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How to find a good business idea – Ask Evan


hi I’m Evan Carmichael welcome to
another edition of ask Evan in today’s
video I’m going to answer a question
from one of my Telus talks business
readers Tarzan who wrote in asking how
can I find a good business opportunity
to start so for then that’s a very kind
of general question but a great one to
kind of get the wheels working and
thinking about ideas to start working on
I think what you should start with is
look at what you’re really passionate
about what you really love doing think
of your hobbies think of what you’re
really skilled at and where you might be
able to add a lot of value for people so
if you can cross over and what you’re
really good at and what you are
passionate about and then where you can
add a lot of value to people that’s a
big opportunity to be able to make money
once you’ve kind of figured out a couple
ideas go start talking to customers see
what their problems are see what
potential solutions you can offer them
and think about ways that you can
actually start making money from the
asset they would be willing to buy XYZ
from you to be able to help them solve
that problem I always try to find
business customers if I can at the start
because if you can show that you’re an
indispensable part of their business
they’re going to hire you back for
bigger projects and repeat projects so
you have steady cash flow coming in and
pretty significant cash flow hopefully
to help you grow that business where
consumer products or services are a lot
more difficult to to make money you have
to sell a lot of them to be able to
start turning a profit so depending on
the product or service hopefully you can
you can do that and then I always
encourage startups to keep your costs
low now don’t go out spending a ton of
money you don’t need a lot of money to
get your business off the ground it’s
not about resources is about
resourcefulness and if you can start a
service-based business so go start
talking to customers learn about their
problems invest your time and energy
into making them super happy and solving
their needs and then if you decide later
on that a product based business is for
you you have some cash flow coming in
you know you can support yourself and
you know the specific problems of your
customers and you can sell a product to
them but certain our product business
from the start can be really time
intensive
but all intensive and a lot harder to to
make a success so I hope that helps if
you liked the video please leave a
comment below I’d love to hear what your
thoughts are and if you did like it
please leave a thumbs up to i always get
happy when I see thumbs up on my videos
so i hope i’ll hear from you soon and
stay tuned for next episode
you
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