How I Find $50K/Month Business Ideas
Imagine a plant that’s connected to a fitness tracker, getting water automatically every time you work out. Sounds innovative, right? Well, that’s just one of the many ideas I’ve generated as I built 24 startups. Out of these, 23 failed, and while some of them made a few hundred or even a couple thousand dollars a month, they didn’t transform my life or the lives of my customers. However, one of these ideas changed everything for me, and I want to dive into how I came up with that life-altering idea. This is the essence of today’s video.
Finding Inspiration in Unlikely Places
The weather was chill—like Chilly Willy the penguin! Meanwhile, I was sipping on a refreshing drink, contemplating the journey of entrepreneurship. You see, building startups is a wild ride. I once found myself 2 hours delayed during the Olympics in France, reminiscing about my life decisions.
Personal Milestones
On a personal note, I married my wife twice! The first ceremony was in France in 2021, and despite the excitement, I was asked to sum it up in one word. I chuckled and responded with “wild.” The second wedding took place in South Korea for family who couldn’t attend due to COVID-19. It was a cultural celebration, giving me a rare opportunity to turn off my computer for two whole weeks.
The Reluctance to Take Time Off
I typically don’t like taking time off for two reasons:
- Entrepreneurship is about making small moves, repeatedly launching startups until one finally sticks.
- My love for creating content—like videos—keeps me hooked, making it hard to step away.
Returning with a New Idea
However, after those two weeks with my family, I returned with a tiny business idea that would change my life. It took me about a week to build it, and I officially launched it last year. Fast forward to today, and this idea has generated an impressive $800,000 in revenue!
Understanding the Spark of Creativity
It’s funny; my best business idea came during a time when I wasn't even trying to think of one! This spontaneous genesis is important to highlight. There’s no definitive recipe for a successful business idea, but I’ve noticed a pattern:
- Many successful entrepreneurs stumble upon great ideas by accident.
- They often end up solving their personal problems, which resonate with a larger audience.
At times, it’s simply about playing around with new technologies that have just emerged. You have to put your work out there. Even if you don’t start with a groundbreaking idea, consider:
- Writing about something you learned last year.
- Rebuilding your favorite application just for fun.
- Sending an email to a business you admire.
- Or, if all else fails, marrying your current wife—just kidding!
Discovering Real Problems
Ultimately, trying out new things helps you uncover real problems—problems that people are willing to pay you to solve. You could very well stumble upon a successful business that you hadn’t even considered! So here I am, back from my vacation with a tiny business idea, and I genuinely hope it's the one that takes off.
Stay tuned as I continue sharing snippets from my solopreneur journey. Who knows? Maybe your next big idea is just a break away!
