The Roots of an Ingenious Business Idea

Have you ever heard of a business, and just thought to yourself, “How in the world did they think of that”? Or maybe you’ve been struck a couple of times with, “Why didn’t I think of that”? Sometimes, you wonder what could have given a person that idea, or how they turned that idea into a multi-million dollar company.

I remember hearing about this one site a couple of years ago. It was called the Million Dollar Homepage. Sound familiar? Alex Tew had the brilliant idea of selling pixels on his web page, displaying ads from different websites. How it worked, was people would buy a certain amount of pixels on his site, and he would display their ad in that space. At first, people laughed at this idea-that is, until they realized that he was cashing in big from this idea.

This idea that made its way from a notepad to a million dollar website was not an idea that was forced….it just came. He needed money for college, and the idea popped up in his mind as if it had been there the whole time, just waiting patiently for the perfect moment to reveal itself.

Every successful business started as just an idea. If you were to trace most businesses or products back to its roots, you would find that the idea was purely inspiration. A stay at home who wanted a little more relaxation decided to build the Wuvit, a microwaveable spa pillow. A college student who saw a need for a place where students can network with each other created the biggest social network ever created.

How to Come Up with a Multi-Million Dollar Idea

Many people sit for hours on end, searching for a business idea that will make a lot of money. The truth behind generating ingenious business ideas is that you just have to let it come to you. To come up with a multi-million dollar idea, you don’t have to search the web and copycat, nor do you have to search for ideas that just make a lot of money.

You have to be observational 24/7. Think about things you do on a daily basis. Creating a business should be about changing things for the better, not overflowing you wallet. Trust me, if you have a good idea and work your backside off to show your idea to the world, the money will come. The inspiration for many businesses came from tasks they don’t really like to do, like clean up dog poo or trying to keep your blanket on so you can be warm while also typing or making a phone call. Ah yes, the Snuggie-the perfect example of an ingenious business idea.

If you trace an ingenious business idea to its roots, you will find that it was just pure inspiration. Daily activities, memories, hobbies, interests-these all have the potential to become a million dollar idea. So, what’s your inspiration?

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New Business Ideas

However, for entrepreneurs there is nothing like running your own business where you have to be focused, efficient and willing to take a few risks.

In the UK, the number of people generating new business ideas and working for themselves has increased 10% since the start of the economic crisis. The number of people employed by others has fallen, as many new entrepreneurs begin to rely solely on the income from their new businesses.

During times of recession, many new entrepreneurs take up the challenge and push back against the economic struggle faced by many.

If you look back in history there have been several key times when economies have shifted, creating huge problems for some and massive opportunity for others.

So where so budding entrepreneurs look today for their new business ideas and how do they do find success? Although countless jobs have now been eliminated by technology, the internet economy has created an incredible amount of new business ideas for entrepreneurs.

It is no secret that there has been a massive shift to people buying products and services online and this continues to grow which is good news for anyone doing business online.

There has been a huge increase in the number of people starting with new business ideas and these businesses will need to have an online business presence if they are to survive.

But how do your new business ideas become reality online? There are millions and millions of websites online and all fighting for attention and the only way to survive in the highly competitive online business world is be skilled on how to use it to your full advantage.

If the best new business ideas are now on the internet, new online entrepreneurs need to learn how to set up and earn from their online businesses. There are a number of factors to consider:

Keep Your Website Updated

Your website content must be fresh and informative. Search engines like new content so you have to keep your website regularly updated. Don’t create a website and just let it sit there forever.

Generate Organic Website Traffic

This is part of your search engine optimisation (SEO) strategy and first you have to know and plan your keywords. Keywords are the words that people type into a search engine to find something on the internet. This is what potential customers will be typing into to Google, Bing, Yahoo or any of the other search engines to find products and services that you offer.

Paid Website Traffic

For you online new business ideas you will have to invest some money into paid website traffic to drive customers to your website. These methods include pay per click advertising, online banner advertising and ezine advertising.

Know Your Customer

It is vital that you have a clear understanding of who your target customer is for your new business idea and why they should buy from you rather than your competitor. After all, if you don’t know how can you expect your customer to know?

Remain Consistent

In order to maximize the performance of all of your online business you need to stay consistent, adding fresh new content to your websites and consistently maximizing exposure so you keep the momentum going.

The internet provides a huge opportunity for new business ideas. But it is tough doing it all on your own. You need to be in contact with experienced and trusted people who can help you on your way and provide guidance and mentorship when you need it.

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