Category Archives for "Sales"
When To Ditch Your 9-To-5 And Freelance Full-Time
Freelance work was once considered a side hustle used to make some extra cash, explore a new field, or develop a new skill. Today, it has proven to be a lucrative career.
Freelancers are faced with certain decisions such as should the freelancing job be part-time or full-time. This singular decision can determine a whole lot in your freelancing career.
Freelancing can guarantee you stability and opportunity more than you could have ever imagined. Being a full-time freelancer provides you with the opportunity to build a business doing the work you love most, from wherever you want.
A number of people enjoy working full-time in a traditional office setting. This may be because they love working in teams, like to bounce ideas off each other and interact with a colleague, or because they are too used to it to be dependent, the freelancer’s life is not suitable for everyone. So before you take the step towards freelancing full-time, consider the following aspects of a freelancer’s life to see if it is something you’d like:
You Must Have Started Freelancing As A Side-Hustle
Having a full-time job guarantees consistent income for you, but with freelancing, consistency only comes after a steady stream of leads and established client relationships.
This means that you can’t just quit your job and expect to make a lot of money from freelancing immediately, it takes time and patience. You can break free from your 9-to-5 when you already have freelanced as a side-hustle.
You can start by writing an article weekly for a local newspaper. You have one or two clients on Freelancer.mu that pay you enough to foot your bills. Whatever situation you might be involved in, you need to be sure that freelancing will be more beneficial than your full-time job in the long-run.
It’s advisable to start your freelancing career to make some extra spending money, and also grow that possibility. You can join https://freelancer.mu/ or https://freelancer.africa/ to get started. Then once you get a taste of the freelancing experience, you can start to nurture them.
Utilize The Time Factor
Time is an important factor when it comes to freelancing. This does not necessarily mean staying up late to spend more time on freelancing jobs rather it means maximizing the time you have at your disposal.
If you are struggling with a full-time that only pulls a modest payout, you may want to consider freelancing as the working hours are so flexible to suit whatever time you choose coupled with the fact that you make more money.
You Hate Your Current Job
Do you enjoy your 9-to-5 job? This is an important question you must ask yourself even as you plan to quit your full-time job to pursue a career in freelancing.
For some people, they derive a lot of pleasure from their jobs, and that’s okay! But for some, it's a whole different ball game. They are staying put in their full-time job in order to foot their bills.
In the end, everyone has different reasons why they hate a certain job, and the fear of not making enough to foot their bills keeps them in a job that they do not enjoy. Pursuing a career path you love is entirely possible, you can find success in freelancing if you put the required work into it.
The Secrets To Success In Freelancing
You can succeed as a full-time freelancer if you treat it as a business. See yourself as the CEO of your freelance company. Take responsibility for everything related to it.
Establish your company’s work ethics and stick to it during your office-going days and you’ll be fine. The good thing is that you can take a break when you want to, and work extra hours when need be. You can spend more time with your family due to flexible work hours and also because you are working from the confines of your home.
Set your own work hours, you can decide to get your work done in 4 hours instead of 8, you don't need to stay in the office.
Get Started With Us
Either you’re just beginning your freelancing career or looking to increase your number of clients, We can help you hit the ground running.
A lot of freelancers have utilized this platform not just for freelance writing, but for making money doing things they are passionate about. You can offer all of your skills ranging from graphic design jobs, helping people with their social media strategies, editing videos and podcasts, and many more. You can carve out a niche for yourself and make a whole lot of cash from it. Most importantly, you do it on your own terms at whatever hours you want.
Freelancing can be a challenge, but if you are committed and put in the required effort, you’ll find success sooner than expected.
Start Your Freelance Journey With Us, Signup As A Freelancer.
10 PRODUCTIVITY TIPS FOR FREELANCERS
Being a freelancer gives you the liberty to make certain decisions yourself. You get to decide when you want to take a break as well as when you want to work, it is really a jolly ride. However, your decisions can make or mar your career. Freedom if not properly managed can lead you down an unproductive path.
Every freelancer needs to be disciplined, this is to ensure you make the most use of your time. If you do not you will have lots of unfinished projects and an untouched to-do-list. Productivity is being able to do things that you were never able to do before. Do you want to scale heights in your freelancing journey? Follow these 10 productivity tips for freelancers.
