There's a lot of lucrative enterprise ideas in almost every market and in every area, and all you have to know is how to find the idea of a project that suits you.
 |
| How to Find the Idea of a Profitable Project |
That's what I'm gonna try to help you with. You're probably one of those:
You have even a small capital and you want to invest in a project to increase your income.
You have some ideas for several projects, and you want to know how to choose from them in a proper way that's appropriate for you.
Looking for quick business opportunities to win.
You want to become an entrepreneur, and have your own project that brings you income continuously.
That's why I'm not just going to show you the methods that help you find an appropriate legitimate idea, but I'm going to put a lot of information before you to make sure that the idea you chose is meaningful.
And that's not all. I'll also put before you everything you need to do your project properly (tools, government documents, marketing plans) and so on.
That's why I want you to read this article so carefully, and not just read the titles, because you might miss a lot of the benefit that exists between the lines.
Pre-project idea
You know, there's a lot of statistics that suggest that more than half of new projects don't work, and that's very important to keep in mind.
That's why before I tell you how to find a legitimate idea there are 3 questions you should answer first, so that your money, your effort and more importantly your time are not lost.
These questions, if you answer them truthfully, will make you avoid many causes of failure, and will also make you move with confidence and determination in a world full of variables and fierce competition.
Why do you want to do a project?
I know I gave you some reasons up front, one of which might have prompted you to look for a legitimate idea... But that's not what I mean here. Let me tell you a short story for one of my acquaintances.
This person founded a relatively medium-sized project (a small garment shop), but from the start of its foundation he had so many problems that he had to shut it down less than a year after he opened it.
And he told me that he lost over 100,000 pounds on this project, and when I asked him why he started this particular project... He told me the truth that maybe he didn't know himself before the project started.
He founded this project because of his wife, who wanted to be a manufacturer to brag about it in front of people and be like her sister's businessman husband.
There are a lot of examples of people who set up projects for reasons that don't come from within, remember that any work you do is for yourself and not for people.
Even if you want to increase your income to help your family or your family, the project is yours. To help you carry out your duties to those you love and care for.
That's why you have to be honest with yourself, and if you feel like you really want to do a project for yourself to learn, try, or increase your profit, or to realize your personal dream, not for your image or appearance in front of people... So finish this article.
If the answer is otherwise, I would advise you not to complete, not all people are supposed to be entrepreneurs and entrepreneurs... So if that happens, where are we gonna get someone working on these projects?
How high can you risk capital?
There are some simple projects you can start with without capital, but most projects will need you to start with capital.
I want you to think about this question particularly well, and if you don't absorb it enough, let me ask you another way, "What happens if you lose all the capital you put into your project?"
Hey, see:
Will you be able to fulfil all your duties?
Are you gonna have debt problems or something?
Are you going to lose any of your belongings?
When you start a new project, try as much as possible to be the capital you're going to start to excess your personal need, you're not going to lose your whole life.
That puts pressure on you and makes you move with confidence... That's unlike if you borrow money to start your business, or invest all your money... Then you'd be anxious and nervous, and if there were losses, your family and social life might be affected.
That & epos why if you don't have responsibilities, you venture into everything you have. If you have responsibilities, my advice is not to venture any money you can't afford to lose.
Do you have time for your project?
Anything we plan for often takes longer than we expect, and a new project needs you to look, check and review each step.
That's why you have to make sure you have enough time, especially if you have daily tasks to do (job, study, family duties) to avoid a lot of problems.
Either you're gonna be able to devote enough time to think, look and do without affecting your life, or maybe you're gonna be thinking about postponing the project itself to another time.
I think you've noticed that maybe I'm trying to discourage you from creating a new project... You're right. Those questions I asked you are a test.
So do you really have what it takes to set up a project or can't you, if you're honest with yourself in answering it means that your likelihood of success is higher than others.
There are hundreds of examples of projects built on the passion or skill of their owner... Someone created an education platform because he's a teacher who likes to communicate information to students in a simplified way.
The AutoCAD-Solid Work program was enabled, and a project was established to provide services to all who needed it.
And also who opened a restaurant just because of his passion for eating, and how to serve fast meals in one of the famous eating items.
I can give you dozens of examples of project ideas based on passion, skill, or work experience around which you might build an entire project.
