We have full-time jobs. We work 9-6 (or more on some days). We are busy.
But, what if you can earn an extra income in your spare time? What if you make an additional 25K apart from your regular income?
And let’s take it even further — what if now you have 2 income sources (one from your full-time job, and another from your part-time business), and you decide to quit your job and go all-in on your side-business to make it your own full-time business?
How would that feel to you?
Financial freedom? (No more worrying about finances, there is a steady stream of income every month)
Flexibility and independence? (No more commuting to work everyday and spending hours and hours. You decide when to work, who to work with, and where to work)
Today, I’ll share
- How a simple looking idea made me 25K as an additional income
- How you can find these profitable business ideas, right from sitting in front of your laptop
- The 1st step to getting started in starting your own business
The idea which makes 25K on the side
The idea: Content writing
Target audience: Digital marketing agencies
Revenue earned: 25K on the side, every month
On the surface, it looks very OK. Yet, if you have a good enough idea, and find a group of right people, who are ready to pay — congratulations, you have a reliable source of an additional income.
How to find profitable business ideas — Use the 3-Detective Questions technique
I get this question a lot — “Zubin, I want to start a business. But, how do I find a business idea?”
The interesting thing to understand is — business ideas will never come falling from the sky. Instead, finding ideas is a process.
And when you treat it this way, that to find ideas, I have to go through a process, everything becomes much much easier.
So, let me share a proven time-tested process with you to find multiple ideas immediately.
It’s a simple technique that will allow you to come up with at least 10 business ideas in 15 minutes.
I call it the 3-Detective Questions technique. So basically, all you do is ask yourself 3 questions, which are:
1. What do your friends and family ALWAYS compliment you on?
The other day, I got a whatsapp text from one of my friends. “Zubin, I love how you conduct coordinating and managing people”
Hmm..interesting. Now, that’s an idea right there. I can do so many things with this. Let’s see. I can:
- Arrange and host events
- Do small group workshops on leadership and people management
- Conduct games, quizzes, tournaments
So, the key point here is to list out all the things which your friends compliment you on? What are they?
Do you always get good praises for creating excel spreadsheets and categorizing data?
Or maybe people like you for your expertise and knowledge in buying/researching cars?
List down all of them here.
2. What do your friends struggle with, that you find VERY easy to do
Again, let’s list down all the things which people in your network struggle to do, and which you find effortlessly easy to do.
What are they?
Do you cook faster or tastier? Do you make travel planning super-simple? Or do you do graphic designing beautifully?
Put it down all together.
- What would you do if you had three extra hours everyday
I love this. We all naturally love to do things in our spare time. Yet, we never get a thought of what we would do if it were a business.
So, let’s say it’a a perfect Sunday morning.
You wake up. Do some stretching. Brush your teeth. Finish breakfast. Do some talking with family. Watch some news.
Now what? What do you do? You are inclined towards something. So, what is it?
Let’s find out
- Do you read finance newsletters?
- Do you watch youtube videos on how to learn website development
- Do you engage in yoga or meditation?
Again, the key here is to get your creative juices flowing and write as many ideas you can.
Use the 3-Detective Questions technique, and you get a list of minimum 10 business ideas right in front of the table.
All your other questions, like “how do I know if my idea is profitable?”, or “what if there is too much competition already?”, or “what if I’m not an expert?” come later.
We will handle all of that, so don’t worry.
Right now, the single most thing which we are going to focus on is finding an idea.
Validation. Testing. Finding demand. Getting paying clients. All these come much later.
About Progress and Win:
After his 5-year stint in the USA, Zubin Ajmera returned back to India. He’s a Marketer, Founder of 2 online businesses, and started Progress and Win, a site where he helps working professionals and beginner bloggers start an online side business from scratch, using tested techniques and strategies.
Unlike other digital marketing “gurus”, he believes in a strict “no-B.S” approach, has been covered on Entrepreneur India, YourStory, worked on a book with the author/CEO, and featured on other brands.