5 Essential Copywriting Elements To Master
Copywriting is the language of sales. Good copy is essential for an offer to reach is sales potential – but if you haven’t got the funds to hire a professional, need to revamp an old offer or want to try and tackle the copy yourself, it can be daunting to know where to start.
Copy just comes in so many flavours, and the type of copy you write depends on where you put it, who you’re targeting, and much more.
Here are 5 of the most important types of copy that will help sell any offer. Master these, and if you have a weaker copy elsewhere it won’t matter as much.
It’s easy to spot a bad headline. Too overblown and hyped-up, or too factual and boring. Way too long, or not long enough.
Use simple, powerful language in your headline, including power words such as “free”, “you”, “now” and “never”. Include the action you want the reader to take, such as “click”, “read” or “download”, and don’t make things too complicated, e.g. don’t write “utilise” instead of “use”. Focus on the biggest problem, benefit or surprising fact associated with your offer.
2. Elevator Pitch
An elevator pitch is a short introductory paragraph that can be used on your website, in your sales page, in real life: anywhere you need to quickly introduce yourself and your product or service, who you help and how you solve their problem.
Short but memorable is key here. Sometimes this copy can be condensed into a slogan, but it’s worth taking a short paragraph to adequately describe everything you need.
A great elevator pitch formula is this:
“Did you know, [PROBLEM] leads to complications such as [PAIN POINTS]? My name is [NAME], and I’m a [OCCUPATION] who has developed a method that helps [CUSTOMERS] achieve [SOLUTION] with [BENEFITS].”
3. Features And Benefits
It’s easy to confuse the two, but features and benefits are very different things. Features are the technical specifications of a product or service, and benefits are the positive effects it has on the purchaser’s life.
The best way to describe features and benefits is with a bullet point list, which is easily digestible for skim readers. It also gives the reader a sense of satisfaction, as the brain feels productive when it processes small pieces of complete information.
4. Social Media Ad
Facebook, Instagram, LinkedIn ads (along with others) all have different formats, but the general formula is the same. Once you nail one social media at format, you can reliably translate it for the others.
A general purpose social media ad can be easily assembled from the other parts of copywriting here:
Text: [ELEVATOR PITCH]
Call to Action: “Download Now”, “Join Today”, etc
Ignore everyone when they say email is dead – it’s more effective than ever! If you have an email list, messaging them is one of the most direct and powerful ways of marketing.
However, if your list has gone cold or you only have a few subscribers, it’s not easy to know what to send them. This email template will introduce any offer so you can make the sale in a non-spammy way:
Problem — identify a pain point, calling it out with a question or informal statement (“Don’t you hate it when X?”)
Agitate — go on to describe the problem, explaining the negative impact the reader may be and making it larger in their mind
Solve — bridge into your solution by stating these are the circumstances that led you to develop your offer
Features and Benefits – give a bullet point list of your product or service’s best points
Call to Action – let the reader know where they can find more info or purchase the product
Copywriting doesn’t have to be complicated: it just needs to sell. Mastering these elements of copywriting will help you sell your first products, so you can fund hiring a professional or continuing your journey to copywriting mastery.
How To Sell A High Ticket Offer
If you sell luxury goods, offer a valuable an in-depth service such as business consulting, or just have a product that isn’t the cheapest on the market, your prices may fall into the high ticket category.
Generally speaking, this means $1000+, but it depends on what niche you’re in. For example, $500 is fairly cheap for a 30-day business mastermind, but high-ticket for a pen.
If you have a $899 course, $2k mentorship or $5k+ coaching program, it can be tough to know how to sell it. But, it’s a misconception that the lowest priced product sells more, or that customers are always hunting for a deal. This is because the term “bargain” is relative: what people are really looking for is more value.
This means instead of lowering your prices, you up your value: and there are two ways to do it.
If you have a digital product or membership site, it’s easy and preferable to increase what’s on offer in a way that’s of low (or no) cost to yourself. For example, if you have an info product, and you can easily create things like workbooks, checklists, printables and other digital items from the content you already have, that’s a low-effort way of boosting the value to your customer without too much effort.
