💡Money Making Ideas - Where to find them?
How to look for profitable business ideas
How do you find new profitable business ideas?
Chasing trends?
Asking people?
Solving your own problems?
These are all legit ways to find new ideas, and I’m sure there are many more.
But it’s hard to know if an idea will actually make money or not.
There’s a simple framework you can use to figure this out.
You must have heard this - if you want to make money, help someone -
Make money
Save money
Save time
This is great advice, but how do you actually apply this?
Where do you find people to serve with your product or service?
Today we’ll look a simple method you can use to find new ideas for products and services.
And a 2 part framework that you can start applying immediately.
Marketplaces - Where money is always changing hands
The easiest way to make money is to go where money is already changing hands and try to get a slice of it.
The best places where money changes hands are marketplaces.
Marketplaces are where buyers meet sellers.
There are 2 ways you can make money from marketplaces -
Become a seller - Every marketplace has buyers, figure out what they need, and sell it to them.
Enable the sellers - Every marketplace has sellers, figure out what their challenges are, solve them, and help the sellers sell more.
Continue reading for a detailed example of how this frameworks can be applied. And for ideas of marketplaces you can tap into.
🔗 Super Links
Useful links you don't want to miss -
The G/B/B pricing framework (last week’s post)
Powerful insight from James Clear you shouldn’t miss. H/t Thomas Frank.
“Dark forest”, “Cozy web”, or “Dark Web”, where do you see yourself on the internet? I’m in the Cozy Web. Thanks for sharing Arvid 🙏
Is “Build in Public” a trap? Solid points from Josh Spector
Extraordinary story of finding “AI - Market Fit” with pure hustle. And reaching $1M ARR in 7 months. Read article with my annotations
🤗 How can I help?
Want to figure out which are the best marketplaces to target for your idea? Come join the Indie Masterminds community, you can get feedback and personalised advice on how to apply these SuperFrameworks to your business. Apply now.
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See you next week
Ayush 🙏