That's why I want you to look good at:.
Your scientific background.
Your background operation.
Your interests and hobbies.
And see if you can use one of them to build a project, the picture will be more apparent to you by the next element.
Think about the problems around you
Many of the world's largest companies started out because of problems, for example Travis Kalanick, the founder of Uber Worldwide, founded the company because of a problem he faced.
One time he was on a date with an important meeting, and he wanted to get a quick transport for him and a group of friends, but he couldn't.
And when he thought about it, he found this to be a big problem for a lot of people around him. Hence the idea of an Uber company providing a solution to this problem.
You can order good transportation anytime and from anywhere with just your phone and the Internet.
The same applies to the success story of Ali Baba Global, which was founded to facilitate communication with Chinese manufacturers and traders from all over the world, which was a problem at the time.
There's a lot of examples of companies and enterprises starting out because there's a problem in the market, so maybe you have a lot of opportunities in your business or in your study.
While studying at the College, we had the problem of obtaining global references and the research that we rely on for study, and one of my colleagues at the College, in collaboration with an acquaintance, facilitated the process of obtaining, compiling and printing books.
By the time this project became a large writing company and printing press that gave my friend a good income, he left his job as an engineer, and was fully dedicated to his project and development.
That's why I want you to think about everything around you, look for the problems you and your peers face, and look for practical solutions.
Repeat a successful project around you
There's a lot of successful projects around you in different areas, so why don't you think about repeating one of these projects with your own touch to outperform competitors.
Remember very well that the market is big and open... Don't you walk the streets and see many companies, offices and shops that offer almost the same services.
And yet all these companies work together and make good profits... Why don't you take advantage of your admiration or knowledge of a project or idea that's already been tried and successful and then repeat it.
Improve a product or service already on the market
There's a lot of products and services on the market that need to be developed, so why don't you use this to start your own business.
For example, there is a new Egyptian start-up company that makes the accounting application and data recording service for restaurant and shop owners in a way that facilitates better data collection and ranking of accounts than it currently is.
This company has made a very good profit, all because of the development of a service that already exists and offers it to customers and interested people in a way that makes it easier for them to handle clients and accounts.
If you look at your work, your field of study, or the market that you're dealing with, you'll find a lot of products and services that can be improved, and you might as well think about some of the elements that can be improved in one of the services that you rely on.
Why don't you take a step and start this project yourself.
Exploit social and economic opportunities around you
There's a lot of economic and social changes going on around us, these changes create a lot of opportunities that if you take advantage of one of them, you have a successful and influential enterprise.
Even social events bring about a change in markets, with many projects, such as party preparation companies, gift workshops, holiday games or big football tournaments, emerging.
What's with the changes and lasting events, especially in the domestic and global economy market... Let me give you a practical example.
I don't think anyone's hiding the current economic and social impacts of the new corona virus, these effects are sometimes negative.
There are many projects, products and services that have emerged and been developed only because of this crisis.
Even clothing companies have exploited this and are producing fabric masks with different and attractive designs to keep pace with these changes, while at the same time taking advantage of opportunities for sales.
The same applies to detergent companies that have focused on manufacturing disinfectants of all kinds.
You have to look at the society and the economic conditions that it's going through, if you do, you'll find a lot of opportunities for project ideas that can change your everyday routine and the experiences around you to improve things.
Exploit the emergence of any new technology on the market
Every day there's a new one in every area, and from time to time there's a new technology that's being used to develop all areas, for example when the Internet came in, it's changed all the industries on earth.
When the process of developing telephone applications became easy and accessible, many industries evolved and changed, and when electronic payment methods emerged, many areas changed.
That's what I want you to think about in the field or industry that you care about, look at everything around you and ask yourself what you can use any new technology to develop and improve.
This is one of the most important methods that helps you figure out how to find a new project idea.
7-Relying on economic statistics and prospects
Reading data and information gives you a lot of hints about market trends in any area.
You'll find a lot of information and data that you can use to discover new opportunities in markets, especially import and export data.
That's why I'd advise you to look at all the statistics and information on the areas you're interested in, because you're going to find a lot of opportunities, and if you're interested in digital marketing, I'd like you to see the following evidence.
digital marketing trends
Statistics of Social Media use in Arab States 2020
Invest the resources around you
You'll know how to find the idea of a successful and effective project, if you look at the potential and resources around you, you might live in a coastal province and use your presence next to the sea to do a project appropriate to your potential.