For a membership site, it’s not likely that having members hang around a little longer than the stated membership cycle – except when space is at a premium and you’re using scarcity to sell – is going to have an impact on your bottom line. So, you could offer a longer membership. For example, if you own a gym, you already have the building, insurance and equipment: it doesn’t really matter to you that you’re “giving away” one extra month, but for the customer it could mean extra results and boosted loyalty.
Boost Value Perception
If you have a business such as one-on-one consulting, or you offer a service, bundling value isn’t going to work because you’ll have to put in too much effort to make it worth it. In these cases, you want to boost the perceived value of your offer.
Tried and trusted ways to do this include:
All of the above serve to squash objections in your customer’s mind and increase your trustworthiness.
You can also increase perceived value by talking more about the solution your product or service offers and its features and benefits, leaving no stone unturned when it comes to describing how your customer’s life is going to be better after they purchase.
There’s no “big secret” to selling a high ticket offer versus a low-ticket one, but confidence is key. As long as you have faith that your product or service can help others with their problems and give them excellent value, all you have to do is either offer them more of the same, or describe that value in terms that – while not lying about how good your product or service is – displays it in its best light.
HOW TO WRITE A GREAT SALES PAGE
A sales page is the cornerstone of an online marketing campaign. Your ads lead here: this is the page that contains all the info on your product, as well as why the customer should buy it and how to do so.
Even though sales pages can run long, they don’t have to be a daunting prospect. There are several formulas out there to help you write a high-converting sales page, but this one fits all offers and is easily customisable for your needs.
Before you begin, it’s essential to have two things in mind: who you’re going to target, and what action you want them to take on the page. Identifying your audience will narrow down their problems and desired benefits to help write your copy, while having just one call to action – such as “buy now” or “join” – lessens the amount of decisions the reader has to make, removing barriers to the sale.
With those in mind, let’s get writing:
This is the bold text most visitors see first, so it has to hook the reader and make them want to find out more.
There are many headline formulas out there, but you can write your own by remembering some tried and tested ideas. Starting your headline with an action verb such as “speak”, “download” or “imagine” primes an action response and gets your reader to feel like they already accomplished something. Highlight the benefits of your service or product right away, or generate curiosity with an unusual fact or incredible results someone got from using your product.
2. Establish A Problem
Think about your audience, and identify the biggest problem they want to solve. Or, describe the problem your product or service solves best. Step into your audience’s shoes – how does that feel? How does this problem impact their day to day lives? Use the words “you” and “your” to agitate the problem in your reader’s mind.
3. Introduce Your Solution
Here’s where you offer respite from the problem by introducing yourself and the product or service you’ve created that can solve their problem, even one as big as the one you’ve just described in painful detail. Describe your solution in a paragraph, then use a bullet pointed list for a rundown of features and benefits.
4. Social Proof
Now, reassure readers by showing them examples of your product working for others. Testimonials, case studies, celebrity endorsements and client logos all work for social proof – even better when you combine two or more. Reviews from sites such as Trustpilot or Feefo also helps instil trust, so include anything you feel really proud of.
Remove any risk for potential customers by giving them details of your money back offer, 30 day guarantee or other failsafe that protects their investment. You’ll squash objections, and make them feel safe in trusting you.
6. Frequently Asked Questions
This is optional but highly recommended if you have a layered product such as a membership, software or online course. Include what it is, what they can expect, technical specifications, and any other questions you think customers might need to know upfront.
7. Ask For The Sale
Your call to action has to be simple, and motivating. A clear and concise verb tells visitors what you expect them to do next, and what they’ll get as a result (for example, “download now”, “book a free consultation” or “join the club”). Give pricing info, and make it easy for the customer to checkout.
Follow these steps, and you’ll have a solid sales page that will work for any offer.
5 Cognitive Biases that Help You Sell More
Cognitive biases are established patterns of thinking that occur in opposition to what we think we “should” feel when faced with a judgment or decision. They’re lapses in logic, or common sense, which happen when we prefer one set of rules to the other and make decisions based on something other than rationality.
