How to Develop your own Money Making Ideas

There are three major formats you can use to create profitable idea:








1. Find something that already exists, the presence of which has never been known before.






2. Invent something. Most inventions are merely new arrangements of things that have already been invented.






3. Alter or improve in any number of different ways something that already exists.










Those are only the overview on how to develop money-making ideas. They sound so simple but they are the framework in conceptualizing brilliant moneymaking ideas. The following are the guide questions that will help you in the process of acquiring the skill:






List the things you want to improve:






- Why should it be improved?


- Who will benefit from the improvement?


- What is wrong with it at the present time?


- Did someone else cause a problem with it?


- How do you propose to improve it?


- Do you have the facilities to do the work required?


- Do you have the know-how to do the work required to improve it?


- Exactly what part needs to be improved?


- Should it be smaller? Larger?


- Should the color be different?


- Would more activity help make it better?


- Could it be combined with something else to make it more practical?


- Would a different basic material work better?


- Is it too complicated, could it be simplified?


- Would a substitute be more meaningful?


- Is it priced too high?


- Would a change in personnel help the situation?


- Can the shape be changed to advantage?


- Can a new marketing plan make the difference?


- Is it safe?


- Can it be mass produced to bring the unit cost down?


- Should the appearance be changed... streamlined?


- Is there an adequate guarantee?


- What can make it appeal to a bigger audience?


- Would new packaging or trade name enhance it?


- Can it be made heavier, lighter, higher or lower?


- Can it be franchised?


- Is there a good maintenance program to back it up?


- Can financing be simplified?


- List ways to increase production:


- List ways to increase sales:


- List ways to reduce costs:


- List ways to increase efficiency:


- List ways to improve quality and increase profits!


- What can be done with it to satisfy more people?






Ooops. I know its a long list but you don't have to answer all the guide questions. Pick only a few of them and start grabbing your chance of having the possibility of becoming wealthy.






To sum it up, we need to learn to develop ideas from observing everyday things and details. Think of what could make something better. Dwell on things that have a large marketing audience, something that everyone needs and wants. Write your ideas down. Put a pencil and pad at your night stand. When you remember a good dream... don't just lay there, by morning you will forget it... Jot it down on the pad. You will be surprised what you can dream up! Maybe the million dollar idea will magically appear on your pad tomorrow morning!