Get your thinking cap on …
Do not put any limitations on the ideas you can come up with, explore different avenues as much as possible- even if they've got nothing to do with your passions. I know this may seem a little contradictory, but when you first start to think of ideas, it's challenging, and so you want to be as open as possible at the beginning.
Thinking of ideas seems like a fairly easy and straightforward thing to do, but in reality it's not. I personally believe that this is because we are not use to thinking of ideas which could potentially make us money in our everyday lives. We simply do not use our brain in that way, so you have to start flexing your brain muscles and build this skill.
All the techniques that you learn in the first guide will help you here, for example paying more attention to everything will help you spot really good ideas.
As a starting point sometimes start to look out for ideas you think are good. Have a look online or around your town and try to see which ideas work and which do not. If you spot a really good idea, then think about how you could make it better, what would you do differently? For example there is a woman who makes videos of how to apply makeup and uploads them on to You Tube. She got over 2 million views and is now probably making some serious money from it. To me that's an excellent idea, so simple and easy, yet effective. How could she make it better? Maybe she could make a great website and provide useful step by step guides of how to apply makeup or other information, which viewers might be interested in. Maybe she could get makeup companies to advertise their products to her viewers?
Do not get frustrated if you can not spot any, or you can not think of how you could do something better- this will come with time. This is all about opening yourself up and becoming more aware, so you can spot amazing ideas and brilliant opportunities.
One thing that I find useful when thinking of ideas is to look at my own life and think, what problems do I have that other people might have and that I could possibly solve? For example, I moved to a new City, where I have some friends, but not a lot. I wanted to meet new people, but found that there was no real way to meet like-minded people who were my age. So, I thought, what if I could create a socializing group for people who are a similar age, who wants to meet people and have fun? I would enjoy it and solve my own problem as well as helping lots of other people.
Another great thing to bear in mind when you're thinking of ideas is, 'how can I add more value to more peoples' lives?' This is an important question to focus on, because if you can add enough value to lots of other peoples' lives then you will be successful, because people will have a real interest in what you have to offer. Read the papers, watch the TV, try and find ways you add value to peoples' lives. Look at what problems people have and ask yourself, what would it take to solve that problem?
One of the largest pieces of advice I think I can give you is look for ideas that you can grow way beyond your means. For example, if you have an idea to become a piano teacher, the idea can never really grow beyond your means, because you can only get paid for the hours you teach. This is bad for two reasons;
1. There are only so many hours in the day and there before there's a limit to how much money you can ever make.
2. This idea will never make you financially free, because it depends on you to actually perform the service to make the money and what if you get ill ?!
If you want to be financially free, which means not having to work for your money, instead you have recurring income coming in to your bank every month from ideas you have turned into money-making businesses, that does not require all your time and Do not require you to actually perform the service, then you have to avoid this. What this really means is that you are looking for ways to grow a business which will bring you passive income, rather than being self-employed and having to work for your money. Being self-employed is just like being a piano teacher, or a plumber- you only get paid for the services you perform, but you're limited as to how much money you can ever make because there's not enough hours in the day. And so, if you go on holiday, you'll be worried, because you will not be making any money. You want to turn your idea into a business that is not dependent on you to making the money and so you can go on holiday or do whatever you like and know that you're making that money would be Nice to make money whilst you sleep?
I have an online business, the system is fully automated and I have a virtual assistant to respond to customer support issues. I literally make money whilst I sleep. This is the perfect business model to me. It does not depend on me in order to be profitable, there's no limit to how many people can use the service, thousands of people in one day could use it. This is the kind of business you need to build.
The good part is, that with the use of the internet, you can pretty much turn any idea into a business that generates passive income, you just need think outside of the box. For example, let's say you really want to be a piano teacher, we've already established that this is not going to make you financially free, so how could you turn it into a business that? Easy, you could create a series of video tutorials of how to learn to play the piano, upload these videos onto a website and provide other helpful information, which would help viewers. You could sell each lesson individually for the price you would charge for a lesson, or you could sell them all as a pack for a lot more money. This way you'll be able to do what you love, once you've set it up you'll be able to leave it to run and make money for you, apart from the odd update here and there. You will be able to reach millions of people and add value to lots of peoples' lives. So, not only will this create a passive income stream, you will be able to help more people than you ever could actually giving piano lessons. What's even better is that if you still want to teach piano lessons sometimes because you love doing it, you still can, and be happy in the knowledge that you've got another source of income. So, if you go on holiday you do not have to be worried that you're not making any money.
You might be thinking, 'that's great and everything, but there's loads of people out there doing it, so how am I supposed to make money from it ?!'. Good question. The best way to make money online is to think of any idea that could help lots of people and and idea which is in demand (you can find this out by researching, go to [http://iwomansuccess.com] and check out the Free tools) and then target that idea at a specific group of people. So, if you want to do online piano lessons, maybe you could target 4-8 year olds and create a "How to teach your child the piano, without even knowing how to play the piano!" Or maybe you could create piano lessons for people with learning difficulties? By targeting your idea at a niche market, you will stand a better chance of being successful.
Summary and things to do:
1. Write down at least 5 new ideas every day. Some will probably be rubbish and others will be great. You have to discipline yourself to do this. Once you've got into the swing of things try thinking of 20 ideas a day. All it takes is for you to think that one of those ideas really could work and you could potentially have an idea which could make you financially free.
2. Try and spot at least 5 great ideas every day and think about how you could improve them.
3. Take a good look at your life and see what problems you have. Think about whether other people might experience the same problems and then figure out how you could solve the problem.
4. Always be thinking, 'how can I add more value to more peoples' lives'. Help yourself, by helping enough other people.
5. Think of ideas that will generate you passive income. Focus on growing your idea into a business, not an idea that will make you self-employed. Remember to think niche!
6. Never give up … always keep trying to come up with new ideas. Like anything, the more you practice the better you will become at doing it.