5 Steps to the Perfect Online Business Idea

I talk to people, quit often, who want to start an online business but don’t have an idea for a business related to what they’re passionate about. If that’s you, it’s your lucky day.

I came up with a process for developing your perfect online business idea. Just follow the steps below and you’re on your way.

Step 1

Ask yourself these 3 qualifying questions:

  1. What do I love to do?
  2. What am I already good at?
  3. How can I fulfill a need or solve a problem?

Step 2

Consider what I call the 3 Purpose Plays or ways you can monetize your passion:

  • Sell It—Create a product related to your passion and sell it online.
  • Lease It—Become a consultant for people or businesses related to your passion.
  • Teach It—Teach other people how to do what you’re passionate about.

Step 3

Brainstorm ideas:

  • Take 10 to 15 minutes to write down every idea that comes to mind.
  • Keep your answers from Steps 1 and 2 in mind while you brainstorm.
  • Right down every idea....
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