Author Topic: Where to find inspiration for business ideas  (Read 1123 times)

brian313313

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Where to find inspiration for business ideas
« on: March 04, 2017, 10:56:28 AM »
I would like to start a business and leave the work-for-pay paradigm of a salary and/or consulting. For the last 20 years, I've switched between salaried employment and independent consulting. Technically consulting is my own business but I'm looking for something that is not limited by the time I can put in. I am good with technology and enjoy it so I'd like leverage that into some sort of business. I'm not trying to start the next Amazon or Uber. I have some capital and could take time off work. I'm just short of ideas. Google helps me find tons of articles about tiny businesses and things to start up on a couple hundred dollars but that's not what I'm looking for.

Does anyone have any ideas on where I can get inspiration? When I was in my 20s, I had plenty of inspiration but no capital to do anything about it. Now I'm in the opposite boat. I'm looking to do some research and don't quite know where to start. Books would be fine but I need some specific recommendations because I'm about 5 books in and they're all focusing on the shoot big thing and I don't need that much money.

My primary motivation for this is to bring life back into my career. The first ten years were great because I was climbing and having a lot of successes. Now I'm "there" but after 10 years, I need to move on. It's not that it's terrible, but I'm pretty bored and looking for a new challenge. The business option is really the only way to step up from here. Salary-wise, I can't really go up without going into management and that is not appealing to me at all. Technology-wise, I'm in one of the top 10 high-demand, high-pay jobs so learning a new technology would just be going sideways into the same thing.

Thanks for any suggestions or perhaps a recommendation of another place I could post this question.

bwall

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Re: Where to find inspiration for business ideas
« Reply #1 on: March 06, 2017, 04:20:11 AM »
Lots of ideas here:

http://www.jamesaltucher.com


brian313313

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Re: Where to find inspiration for business ideas
« Reply #2 on: March 06, 2017, 04:02:12 PM »
Lots of ideas here:

http://www.jamesaltucher.com

Thanks. I'm checking that out. I also, found a subreddit forum dedicated to this.

VladTheImpaler

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Re: Where to find inspiration for business ideas
« Reply #3 on: March 06, 2017, 04:25:06 PM »
Binge watch Shark Tank? 😂
"Everyone has different tastes and desires. These differences make the world orderly. If everyone wanted the same things, we would all be struggling against each other to acquire what little was available. Diversity is the source of harmony in human relationships."

-Harry Browne, How I Found Freedom in an Unfree World

CargoBiker

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Re: Where to find inspiration for business ideas
« Reply #4 on: March 07, 2017, 10:41:19 PM »
Think about the 5 things hobbies that you spend the most money on every year.

Do a deep dive into these 5 things and think if there's anything that would help you do X.  Maybe an improvement that could be made to a product. Maybe an easier way to accomplish X.  Something that would eliminate X frustration.


Or, you can try listening to the people around you.  Anytime you hear someone complaining, that's an opportunity.

Identify pain points. Find needs.   Then come up with a solution.

ChpBstrd

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Re: Where to find inspiration for business ideas
« Reply #5 on: March 10, 2017, 04:08:29 PM »
I hope you become a millionaire solving the following problems for me:
1) I have to drive an expensive car to an expensive building to work on the same kind of computer and internet service I have at home. Why? Because effective management software doesn't yet exist.
2) I don't know enough about electricity to buy a matching solar panel and window AC unit that would work together on hot days to cool my house for free.
3) It takes 145 seconds for hot water to reach a faucet and shower in my house, but I don't want to spend thousands on a point of use water heater.
4) The toddler won't sleep.
5) The transaction costs for real estate are way too high. Someone needs to create a corporation that holds your property in a legal shell that can be transferred to a buyer for just a few hundred dollars, like a stock transaction, but tied to specific properties, cutting out all the fees and middlemen.
6) Can't figure out an easy way to pay off one rewards credit card with another rewards credit card.
7) One must wash dishes before putting them in the dishwasher.
8) Certain things are not sold in bulk, like gluten-free noodles.
9) It's hard to find historical charts for stock options.

brian313313

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Re: Where to find inspiration for business ideas
« Reply #6 on: March 11, 2017, 02:07:29 PM »
2) I don't know enough about electricity to buy a matching solar panel and window AC unit that would work together on hot days to cool my house for free.

