How to Start a Business

Even before you find a niche, you need to decide what type of online business you want to run. Would you like to develop a SaaS? Or an e-commerce store? Or drop shipping? Or do you want to be a paid influencer? I’d start here. First, ask yourself what you want to sell. This will depend on what you’re good at. The path to going live is different for everyone.

Next, figure out your niche. This will depend on the problems you want to solve and/or the things you enjoy doing. It’s important to solve problems that you have a good understanding of.

Then chart your path to solving the problem: figure out what technology you need, what the first iteration of your product will look like and what skills you need to hire or partner with.

How to evaluate good business ideas

Ideas are everywhere and are constantly being born, whether randomly or not. This doesn’t mean that we should allocate our valuable time and money to everything straight away.

Good business ideas need to follow a specific pattern, and they must fulfil all three criteria to be worth your time and money. Let’s review the three features that ideas need to have.

Does your idea check all 3 checkboxes?

Unique

Your idea must be unique. You need to make your project stand out from the countless similar ones already on the market. This could be an additional feature, such as accepting more payment methods, or a 24/7 automated support system. Before you start, all of your energy should solely go into this brainstorming topic, do not neglect otherwise you’ll die like the others.

Scale

There are only 24 hours in a day. Your project needs to be able to scale effortlessly to an infinite level. In order to achieve this, you shouldn’t have to hire any new VAs or introduce any new features to your solution. If generating new sales requires a large amount of human input or support, your potential for growth would be extremely limited.

Autopilot

Your project should be fully automated. This means that your support should be primarily bot-based. Try to automate responses to frequently asked questions, replacements and promotional coupons. The more efficient and automated your business functions are, the more time you will have to focus on achieving strategic goals, such as forming partnerships and finding new ways to promote your business.

How to brainstorm ideas

Define the problem you want to solve

First, identify a problem that needs to be solved. It should either help people to make money or save time. Which problem currently costs people a lot of money and time, for which there are only outdated solutions? Ideally, you should be familiar with the problem, having experienced it personally, so that you know best what it’s all about.

Research existing solutions

Now that you have identified the problem, you need to research the solutions that people are already using. Are these tools slow, difficult to use, or outdated? Do they accurately reflect the current state of the problem? How many solutions are available? If there are many, the market may be saturated. If there are none, it may not be worthy of your time.

Brainstorm differentiating features

Now that you are familiar with the current solutions, their limitations and issues… What features are missing for a new solution to be faster, better and easier to use? Talk to as many potential customers as possible to find out what they would like to see in a new solution. What do they like and dislike? This will help you focus your time and money wisely.

List of new, disrupting ideas to choose from

Now it’s time to bring all your previous research together. This is when your ‘aha!’ idea will come. Focus your energy, time and money wisely. Don’t take on too many new projects at once, or you’ll miss your targets and burn through your budget more quickly than expected. Remember, this is a marathon, not a sprint, and you’ll need to surpass your competitors.

Good Ideas vs Bad Ideas

Bad Ideas

Exact Copies – Creating exact copies of the product, saas or service that is already out there is a no go in most cases.

Human Input – Human time ≠ scalable. If your business depends on you (or employees) doing repetitive tasks, growth = hiring more people > higher costs, lower margins.

More people = salaries, training, management overhead.

Based only on your own thoughts – Businesses based solely on your own thoughts fail because they lack market validation you risk building something nobody wants. Without customer feedback, you miss real pain points and waste time on unprofitable ideas.

Extremely expensive – Ideas that are extremely expensive are risky because they require a high upfront investment with no guarantee of market demand. They also limit your ability to adapt or make improvements quickly if the product fails, using up resources before its viability can be proven.

Good Ideas

Scalable – Scalable ideas are great because they let you make more money without working more. For example, a software app can serve thousands of customers with the same effort as serving ten—unlike a service business where more clients mean more work.

Unique – Unique ideas are good because they stand out in crowded markets, making it easier to attract customers and charge premium prices. They also face less competition, giving you more room to grow and dominate your niche.

Autopilot – Autopilot ideas are great because they make money while you sleep, freeing up your time for other projects or life. They also reduce daily stress since they don’t rely on constant hands-on work to keep running.

Most Imporant thing you will have to hear

What do most people search for in a product? Most of them look for best features and cheapest price, if you can be cheapest on the market you can always score some cash even if it’s exactly same service that others are offering, but remember most important thing will always be MARKETING. Good marketing and solid product will always win against bad marketing and amazing product, for example Mailchimp which is mediocre at best mail saas beats most of the competition because of their great marketing strategies, they made super easy and good looking templates for WordPress, they have probably partnered with CodeCanyon as any wordpress theme you buy will have forms that are exclusively for Mailchimp, I reckon most of their customers came this way as well, which most mail marketing platforms don’t even know, it’s a prime example of better marketing winning against better products with better prices, don’t get me wrong, great product/tool/service with solid marketing will still do super good, design itself alone can captivate a solid chunk of people, great fuctions, solid design and great marketing will always be the best combo, if you have a saas, make sure you are cheaper than your competitors, that you have easier to use dashborad, that you have better support, that you have better documentation, that you have better and diffirent functions, finding a solution that no one else has will give you huge edge even if they later on find it too, this goes even better if they can’t find that same solution that you did.

If you have a product, let’s say it’s an e-book, make sure it’s price is worth the value inside, make sure you provide those people even more value for free, if they find so much free value on your blog, free e-book, youtube channel, twitter profile, instagram account then you will definitely have huge conversion rate, whatsoever people who just discover your content will be way more likely to buy your product.

So let’s confirm for this article your priorities: 1. Marketing, 2. Functions, 3. Price, 4. Design, if you want some support you can join either of our discord/telegram chats, good luck.