how to find a profitable business idea

You have multiple skills and you feel like an entrepreneur. You dream of creating your own business and getting started, but you certainly have ideas, but those that come to mind seem utopian. You have no idea? It is true that it is not always easy to find a profitable business idea…

Find the right idea

Not necessarily ambitious, a business idea must be valuable if you want it to become profitable. Your idea does not have to be a revolutionary idea. In addition to the nature of the idea, the success of your project and its viability, materialized, depends on what you do with it…

Better an idea less good than another but which you make the effort to transform into a profitable idea, than an innovative idea that you do not really exploit. Before Facebook, networks already existed…. Meetic is not the only dating site… Just like Google is not the one and only search engine that exists… And Coca-Cola, do you think it’s the only soft drink on the market?

To sum up, there is no real need to create a major innovation in a given field. Sprinkled with a zest of originality, a cocktail of will and perseverance is required to make an idea THE good idea.

Listening is a sine qua non!

Listen up! Being attentive and listening to others has a didactic significance. Your entourage is an opportunity that should not be overlooked. Your ability to listen to them, analyze and understand their problems is paramount. It makes it possible to identify the nature of a need, and therefore to anticipate an effective demand. You could propose an idea in line with their problems, and indirectly their request, offer them your help by providing solutions (product, service). To do this, it is obviously advisable to identify a recurring problem, that is to say, which you often hear about and which causes problems for many people around you. If this is the case, there is a good chance that this problem is also recurrent among the population.

Ask yourself if people are willing to spend money on your product or service, if they search the Internet for a solution to their problems, if your potential future customers have many other solutions them to solve their problems.

Scrutinize the innovations

Observe around you, but on a larger scale. In terms of innovation, some countries seem more advanced than France. This is particularly the case of the United States or Japan. Import a concept from abroad and revolutionize France. For this, you must rigorously keep yourself informed of all new business ideas, all over the world. Focusing on one or two countries on which many people are already focused, an idea but opening it up to 195 countries could give you 195 ideas!!!

Look for improvements

You can also start from an existing idea and foresee an improvement policy. An innovative product is already present on the market but is not easy to use or seems, after reflection, not to be completely successful. You think you can improve it, get started! Keep in mind that many companies innovate a product. But a considerable number of companies strive to improve an already innovated product by analyzing its evolution prospects.

It goes without saying that to create a company around your business idea, you have to be motivated. Why not simply find a business idea around your or one of your passions. What could be more fulfilling than building your business around a project that is really close to your heart.

Buy an idea

Can’t find an idea? Buy it! Today there is an online platform (like Inventive) set up by an innovative start-up to submit an idea and sell it. So you have the opportunity to buy an idea. You are allowed to test its economic potential.

From a technical point of view

Finding an offer idea that is profitable goes through certain criteria. In addition to standing out from competitors, it is imperative that you ensure that your idea is not only feasible, but also viable. To do this, you need to develop your marketing strategy.

Start by thoroughly defining your activity, your field of activity, the exact nature of your product and/or service.

Then, define your customers, that is to say your target, as well as the type of offer you will offer. The idea is to offer a product and/or service that meets a demand. This assumes that the demand is pre-existing. It is therefore not a question of creating demand but simply of responding to it. You can try to create a demand but it presents much more risks, you are not sure that it works with your target. To be sure to meet consumer demand, you obviously have to ask them. For this, you can carry out polls, surveys, etc. You can use brainstorming sessions to gather feedback from your team.

Some ideas …

Coaching for personal development, online accounting, restaurant/fast food, dating site for seniors, independent home seller, communication agency, domain name brokerage, sale of technological devices, writing and referencing of sites, care express aesthetics, organic cosmetics, tourist guide, talent producer, property renovation, sale of specialized sports equipment by discipline, car and motorcycle rental, sale of luxury products on the internet, training services, sale of photos on the internet, lingerie and fashion, animation of blogs and forums, childcare articles, graphic design and printing, sale of an e-book, … And many more! What to do to finally get started…

Finally, build your business model. It is a question of analyzing your sales technique, the way in which you intend to go about selling your product and/or service. You must refer to a detailed analysis in relation to costs and revenues (suppliers, customer service, distribution, forecast turnover, etc.). This step is essential to setting up your profitability system.