Cognitive biases are often used to sell, to great effect. While these natural laws sound complicated to grasp, there are easy ways you can use them to boost your own conversions.
1. Hyperbolic Discounting
Generally, people would rather receive a smaller reward now than a bigger one down the line. In a famous experiment, children were given a marshmallow and told that they could either eat it now, or be given two marshmallows if they resisted the one for 10 minutes. Many ate the marshmallow immediately, even though there was a better reward later on.
We’re not very good at delaying gratification. To take advantage of this cognitive bias, you can offer payment plans: even though customers pay the same amount (or, in some cases, more) the fact they’re paying less that moment makes the offer more attractive. Or, you can simply delay payment, as putting down $300 in three months feels less risky than spending the same amount now.
2. Sunk Cost Fallacy
Once someone has invested time, energy, or money into an activity or decision, they’re committed to finishing it.
This means the earlier you can get the customer to make an action, or commit - even a tiny one, such as an email address - the more invested they are in your product or service, and will see it through to the inevitable end (purchase).
Lead magnets work well for this, as they exchange free value for the ability to deliver follow-up marketing. Asking the prospect to complete further small tasks - downloading an app, checking in with a daily notification, adding friends - gradually cements the feeling in their mind of having already bought, leaving payment as a logical final step.
3. Ambiguity Bias
Or, better the devil you know. People are more likely to choose options they feel are likely to succeed than those that may promise more, but whose outcomes are unknown or unclear.
People are reluctant to try new things. Case studies, testimonials, third-party reviews and endorsements go a long way to reassure customers your product or service works, and is trusted by people worthy of their respect. Your competitor may be cheaper, bigger, faster or stronger - but if you’re the one with five stars and they only have three, you’ll win the sale.
4. Confirmation Bias
This is when a person gives more weight to information that supports their pre-existing beliefs. For example, hearing that you’ve been eating too much is hard for anyone to hear - much less process in a way that leaves you open to trying a new product. Placing the blame on large corporations, or too much sugar, or past diets that didn’t work, confirms our deeply-held convictions that we can’t possibly be the problem, it’s everyone else.
Exploit confirmation bias by confirming a long-held belief your audience has, and backing it up with new evidence or by calling out a common “enemy”.
Everyone wants to feel like an individual, like their own person with a sense of control. Reactance is the tendency in most people to go against what they’re told to do, just to maintain a sense of independence.
Instead of positioning yourself as the authority by pushing a sale, identify a common enemy to “get on their side.'' Competitor products, a corrupt marketplace, and other sources of frustration are good places to start.
Cognitive biases are latent in everyone, to varying degrees. Experiment with which ones suit your product or service best, as well as which ones your audience reacts to most.
9 Customer Influencing Buying Behaviour Triggers
All our decisions that we make always have emotions involved whether we are conscious of it or not. Learning how to understand how these emotions are triggered can help when it comes to creating effective and relevant marketing content for your brand that encourage people to take action.It’s ideal to be able to identify the triggers and how they are best utilized to achieve the results you want.
We will walk you through nine of the more popular triggers that usually accompany marketing campaigns.
Fear is a powerful emotion no matter which angle you look at it from. This is the kind of emotion that can produce reactions from us without us even realizing and tends to overpower entire logical thought processes. It’s a strong emotion, there’s no doubt. What makes it so useful as a trigger is that it can be taken advantage of and emphasized on. Marketers can play on this emotion to encourage purchases as the action taken against the emotion. However, this needs to be used with caution and done in an ethical way because if it’s not used effectively and with the right intention, your brand can pay the price.
Trigger #2: Time
Time is something that makes us feel a lot of different things and really depends on what situation you are in. We live in a time where everyone is always busy and no one really has time to set aside for something more than they already have on their plate. Where this trigger becomes useful is when potential clients are offered the promise of saving time or gaining time. Appealing to this particular trigger can involve offering to save a person time and unless you can keep your end of the promise, it should be exercised with caution in your marketing efforts.
