What are some profitable business ideas to start in a small town? #business #loans
#profitable business ideas
you can have the best idea in the world, but if people don t care. you won t make a dime!
i m in a facebook mastermind group, and i asked what stopped everyone in the group from starting their own business, and most of the responses were.
i have no idea
my friend had a difficult time starting his business. he kept complaining to me how he doesn t have any good business ideas. he was waiting for the perfect idea to fall on his lap.
so i told him to not wait for the perfect idea. just start with a boring idea that has DEMAND.
so i gave him my 5 day business formula to find an idea, test demand, and get people to send him money.
he applied my formula, and in 5 days he got 5 sales. with no product, and no website! he just posted on facebook and got 5 people to send him money.
he applied it in other areas as well, and it also works! it works for online, offline, physical products, or even local services.
he finally realized that at the end of the day, its not about finding the perfect idea. its about starting with a boring idea and test if there s demand — test if people are willing to pay for your idea.
you can have a perfect idea, but if there s no demand. it doesnt matter. it will never take off!
you dont need to start a HUGE company like google or facebook on day one! just start something small. and then slowly grow from there.
the 5 day business formula is something that i ve used before but have never thought about teaching to anyone. it s something similar from the lean startup and the startup weekend methodology where you build a minimum viable product. except that my process doesn t involve building a product or even a website. you use what i call lightweight testing to test your idea without investing alot of time or money into it.
i ve used it to test a local food delivery service, web freelance service, and other types of businesses and product ideas.
its a useful way to test your business idea without spending any money or time on building a product, or a website.
it goes something like this:
1. brainstorm a list of ideas. a minimum of 20 ideas is good. it doesnt matter if its a good or a bad idea. at this stage, you re just listing down all kinds of ideas. (ideas are all around you. see what products people are currently buying.)
2. afterwards, you do some research. is there demand for your idea? you can talk to people, do kw research, or use my eavesdropping technique. http://www.hustletothetop .com/ge.
3. if there s no demand, you go back and choose a different idea from your list and test it again until you find an idea that has demand.
4. if there is demand, you simply get people to pay you money to validate whether your idea is something that people are willing to pay for or not! its not enough that people say yes . see if they pay! it doesnt even have to be the full amount. if they pay, then you have a validated business idea.
5. then you manually deliver the product or service. if you dont have a product, you do dropshipping.
6. once you have a validated idea — ie. 3 to 10 sales — that people are willing to pay for. then you reinvest your profits into the business — build a website, etc — and create systems to automate and systemize your business so that the business works FOR you.
thats just the gist of it. you can use it to start a niche online business, or a local offline service business to earn some money on the side.
1. ideas are worthless. it s all about execution and demand! dont waste time waiting for the perfect idea to fall on your lap. just start with a boring idea and test if there is DEMAND. at the end of the day you ll make more money with a boring idea that has demand, instead of chasing after the mythical perfect idea that will never happen.
2. you dont have to start something new. just copy what other businesses or products that are already selling well. customers pay for products or services that solve their problem. they dont pay for you to have a unique business idea.
3. if you cant beat them, join them. instead of working against your competitor, why not work together. they already have the hot selling product. just help them to sell it while you split the profit. that s how i first started my online business in the tourism niche.
The last part of your question start in a small town creates the impression that your physical location is a determining factor in your choice of business ideas.
With the technology we have available today you can stay in a small town, however, and access a global market – serving customers who do not necessarily live in or visit your town. This opens more opportunities that definitely can be more profitable.
One business idea is to sell software solutions that will help people work smarter instead of harder.
In a related post you will see the reasons why you do not need technical knowledge, a technical team or up-front capital to pursue this business idea.
You can focus all your efforts on marketing existing solutions and/or you can create your own solutions.
Practical steps you can take:
- Find an itch in the market that needs scratching . This is the key success factor and it will determine the probability of achieving success. If you can identify a need and solve it, well, then you are in business.
- Create (or clone) a simple yet effective solution for this itch .
- Market your solution. The better your solution scratches an itch , the easier marketing should become.
This business will require some effort up-front, but after selling your first solution you ll start earning recurring income – without much additional effort.
Plus, you can stay in a small town with all the benefits of a close-knit community without being restricted to their spending potential.