Before you even think of an idea, there are things you must be mindful of.
1. Choose an industry or sector that you will enjoy, genuinely want to help in or wouldn't mind working in.
An industry is just a collection of different pockets (markets) of people.
I was privileged to know the late Mr. Isaac Durojaiye, founder of DMT Mobile Toilets.
Choose an industry that is...
2A. Call/contact up to 100 people in that industry and ask them what their biggest problems are.
Many people won't call 100 people, because they will be lazy. They will only call 3 people, get no answers and...
Seriously, call up as much as 25 - 100 people in that industry - CEOs (as much as possible, let majority of them are the owners and decision makers), managers, staff, even security men. You'll be amazed at what you'll learn.
If they say, "Sure."
"What's the number one problem you're facing in your business right now?"
Usually, they'll tell you everything.
If they say, "No", beat it and move on to the next person.
3. Identify and Pick a "Thirsty", "Hungry" and "Starving" Audience with a SPECIFIC problem within that industry.
There are groups of people with the same specific type of humanly - solvable problems, needs, wants...
Who do you want to sell to?
Choose a market that is easy to reach out to, either on social media, and especially via paid ads.
Make sure they have money to spend.
Think about this: Coscharis isn't lining up their brand new cars at Berger Underbridge trying to get you to buy them.
The target market you choose MUST possess the willingness and ability to...
Choose a market that is always growing, meaning, as more people in it die, more are being born who will need it eventually.
4. Start Building a Highly-Responsive, Rabid, Highly-Targeted Buyer's List of people in that target market looking to solve that specific problem.
You have to...
Then send Massive TARGETED Traffic to your landing/squeeze page.
When they subscribe to your email list, then...
Another way to do this is by starting a Facebook group or LinkedIn group. Building an email though is 1,000% times better.
Now you have an idea of the pain points in the sector,you need to figure out how to solve it.
What kind of product or service can you create?
DON'T DO THAT YET.
What you do is create your OFFER.
Write it down. Then scale back to what you can actually deliver for the price you're asking for?
Present EXACTLY what your List want to ACTUALLY buy in a unique way that will get them to buy.
You see, this is last.
Amateur business owners try to do it first.
Nope. You do it LAST because it's not the most important one.
Do NOT assume that people will buy what you think they'll buy. Let them tell you what they want...
Depending on type of product/service,you can either create it yourself, partner with someone who'll create it, outsource the creation or source it from abroad if its physical.
Your business will really flourish and grow when you pay attention to what your list tells you,and you maximally use the information they give you in a unique way.
6C: Make one business profitable and have it going steady. Then rinse and repeat.