Trigger #3: Trust
This is the one emotion you want to make people experience when it comes to your brand and the relationship they will have with it. Trust is all about gaining your customer’s loyalty because if you can win a person’s trust you are more likely to earn their purchase. This is something that you need to remain transparent on and practice genuinely because marketing done any other way becomes easy to see through and you will do the opposite of earning trust. To be able to use this as a trigger, you need to simply mean what you say and do what you say you will. Never over promise or promise things you are unsure of being able to deliver on. Be specific about what you can do and share what others say about your service or promises you are able to deliver on.
Trigger #4: Value
One of the most important things people want to feel with whatever amount of money they spend is that they are getting value. Buying decisions come down to the value someone sees that this item or service can bring them. This applies to any purchase whether it’s about someone buying something for personal use or an item or service they need.
Why this is a trigger is because your role is to help the customers understand the perceived benefit they are going to gain from this transaction. The better you make people feel they are getting a great deal, the easier it is to show you are providing value in return for their money.
Trigger #5: Belonging
It’s really important for us as humans to feel like we belong in a lot of ways. Feeling like we belong allows us to feel a sense of validation. This feeling of belonging means that people can make decisions to buy things based on feeling validated and a sense of belonging. People can also feel accepted or purchase the item or service because it is part of the process of feeling part of something bigger than us like a gym for example (to make friends). This trigger is an important one when it comes to how people feel about themselves and has an effect on people’s intellectual levels, social skills and even our mental and physical health.
Trigger #6: Guilt
Everyone feels guilty at some point and some people tend to feel more guilty than others. This trigger can and often is used in conjunction with other triggers like time and fear. Guilt comes in many forms and as such can be used in marketing efforts in a lot of ways. This is why when guilt is used in marketing content you need to exercise it with caution. Pay attention to how you phrase your messages because the last thing you want to do is offend your potential audience.
Trigger #7: Instant Gratification
Who doesn’t like not having to wait for something? In today’s age, instant gratification has almost become the norm and waiting is something out of the ordinary. Being able to use this as a point of value for your product/service can go a long way to how people receive your marketing material. Work around how you can offer your clients instant solutions when it comes to using this trigger to your advantage.
Trigger #8: Leadership
You need to appear as a leader in whatever field you are in. This is because people listen to leaders or those who they perceive to be leaders. If your marketing positions you as a proven leader in what you are selling, people will trust that and have faith in your promise of delivering what you said you would. Work on ways to be a trendsetter in your field and go above and beyond for your clients. Do whatever you said you will do, but better.
Trigger #9: Competition
Healthy competition is great because it can be the push we need to do better in what we are trying to do. In today’s world, competition is fiercer than ever which means that you need to be able to do what you say you will do. There is also a lot of choice in today’s world and you need to understand you are going to come into a lot of competition when it comes to sending a message to your clients. Use the competition to your advantage though to improve on what you are doing and concentrate on being the best you can be among your competitors by keeping your client’s needs the central focus.
Did you know that an email ‘open rate’ is not when you send out an email and that person simply opens it and sees its content?
Open rates are defined when one of the following happens:
The recipient of your email enables the images to be displayed in the preview pane or in full view in the email or
The recipient actually clicks on a link contained in the email.
Sounds pretty straight forward doesn’t it because we usually assume that when we send an email, it is going to be opened and read by the people it is sent to?
In the case of email marketing though, this is not always the case.
But that is why you’re here.
Maybe you’re asking how this email open rate is calculated?
This is by taking the number of recipients who open the mails and dividing it by the number of emails sent that did not bounce or fail to deliver. So if you sent out 100 emails and 90 did not bounce or fail, you then take the number of emails in that 90 that are opened and clicked. If out of those 90 emails delivered, 10 opened up and clicked, then your email open rate on that campaign would be 11%.
With all that being said, maybe you’re asking how you can increase your open rate?
Let’s get onto that!
#1. Start with an engaging subject line
This is the starting point because it is the first chance you get to convince someone your email is worth opening. Make sure you are always testing subject lines to make sure you are giving yourself a chance from the start. If you are not testing this and wondering why your emails are not being opened, this is a good place to start.
#2. Speak to one person
This is a really important point because if you’ve learnt anything in the world of marketing is that when you try to speak and cater to everyone, you are likely going to land up speaking to no-one. Write as if you are speaking to your ideal client, and think about how you would talk to them if you were in front of them.