Or maybe you live next door to an industrial area and do some legitimate work to take advantage of this area... Either by providing a service to its employees or even by trading in manufactured materials.
You should know that everything around you is a resource you can use to start your own business.
There are large, medium - sized companies and brands in many areas that need someone to cooperate with... This is to increase their projects and enhance their position in the markets.
So why don't you use the expertise you have in your field to take advantage of this? As long as they know well and know their need or aspirations to expand, they will be able to find many, many enterprise ideas.
Perhaps the best-known example of this style is the famous restaurant chain, so do you think, for example, that it's KFC or McDonald's that's looking for new branch space?
These large companies just receive requests for cooperation with their own brand by opening a new branch of the company, and of course this happens according to specific conditions and rules.
That's why I want you to use this technique to look for an idea for your new project.
Experiment with ideas that you think might work
There's a lot of crazy ideas that might have crossed your mind randomly. Don't ignore them. Maybe a random idea is the key to success that you're looking for.
That & epos why I want you to record all the random thoughts that come to mind... And then you think about it and you examine its applicability, and my advice is to try as long as you have time and resources for it.
According to many business experts, experience is the best milestone for every start-up entrepreneur, and the more you experience, the more experience you have, the more experience you will learn in your working life.
Beyond Project Idea
After you think and look through the previous ideas I've shown you... Implement the next steps to move from reflection to implementation.
I will give you a quick summary of these steps, and then I will provide you with a source that will explain all the previous steps in detail with all the sources you may need as well as all the additional information you may need.
Identify more than one project idea
The next steps will make you look at many factors that might tell you that your project idea is not good, so I want you to look for more than one idea.
And you might as well, while looking at you, show you more than a legitimate idea, and you write it down in a paper and keep it, and if you're faced with a particular impediment to implementing the first idea, you can move on to the next idea.
Research, study and information collection
This step is most important, and it emphasizes whether or not your project idea is appropriate, because you will be looking and gathering information on:
Target audience study.
Studying competition in the market.
Study of the nature of the market (capital cycle - level of growth).
Development of the project plan
One of the most important stages after you know how to find a good project idea is to make a clear plan for this project so you can start implementation while you're ready.
This plan includes the following:
Background information for the project (name, address, location, logo) and other fundamentals.
Product or service description (clear description - sources, ores and instruments to be relied upon - competitive characteristics of the product than available on the market).
Project vision.
The marketing plan for the project.
Project funding plan.
Business plan.
Pilot operation of the project
After you plan the project and get everything you want to run... You first have to do an operational experiment before you launch the project to make sure everything's okay.
You might detect a certain glitch in some of the tools, a shortage of certain products, or financial problems that you didn't expect to take into account before launch.
The most important sources that I would advise you to rely on
In the winners, we have produced a comprehensive manual, "How to Start My Project Properly," in which you will find all the steps you need to implement your project, which will explain the previous steps in detail.
This is in addition to the following sources and topics:
How do you extract a tax card?
How do you make a commercial record?
How do you design a professional logo?
Five basic skills must be available in each Business owner
When all your work stops, how do you collect strings to start stronger again?
Types, Causes and Handling of Corporate Crises (Comprehensive Guide)
8 Points You Have To Check Before Hiring Anyone In Your Company
9 things you never do with your team (for every manager and manager)
How do you plan to market a new product (start professionally)
7 Wills for Marketing via Social Media for Small Enterprises
I also recommend that you get a PMP if your project is medium-sized, this course is very useful for any entrepreneur or entrepreneur.
You can get the course and certification from a lot of accredited institutes and centers in your country, which you can easily find in a small online search.
And if you want to get this online course, I advise you with this wonderful chorus, which explains everything about this course and how you can get the certified online certificate.
Conclusion
I think now you know very well how to find an appropriate and profitable project idea, and you have all the tools and information you might need, all you have to do now is start.
If you have any questions, feel free to leave it to us in comments.
I wish you success and success and a close meeting.
read also :
Most important disciplines required in the telecommuting labour market (comprehensive guide2021)
Project implementation steps (practical steps from idea start to project end in 2021)
Comments
Post a Comment