Finding Money-Making Opportunities
Every business enterprise, big or small, starts as
a single thought in the mind of the entrepreneur.
Ralph Waldo Emerson once said, "There is no prosperity…
or great material wealth of any kind, but if you trace
it home, you will find it rooted in a thought of some
individual." We might rephrase Mr. Emerson's words
this way: Nothing in business happens until someone
has an idea.
Where Do Entrepreneurs Get Their Ideas?
Most entrepreneurs practice the habit of watching
for money-making ideas everywhere they go. They are
always on the lookout for opportunity.
The dictionary defines opportunity as a
time or occasion that is right for doing something
— a good chance. So young opportunity seekers
are looking for times or occasions that are right
for earning money.
Looking for opportunity is not something you do just
once. You make it a habit. If you are willing to practice
a little, you can become very skillful at recognising
opportunities other people don't see. After a while,
you will begin to recognise opportunity everywhere
you go.
How to Find Money-Making Ideas
- Look for things
people are too busy to do. We live in a
busy world. People don't have time to iron shirts,
polish furniture, paint fences, bake birthday cakes
or decorate for holidays. Look for services that
will give your customers more time to enjoy life.
- Look for things
people don't like to do. Everyone has chores
they hate: washing windows, pulling weeds, cleaning
the oven, bathing the dog or organising cupboards.
Specialise in taking care of a job no one likes
to do and you will always have plenty of customers.
- Look for things
that get dirty over and over. Almost everything
gets dirty: cars, pets, clothes, kitchen sinks,
windows, floors, bathrooms. Cleaning is a money-making
opportunity that can never be used up.
- Look for things
people throw away. Outgrown clothes, toys,
books, puzzles, games, household items and recyclables
are great for car boot sales, used book sales or
recycling projects. These money-making enterprises
are good for our environment and our communities.
- Look for ways to use your special talent
or experience. Create your own business
based on something you do well. You might start
a music group, give dog obedience lessons, teach
a foreign language or specialise in helping the
elderly. Getting paid to do something you enjoy
is like getting paid to have fun.
How to Capture Opportunity
Richard Branson and Alan Sugar are famous entrepreneurs
today. But at one time they were young people sitting
in a classroom wondering what they were going to do
in the future. Their businesses started the same way
— as a single idea in the mind of the entrepreneur.
They eventually earned millions with their ideas.
But who's to say you won't have an idea that's just
as big? It's possible!
As an enthusiastic young entrepreneur, you may have
hundreds of ideas for starting a business. It is very
important that you develop the habit of capturing
your ideas in writing.
Click
here to download a form you can use to start your
Master List of Money-Making Ideas. Then start looking
for the five signs of opportunity everywhere you go.
As you spot these opportunities, write them on your
list.
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