#3 Quality always wins
Why would someone read an email if they can easily just google the content you have provided? The key to having people open and engage with your emails is sending them info they are not about to stumble across anywhere else, at least easily. You want to provide quality content that the reader feels they are getting value from reading your email. The key in this is that the more interesting your content is, the more chance you will have to convince them to follow the call to action in the email.
#4. Sign it as a person
We live in a big world with a lot of people. The last thing anyone wants is to feel like ‘just another number in the masses’. When you write your emails, make sure it is coming from an actual human with a name so that people feel like they are interacting with a human and not a easy to tell bot or company. Not only is this not personal but you would have wasted your time writing amazing content only to be ignored because the person sees this as another mass mailing spam email.
#5. Pick your moment to send
There is nothing like being disturbed in the middle of the night from someone trying to get you to sign up for their masterclass. It’s annoying and people don’t take kindly to it. Always keep in mind time zones and even a good time of the day to send out. 8 am is probably the least appropriate time to send out because who wants to be propositioned when they are hitting peak hour traffic and are raging mad already. Go back to testing when the best time is to send out emails and you will soon have data to see what times work and what times don’t.
#6. Don’t get put in the spam folder
This is a no-go especially because spam filters are becoming smarter and more sophisticated. Spend time making sure your emails are not considered spam worthy because spending that bit of time to make sure it is not spam, can do wonders for your open rates. Also, remember that no one is going to go check their spam folders unless they need to so your content is going to be wasted if you land up in spam all the time.
#7. Optimize for mobile devices
This goes without saying. If you are sending marketing emails out then you need to make sure that those emails are clearly visible on both desktop and mobile devices. So many people forget that people carry their phones around with them and lose the chance to grab leads because their emails were not working on mobile or were not optimized for mobile. Mobile internet is kind of king right now, make sure you are reaching this audience too!
#8. Stay away from buying email lists
This is a giant red flag. This is the last thing you want to be doing. One you are not guaranteed how qualified these leads are in your industry context and two, these people are likely so sick of receiving emails from all the other dozens of people who bought this list that they already have their spam folder happily primed to get your email. You need to know your audience in order to sell anything to your audience and list building is a part of that process.
#9. Keep things fresh
Every so often it’s a great idea to see who is still active and what emails actually work instead of thinking you are sending to 1000 people when you are actually only sending to 100. Refresh your lists and make sure contacts are up to date. Also, keep looking for new contacts so that you always have a list populating. Never assume people will still be using their emails that you got 2 years ago let alone 2 months ago. Always keep it fresh and regularly spring clean the lists to make sure you are not creating email campaigns for nothing.
Tired of working around the clock for that 9-5 that would replace you in a second?
Maybe you feel like you’re stuck in the job you are and it promises no real growth.
Or you are just fed up making someone else boatloads of money?
Whatever your reason for wanting to start a business is, the outcome can be a rewarding one both financially if done right and feeling like you have a sense of purpose you are working towards.
If this is the first time you are thinking about this though, you probably aren’t entirely sure what it is you want to do in terms of running a business.
And if you’re in that spot, you are most probably on the lookout for all kinds of business ideas that you can turn into a thriving business.
So here is a list of 10 ways to come up with a business idea and how you can help accelerate your inspiration on the path to finding the killer idea 🙂
#1 Do something about what annoys you
Is there something that just gets on your last nerve? Perhaps something you need to buy that feels like it costs the earth or a service you have to make use of that just rubs you up the wrong way. One of the best tells for whether something can be turned into a business idea is when it feels like there is no hope concerning said product/service. Good thing is, there is hope and it can be in the form of how you can improve on that particular item/service. Maybe where items need to be purchased for something like college, you can offer a rental service at a fraction of the cost.
Sometimes a business idea waiting to happen is something that annoys you. Use it as a potential starting point and go from there.
#2 Don’t look at reinventing the wheel
Most of the great ideas that come out these days in terms of new businesses is not brand spanking new ideas/products. Instead, they can be a (slight) improvement on an existing product. Think about it. If there is already a market with that existing product - say an iPhone - a business idea centered around a product to improve the user experience of that device can be just as big a winner.
