Creating a profitable online business Idea! This is the very first thing any internet entrepreneur should focus on to successfully make money online.
This is the make it or break it factor to be successful online or offline. You may spend a lot of time, effort and money chasing the wrong idea. This step is the most important step. Frankly there is no right or wrong way to brainstorm ideas, there are only best practices, common sense and of course some luck. Below I will present the best practises on how to develop profitable business ideas based on my own experience and the world best entrepreneurs. Now fast forward to the good stuff.
Create a profitable online business idea by inventing something new
This is rarest and the hardest of them all SEOMoz says. Like Thomas Edison who developed many devices that greatly influenced our lives. From the motion picture camera to the long lasting electric light bulb.
If you can picture a certain product or service that would make people lives' easier, then you are on business.
• Tim Ferris Did this. The Author of the world phenomenon "The Four Hour Work Week" Where he preached to live an awesome lifestyle while putting your business on autopilot! He is a master hacker and he managed to outsource his life and his business very cheaply. He has built a huge passionate follow who are ready to help him sell or promote his products and he gives them his mind, body and soul. He gives presents, free info and help as much as he can. His blog went to rank around 6000 most visited website -among millions- in SIX MONTHS!! If you have something special, unique and awesome please do it.
Create a profitable online business idea by fulfilling a personal need
If you needs a product or a service, be certain that there are other people who are searching for a solution for that exact same problem.
Personally when I was a project manager at one of the biggest engineering firms. I had to self-study every single day and night to be able to compete and sustain my edge at that level and to deliver projects on time, under budget and at the highest quality standards. Self-learning was not easy and taking courses and workshops were both time and money consuming.
My first online business was an E-learning hub for professionals. filled with articles, audio and video training and discussion boards. I added more value by giving them assignments and research work to further solidify the learning experience and make it as practical and as close to real life as possible. I developed it further and created a membership area for different niches like: Project Management Professionals and Marketing professionals... etc. Professionals would post their most urgent questions and problems and collaborate with other on how to solve them. They would share their experience in their current projects pointing positives and well as negatives. And exploring alternative ways and solutions to try at their next project.
