreneurs on how do I find this ONE successful idea to pursue. Primoz replied saying there is no way other than testing many ideas and then finding what sticks. This is what he said to me:

Volume is key here. Within the first year of our business, we explored 100+ business ideas. We tested about 10 with a $10k investment per idea. A few flopped completely. A few were ok (generated $2-$3k/month), but we decided to scrap/sell them because we didn’t see potential in them becoming million dollar businesses. One was a homerun (our parenting brand which will hit 7 figures shortly).

My best advice is:
-move fast, test a lot of ideas until you find one that creates massive traction
-partner with experts - you take over marketing, they provide the content - pay them for their content. that’s how you can test a ton of ideas and find a winner

Another successful author who will respond personally to your emails is Scott Oldford. After many years of successfully launching businesses, he wrote a very popular book on how to grow your business. I am not ready for the ideas in his book as I am still in the phase of formulating my business ideas.

Chuck Goetschel shared an enlightening idea:

Stop thinking of ideas and start looking for solutions and for problems to solve. Spend all of your mental energy finding and defining the problem, and then solve it.

Chuck Goetschel

Once you’ve decided on several ideas, write down the structure for each of them. To build a solid structure, write down its recipe.

At the top of an A4 paper, write the name of the project you want to start. Beneath it, write down the various categories you need to work on – products, marketing, customer, vendors, online presence and so forth. Under each of them, write down the tasks you need to accomplish. And now you have a structure you can follow instead of diving in blindly behind an idea. Find the idea where you have the best structure and pursue it.

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