1008. 5 Ways To Come Up With A Business Idea

I’m sharing five ways to come up with a new business idea or build on the dream that you already have. There are a few simple ways you can use your daily routine to see what’s missing in the market, which is usually where I start when I’m thinking about launching a new product or service. I also get into why brainstorming with other people is super effective for coming up with ideas and share a strategy that I like to do with other entrepreneurs I’m collaborating with.


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Episode Timeline & Discussion Questions

(0:25) Welcome back to Earn Your Happy.

(2:54) Lori summarizes the five tips for coming up with new business ideas. 

(3:42) Tip #1: Identify a problem or a need in the market and find a solution.

(4:43) Tip #2: Leverage your skills, experience, and expertise to figure out how you could create something unique. 

(5:42) Tip #3: Look at the trends and see how you could make them better and capitalize on them.

(7:47) Tip #4: Brainstorm with friends, family, and other entrepreneurs. 

(8:27) Tip #5: Think about your hobbies and passions and see if there's a business opportunity there.

(10:09) Lori highlights the science behind why brainstorming and collaboration works for coming up with ideas. 

(12:32) Lori asks listeners to share the episode with a friend and review the show wherever they listen to podcasts.