Internet marketing or online marketing are the vehicles to take a business big. But first, you need a business idea.

True, you can basically copy other businesses – information marketing, for example – and do fine.

But if you want a HUGE business with a brand that stands apart from all the rest, then you need not just the same idea as someone else, but an even better idea.

Here then are 10 ways to generate profitable business ideas. Who knows – your next million-dollar business might be right underneath your nose.

1: Ask Questions

Get interested and involved in what’s going on, both around you and around the world. Read popular blogs, watch the news, and find news portals that report on the unique, odd and different. Find out what start ups are launching and see what their initial idea is.

Never stop learning. You’ll be surprised how something you read in a science magazine, for example, will give you an idea for your next information product and so forth.

2: Focus on Problems

If you can solve a real problem for people, you might just have a million dollar business. Pay attention to the problems people face in their daily lives. Talk with others to find out what’s bugging them, and check out forums to find the questions people are repeatedly asking.

Watch for problems in your own life. Is there a chore you hate doing? Can you find a better or easier way to get the same benefit, without the drudgery?

Look for anything you can improve or positively change.

3: Go on a Web Quest

Exploring the internet is not only fun, it’s also a great way to get new ideas. Go to websites you don’t usually visit on topics you know little about. Ask yourself how this might apply to a product or service you are considering.

Often times the best ideas are simply the melding of two ideas into one new solution, and finding the inspiration could be as easy as surfing the web.

4: Become a Traveler

There is something about travelling to new places that inspires your creativity and helps you generate new ideas. I know some of my best ideas have come on the plane ride home from a trip, thinking about everything that I experienced while also making mental notes of what I need to do when I get back to work.

The two – travel and work – seem to meld into new forms and ideas, and pretty soon I’m feeling so creative, I have to grab pen and paper just to hold all the ideas before they flit away.

5: Carry a Notebook

Speaking of writing things down, always carry an old-fashioned pocket notebook and pen with you. Or if you are truly resistant to the notebook, then take notes on your phone. Either way, make it a habit to immediately write down new ideas and you’ll find you become an idea machine.

One note: Do not judge your ideas when they come to you. Rather, just write them down so you don’t lose them. Later, you can better judge if a particular idea is any good. But if you judge ideas as soon as you have them, new ideas will become scarce.

6: Build a Mastermind or Network

Having plenty of people you can turn to for ideas can be a tremendous help. It’s said that two heads are better than one, and it’s true. Two people working together can come up with twice as many ideas as two people working alone. And just imagine how many ideas an entire mastermind might have?

Better still, having knowledgeable people you can turn to is a priceless resource. That problem you’re having? You might spend six months trying to solve it on your own. But if you have a friend who had the same problem, or knows someone who did, you can get your solution in minutes.

7: Do Something New

A great way to inspire creativity in yourself is to do something brand new. When we engage in a new activity, all of our senses are engaged, too, and our mind is paying full attention and making new connections.

And with these new connections can come new ideas. Not to mention the fact that sometimes it’s just plain nice to get away from your usual thoughts and focus on something entirely different. When you do go back to your brainstorming and idea generating, you’ll feel refreshed and rejuvenated.

8: Practice, Practice, Practice

Perhaps the best way to become an idea machine is to write down ten new ideas every single day, regardless of whether or not you feel like it.

The habit of continually finding new ideas can exercise your ‘idea muscle’ and earn you a reputation for problem solving and innovative ideas.

9: Focus on Making Life Easier

People love things that simplify their lives. As you go through your day, continually ask yourself what takes up your time, how can you make it faster or easier, and how you simplify things for the better.

If you can offer people convenience and save them time, you likely have a winner.

10: Combine Random Words

Let’s say you’re looking for the hook for your next book. The book’s topic is Publishing on Kindle, but of course there are already lots of books out there on that very topic.

Here’s what you do: Take a list of random words. Perhaps you use one of the online random generators to do this, such as this one:

The random objects that come up are (for our example) a purse, a banana, a key chain and packing peanuts.

Combining each one with your idea for a book on Kindle Publishing, you come up with these possible (and sometimes silly) angles for your book:

• With this book, you’ll make so much money on Kindle you’ll need a bigger purse to carry it in
• This book makes Kindle publishing so easy, a monkey could do it (banana)
• Your book is the KEY to (benefit) (benefit) (benefit)
• You’re packing so many secrets in this book, it’s likely to explode the moment you open it.

The more you use these techniques to generate ideas, the better you’ll get. And you’ll surprise yourself with just how creative you become, too.

To your continued success

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    1 Response to "10 Ways To Generate High Profit Business Ideas"

    • James Utterson

      Hi Peter,

      Some great ideas, but the stand-out one for me is ‘Focus on Problems’

      I’m sure there is a graveyard somewhere with thousands of products that were created without any thought given to whether anyone actually wanted, or need it.

      As you say, if you find out what people’s problems are, and THEN create the product you know your market already exists.

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