How to Come Up with a Business Idea
I’ve been in business for decades. I bought my first franchise back in college and never looked back.
Since then, I’ve launched multiple businesses, helped others grow theirs, and learned some priceless lessons along the way.
Now, I want to share with you how to come up with a business idea that not only works but fits your skills, lifestyle, and goals.
How to Come Up with a Business Idea
A great business idea isn’t one that just sounds cool—it’s one that solves a real problem, aligns with your strengths, and makes sense financially.
If it doesn’t check those boxes, you’re going to struggle, no matter how passionate you are.
Start Close to Home: Look at What You Already Know
- Look for Problems You’d Gladly Pay to Solve
The first step I always recommend: look at your own life. What frustrates you? What takes time that you wish you could outsource?
If you’ve ever said, “I wish someone else would just do this for me,” you’ve found a potential business idea.
- If It Solves Your Problem, Others Will Want It Too
Once you identify something you’d pay for, ask yourself, “Are there others like me?” If the answer is yes and the problem is common, then you might be onto something powerful.
- The Customer MUST Have the Means to Pay
This part is huge. When I was growing up, we didn’t have much money. We mowed our own lawn, painted our own house—you name it.
So even if someone had offered those services, we weren’t paying.
Choose a market where your potential customers not only want your help but can afford to pay you enough to make it worth your while.
Serving the Right Market Is Everything
- Avoid Serving Customers Who Can’t Afford You
It’s not just about need—it’s about budget.
If you’re constantly dealing with clients who pinch every penny, you’ll end up cutting your margins, chasing payments, or resenting your work. I’ve been there. It’s not fun.
- Seek Buyers Who Appreciate Value
You want clients who are thrilled that you showed up, happy to hand you a check or credit card, and maybe even want you back regularly.
These are the people you can build a business around.
Basic Execution Beats Big Ideas
- Most People Just Want Dependability
Here’s the secret most people miss: you don’t need a revolutionary idea. Just show up, do good work, and treat people well.
In one of my first businesses—house painting—we didn’t invent anything.
We just painted houses when we said we would and communicated along the way.
- Do the Small Things Right and Watch Your Business Grow
Answer your phone. Give fair quotes. Stick to your schedule.
You’d be amazed how many business owners fail at these basics. If you can do them consistently, you’re already ahead of 80% of the market.
Don’t Be the Cheapest—Be the Best
- Competing on Price Kills Profits and Peace of Mind
Never position yourself as the lowest-cost provider. There’s always someone willing to charge less. That path leads to stress, low margins, and burnout.
- Use the “Two of Three” Rule: Price, Quality, Speed
People can usually only get two out of three: low price, high quality, and fast delivery.
Offer high quality and reasonable speed, and price it accordingly. You’ll attract better clients and enjoy your work more.
Leverage What You’re Already Good At
- Turn Professional Experience into Income
If you’ve spent years doing something—marketing, bookkeeping, design—there’s a business there.
Plenty of small business owners need what you already know but can’t afford a full-time hire. That’s your in.
- Your Network Can Launch Your First Clients
Start by offering services to people who already know you in that space.
I’ve helped many people go from employee to independent consultant using this exact approach.
Turn Passion Projects into Profitable Ventures
- Personal Interests Build Credibility and Trust
Let’s say you’re into fitness and you’ve built a strong, healthy body. People notice and ask, “How do you do it?” That’s your sign.
You could offer personal training—even just a few sessions a week—and build from there.
- Start Solo, Then Build Systems to Scale
Once you’ve got clients, create standard procedures, build out packages, and eventually bring in others to help.
That’s how you go from solopreneur to business owner.
Why Performance-Based Business Models Win
- Aligning Incentives Creates Win-Win Deals
A lot of business owners don’t want to gamble on a full-time hire, but they will invest in results.
You could offer performance-based deals, like a percentage of sales generated from your marketing efforts.
- Unlocking Limitless Income Through Results
I’ve seen people make $10K in a week this way—and the business owner was happy to pay it.
Why? Because they made $20K. That’s a win-win if I’ve ever seen one.
Avoid Trend-Chasing Without Expertise
- Stay Grounded in What You Know or Partner Up
Just because something like AI or crypto is hot doesn’t mean you should dive in blind.
If you have zero experience, either partner with someone who does or skip it entirely.
- Don’t Build a Rocket When a Hammer Will Do
Some of the most successful businesses I know are built on simple ideas—dog walking, car detailing, bookkeeping. Simplicity scales when done right.
Market Yourself Authentically
- You Don’t Need Fancy Videos—Just Value-Driven Content
Start filming helpful videos on your phone. Talk about what you know. Share tips. People don’t care about production—they care about results.
- Writing a Book Instantly Positions You as a Pro
Want to become a recognized expert in your niche? Write a book. Even a short one.
I know entrepreneurs who used tools like ChatGPT or companies like Bestseller Blueprint to turn recordings into bestsellers.
Block Out the Doubters—They’ve Never Done It
- Your Success Doesn’t Need Their Approval
If your friends or family have never owned a business, their opinion only goes so far. Trust your gut. If you know something will work—and you’re willing to do the work—go for it.
- All You Need: Skills, Passion, and Belief
Combine what you know with something you love and find customers willing to pay for it. That’s the magic formula.
You’ll actually enjoy the work, and it won’t feel like a grind.
Final Thoughts: Keep It Real, Keep It Simple, Charge What You’re Worth
The business world doesn’t reward the fanciest idea—it rewards consistent execution, real value, and smart positioning.
Stay grounded in what you know, pick your market wisely, and don’t sell yourself short.
Charge enough to make it worthwhile. Cheap clients attract more cheap clients.
But great clients? They multiply. That’s how you go from just getting by to building something real—something you’re proud of.
FAQs
What’s the best way to come up with a business idea?
Start with your own life—what problems you face, what skills you have, and what people ask you for help with.
Should I follow trends like AI or crypto?
Only if you have the expertise or a trusted partner, otherwise, stick to what you know best.
Can I start a business while working full time?
Yes, many successful businesses started part-time. Build smart systems and scale gradually.
Should I charge low prices to attract clients?
No. Price based on value. Cheap clients often bring more headaches than income.
Is writing a book or making videos really worth it?
Absolutely. They build trust and credibility and help you stand out in your space.
What if people doubt my idea?
Ignore them. If they’ve never built a business, their opinion doesn’t carry weight. You’ve got this.
