- Business and Employment
Why Finding Good Money Making Ideas is so Hard
What is the Problem with Money Making Ideas?
The problem with any money making idea is that there are many ideas but each one is only suitable for a limited number of people. In the same way as you would be very selective when seeking the right person for a job vacancy, why think that a particular business opportunity lead is suitable for a mass market of 1000s?
Yet most money making ideas are sold as such - as the ideal money making opportunity and the vendor will happily take your money whether or not the idea is suitable for you or not (many money making ideas are not suitable for anybody - it must be said).
So it is up to you to decide what are the parameters for a good making money idea that will suit you.
Where do you Find Great Business Ideas?
The best way to find a great business idea is not to be looking. If you have an entrepreneurial streak, a business opportunity will raise its head, peak your interest and you will start thinking of ways to maximise the opportunity.
However, most of us do not have this ability. It is still best not to try too hard to think of ways to make money as this will lead to desperation and make you easier to be taken in by one stupid scheme after another. What is a good idea is to read...and read some more!
Research is the only way that you are going to build an entrepreneurial streak. Do not be in a rush to start the business, just enjoy the reading and build knowledge about different businesses and ways that they can be run. Within no time you will start to be drawn down a certain path and develop an interest in a certain area.
Using the example of Internet Marketing is a good one because I know that so many peoiple are drawn into this area for a number of reasons:
1. It appears to be easy
2. It doesn't need any investment
3. It can be run from home
Apart from number 3, most people have the wrong impression about ways to make money over the Internet. It is not an easy business, it takes skill and understanding to avoid wasting frutless time developing web sites that never make any money.
Internet marketing does need an investment in time and resources if it is going to make anything but a few cents or a couple of dollars a month.
However, Internet Marketing is a business opportunity that can be run from home. It could also be run from a luxury waterside villa in the Maldives, or from a ski chalet in Switzerland! Yes, I believe that the biggest attraction of Internet Marketing is the perception that you can travel and earn at the same time - and this is of course possible if you have the skill and are making the investment in time and money.
So if your interest in Internet Marketing is peaked by your research - from quality newspapers, hard back books and discussions with industry professionals (as opposed to simply "surfing" the net) - you might be in a position where you can build up skills necessary to make money in this area.
What you are trying to avoid is all the 1,000s and possibly 10,000s of apparently guaranteed programs out there all telling you the best way to make money on the Internet. These will be sold as e books at $40 dollars, courses that you can join for a monthly subscription or expensive packages of DVDs and books all telling you how to make money.
You are going to need to understand the basics of setting up web sites, choosing your niche or subject areas well and learning the principles of web site promotion to increase traffic to your site. At the end of the day the difference between you making money and not will depend on the amount of traffic that you can drive to your site and the only way to do this at the start is by putting in a lot of hard work. If you want to know the basics without spending too much then one of the monthly subscriptions is the best bet - why? - well a program that charges you something small every month must have something to deliver as you can cancel the subscription at any time.
Of course finding a suitable program is the hard part, and I would not wish to promote any particular one. Try to find somebody who can recommend a good source of basic information - any site giving away some information free is a good start.
Sources of information for your ideas
Finding the crucial information for your business opportunity idea is hard as I have noted above because it is difficult to separate the bone-fide support programs from the many down right fraudulent scams that are there to simply take your money.
The realization that whatever business idea that you come up with will need hard work should be understood early on as it will make your search a lot easier. In the case of Internet Marketing the work involves writing content for directories and back links - literally millions of unique good quality words will need to be written and that is a lot of effort. A million words a year might make you a few $100 per month - and that is like writing half a dozen novels! Help is in hand with the fact that you can pay others to do this - and this is where the second barrier to any good and profitable business idea comes in - investment.
If you want to see the potential in Internet Marketing - put something like "car insurance" into your search engine. No doubt the to results will all be from companies that "compare the market" and provide links and quotes from the insurance companies. The compare sites are all Internet Marketing companies - and the investment into such a business is no different in scale from any other large business.
Armed with this understanding, any business idea can now be looked at in a new light. Any program that tells you that earning money is easy and fails to tell you that earning even a modest income will need time and money - can be consigned to the bin.
The business idea you are seeking has to come from a desire to work in a certain field, be it Internet Marketing or landscape design. To run properly both need effort and investment. If you are looking for easy money or easy ways to earn money from the comfort of your home then you need a reality check.
That's why good business ideas are hard to come by!
A good business idea is a business opportunity that interests you for what it is - not for its potential for making you rich overnight. If you are seeking a business that is easy - forget it and work for somebody else - that is the easiest business there is! Selling your labour.
Choose a business that will suit you - then look for aspects of it that might be more profitable. Research areas that have not yet been swamped with competitors.
And remember - always keep reading, reading, reading!