Find a New Business Venture From What You Do Everyday
In the immortal words of Gucci Mane, “All my friends are millionaires, I hangout with millionaires. Million here, million there, multi-millionaire La Flare.” Being a millionaire is held up as an ideal for many people in the world, and for good reason. Once you have a net value of about a million dollars, many stress inducing problems fade away because you have a means to solve them. What a lot of people don’t look at, however, is what it takes to become a millionaire. (I’m not talking to you Charlie. You and Grandpa Joe lucked into that chocolate factory and you know it!)
According to a few different sources Millionaires, on average, have several different streams of income, usually between three and seven. Not only is having several methods of income good life practice to keep yourself financially afloat, but it also makes great business sense. One of the biggest challenges in this is knowing where to start. How do you create new revenue streams? A lot of people think that to make a new successful business you have to create the world’s next greatest invention. Actually, you can find many successful business ventures from what you are already doing everyday.
What Are You Good At?
We all have things that we are good at, be they learned or natural skills. Are you a handy man? Writer? Tailor? Chef? Good with numbers? Market yourself out to those who could use your skills. When starting out, you don’t have to make yourself available 100% of the time. Schedule some jobs into what time you have available and build your clientele where you can.In time, and with the right market, you can have a new small business built with little learning curve or training.
What Are Your Hobbies?
Turning your free time activities into a business is a great way to make work more enjoyable. Runner or Biker? Try your hand at scheduling a 5k or half marathon. You can enrich your community and get paid for your time too. Like to fix things? Why not offer a small repair service. Artistic or crafty? Look for local art galleries where you can also promote your online store for commissions. Sometimes hobby jobs have smaller markets than service centered markets, but are a great way to turn a profit from relaxation.
What Are You Already Doing That You Could Add to or Teach?
Think about your daily, weekly, or even monthly routine. What are those habits that are so ingrained you don’t even think about them anymore? Walk your dog every day? Meal prep every Sunday? Cut and sort coupons the first Sunday of every month? Do you have the time and ability to do these jobs for someone else too? It may add a little more time and energy to the job, but if you are doing it anyway then why not get paid for it?
Is There a Service You Can Provide?
Sometimes the most overlooked solution is the most obvious and successful. Instead of looking for that something new and never seen before, offer something that has already been tried and tested and come out successful every time. Mobile car washing and detailing, landscaping, dog walking, a cleaning service a, moving service, and others jobs like these are old standards in the business world. One of my favorite Thomas Edison quotes is, “People often miss opportunities because it wears overalls and looks like work.” Doing the jobs that others won’t, or would prefer not, can be some of the best opportunities knocking at your door.
Do You Have the Ability to Work When Others Don’t?
One of the best things you can offer a customer is not a product or a service, but time. Can you do something for your clients while they are busy with other tasks? Is there something you know a better or faster method to that saves time? Making the best use of time is something a lot of people struggle with and are constantly looking for a solution. Sometimes the secret to a successful business venture is not what you offer but how you offer it. “Let me stock your fridge while you’re at work. We will bring you dinner while you are picking up the kids. Have your new furniture and appliances constructed, installed, and waiting for you when you get home.” It’s not about the service. It’s the convenience.
Imagine your business is a farm and your target consumers are a lake you draw water from. There are dry seasons and wet seasons, but in the end there is only so much water that can be used at one time. This is even more harrowing when you consider that there are similar farms drawing from the same lake. However, what if you cultivated new fields and started drawing from different lakes?
You don’t have to reinvent the wheel to find a new business venture. If you look around at what you are already doing, you can find a solution that many people are looking for. If you have any stories about when you have discovered a surprise business opportunity be sure to share it in the comments below. After all, you never know when inspiration is going to strike.