Something like this is on my list of ideas. It's a great idea to just use it for the AC though to power it on sunny days. Thanks.

bwall

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Re: Where to find inspiration for business ideas
« Reply #7 on: March 12, 2017, 10:34:22 AM »
I hope you become a millionaire solving the following problems for me:
1) I have to drive an expensive car to an expensive building to work on the same kind of computer and internet service I have at home. Why? Because effective management software doesn't yet exist.
2) I don't know enough about electricity to buy a matching solar panel and window AC unit that would work together on hot days to cool my house for free.
3) It takes 145 seconds for hot water to reach a faucet and shower in my house, but I don't want to spend thousands on a point of use water heater.
4) The toddler won't sleep.
5) The transaction costs for real estate are way too high. Someone needs to create a corporation that holds your property in a legal shell that can be transferred to a buyer for just a few hundred dollars, like a stock transaction, but tied to specific properties, cutting out all the fees and middlemen.
6) Can't figure out an easy way to pay off one rewards credit card with another rewards credit card.
7) One must wash dishes before putting them in the dishwasher.
8) Certain things are not sold in bulk, like gluten-free noodles.
9) It's hard to find historical charts for stock options.

Those are all great ideas. The person who can solve those problems has the opportunity to make a staggering amount of money.

HipGnosis

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Re: Where to find inspiration for business ideas
« Reply #8 on: March 12, 2017, 01:18:17 PM »
Lots of ideas here:
http://www.jamesaltucher.com
Thanks. I'm checking that out. I also, found a subreddit forum dedicated to this.
Link please

brian313313

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gaja

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Re: Where to find inspiration for business ideas
« Reply #10 on: March 12, 2017, 04:56:23 PM »
I hope you become a millionaire solving the following problems for me:
1) I have to drive an expensive car to an expensive building to work on the same kind of computer and internet service I have at home. Why? Because effective management software doesn't yet exist.
2) I don't know enough about electricity to buy a matching solar panel and window AC unit that would work together on hot days to cool my house for free.
3) It takes 145 seconds for hot water to reach a faucet and shower in my house, but I don't want to spend thousands on a point of use water heater.
4) The toddler won't sleep.
5) The transaction costs for real estate are way too high. Someone needs to create a corporation that holds your property in a legal shell that can be transferred to a buyer for just a few hundred dollars, like a stock transaction, but tied to specific properties, cutting out all the fees and middlemen.
6) Can't figure out an easy way to pay off one rewards credit card with another rewards credit card.
7) One must wash dishes before putting them in the dishwasher.
8) Certain things are not sold in bulk, like gluten-free noodles.
9) It's hard to find historical charts for stock options.

The person who solves #4 will get sainthood and a Nobel price.
Travelling southern Norway, Iceland and the Faroes in an electric car: http://travelelectric.blogspot.no/

mires

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Re: Where to find inspiration for business ideas
« Reply #11 on: March 12, 2017, 06:46:02 PM »

3) It takes 145 seconds for hot water to reach a faucet and shower in my house, but I don't want to spend thousands on a point of use water heater.

Aftermarket recirc pump. Costs less than $200 at Menard's and installs on your water heater. Instant hot water throughout the house and can be installed DIY. You're welcome.

bwall

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Re: Where to find inspiration for business ideas
« Reply #12 on: March 12, 2017, 07:24:22 PM »

3) It takes 145 seconds for hot water to reach a faucet and shower in my house, but I don't want to spend thousands on a point of use water heater.

Aftermarket recirc pump. Costs less than $200 at Menard's and installs on your water heater. Instant hot water throughout the house and can be installed DIY. You're welcome.

By the time you include the cost of installation and operation of the pump and additional water heater usage, you are looking at the same cost as OP mentioned.

CargoBiker

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Re: Where to find inspiration for business ideas
« Reply #13 on: March 14, 2017, 01:57:14 PM »
The person who solves #4 will get sainthood and a Nobel price.

Google "toddler alarm clock".  There's a patented product out there making an absolute killing on this pain point.