Find Your First Profitable Idea Mini-Course: Lesson 2

The Overnight Business Idea Generator

Every 6- and 7-figure business starts with an idea. In this lesson, we’re going to find yours. It doesn’t matter if you don’t have any ideas yet — or have too many of them. We’ll show you exactly how to handle both.

By the end of this lesson, you’ll have a list of at least 20 — YES, 20 — ideas that could potentially turn into a profitable business.

TODAY’S EXERCISE: Take time today to come up with at least 20 “nuggets.” You can use the following questions as prompts to guide your brainstorm:

  • If you had an extra 3 hours free this weekend, what would you do? (e.g. cook, organize your closet, read books on coding)
  • What do other people struggle with that comes easily to you? (e.g. finding time to work out, writing great cover letters)
  • What skills have you developed? (e.g. writing emails, public speaking)
  • What knowledge have you acquired, whether through school, on your own, or on-the-job training? (e.g. audio engineering, auto repair, marketing)
  • What are the biggest challenges you’ve overcome? (e.g. chronic indigestion, waking up early, dressing poorly)
  • What problems do your friends ask for help with? (e.g. planning trips, relationship advice)

Tip #1: Remember, the first step of this process is to silence your inner critic. Write down every idea that comes up, regardless of whether or not you think it could be a good business idea. That part comes later!

Tip #2: If you get stuck on any of these, one of the best things you can do is just ask your friends. Text them! Your friends often see hidden skills and accomplishments in you that you don’t notice.

BONUS EXERCISE: Filter your list of ideas down to just the best ones.

To do this, use the Pay Certainty Test. For each nugget you wrote above, ask yourself:

  1. Do people have the ABILITY to pay? Do they actually have money?
  2. Do people have the WILLINGNESS to pay? Do they want to pay?

For example, I love ironing. Could I start a business that helps people get better at ironing? Let’s see…

  1. Do people have the ABILITY to pay? Probably, yes. It passes test #1.
  2. Do people have the WILLINGNESS to pay? No! No one is going to pay me to learn how to iron.

It’s not enough of a burning pain. This fails test #2.

Put each of your nuggets through the Pay Certainty Test. When you come up with a no, cross that nugget off.

When you’re done, congratulate yourself! You’ll have already made more progress on your business than most people accomplish in years of daydreaming and trying to “figure it out” on their own.

What's coming next…

You can review Lesson #1 here: The magic of being paid to do what you love.

In Lesson #3, you’ll be able to watch as I coach a real student through this process.

And on Monday 3/20 at 8pm Eastern, I’m capping off this free mini-course with a live class all about 6-figure business ideas. You’re already registered. I’ll email you the link on Monday morning.