Take a look at what some of the big names in industries are doing and what they are missing out on and go from there. In other words, search for new niches within already established markets.
And luckily, there are new niches popping up every single day. All you have to do is think outside the box and make sure your idea serves a purpose.
#3 Recycle your skills
Sounds funny but think about it. You have a particular skill set and most likely you are concentrating those skills in a particular field. Why not try putting your skills to use in another way that serves a purpose. If you’re a writer, always concentrated on writing for the marketing field, what would happen if you turn your skills towards another market.
You could be the next greatest children's book author without even knowing it and you could turn your skills to work for you in another direction. There are loads of ways that people with all kinds of skills can refocus their attention to a different sector or towards a different niche, you just have to give it some thought.
#4 Find a market that needs some pep
If you’re struggling to find that killer idea for a business, do some research.
Look at industries that have not really had much innovation in recent years, then put on your thinking cap and find something to create that innovation.
Again, this is not about reinventing the wheel or having to create something from scratch, it can be as simple as making something work better or helping solve another problem that no-one has been able to yet.
#5 Make something that already exists but make it cheaper
Again, we are not talking about creating something from scratch. You need to keep in mind that there are different spending levels of people and that just because a product costs X does not mean everyone can afford it at that price.
By taking something that is used frequently or a popular item, and making a cheaper version of it, you can be catering to a whole untouched market.
But by all means, please do not read cheaper as lower or unsafe quality. This is where you need to be clever about how you bring down the cost of the item. Maybe it involves using a different material or varying the way in which the product is presented but it should always be safe for the market it will serve.
Don’t make the mistake of cutting corners just to make it cheaper, be innovative and think about how to do it the right way.
#6 Conduct some field research
What better way to find out what the market is looking for than to talk to the market?
If you are looking for ways to come up with a business idea, you need to get a feeling for what people are looking for and expecting, that way, you will not only be getting first-hand market research but you will be able to come up with a way to solve whatever issue they may be having.
Maybe you don’t need to talk about what products they’d like to have or what services they need but ask them what frustrates them and look for a pattern over a number of people.
Also, try to stick to a particular niche so that you are talking to a market of the same or at least similar people. For example, if you talk just to moms you may be able to come up with something that can make a mom’s life easier. You will have found a niche and it narrows your scope which helps you zone in on a solution for them and ultimately come up with a business idea.
#7 Make use of your particular skills
This should go without saying but your best starting point is to stick to what you know best.
If you are good with your hands, you are not about to go into creating a solution for accountants or the motor industry…
Also, don’t only concentrate on those skills but reflect on your hobbies or passions because these are something you care deeply about and are interested in. Chances are you able to learn really well when it comes to them so take time to explore that too.
Maybe you are interested in watercolor painting. You never know how that passion can turn into either you offering your skills to help teach others or turning it into some kind of product.
Keep your mind open!
#8 Take your ideas across borders
Look for inspiration and ideas that are working in other countries and see if you can adapt them to your home base.
Chances are, you may need to tweak it a bit to make it work for your country but the good thing is that you can probably do that because you understand your home market and what it would need.
Always look at things that are not being done in your neck of the woods that will either solve a problem or create a new niche market.
The internet is a wonderful place and luckily you don’t need to be fortunate enough to travel to be able to find all the info you would need to be inspired.
#9 Don’t only settle for perfection
Maybe you’ve had some ideas that you were like, “this would work, if…” but then you tossed it aside and continued looking for that perfect idea.
Go back on all those maybe ideas and see what is most executable right now.
Because sometimes those are the ideas that are work in progress and work really well in the end because the develop and grow into something really great.
Things are not always going to go as expected, count on things to develop in their own way and go with it.
#10 Never stop looking
Keep your mind, eyes, and ears open all the time.
Keep a notebook with ideas and review it every so often because you never know when an idea can be as simple as starting a website and getting it off the ground.
Do not limit yourself to thinking you need to have large stacks of cash to get an idea off the ground either because there are loads of things you can find that need solutions that you can offer.
Most of all, never stop looking for ways to improve on things or to make life easier because chances are you will have a few pretty decent ideas. Staying inspired keeps your mind open to discovery always.