How to find business ideas

James Hu
3 min readNov 15, 2017

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I hear a lot of smart friends who want to start something. But “I don’t have any good ideas.” That’s fascinating. Because I have way too many ideas I can barely contain myself sometimes. So I started analyzing and dug deeper, then I saw the difference.

Here’s how to go about finding ideas.

#1. First, believe.

We all have amazing ideas. It’s just the split moment we think of it, we respond to ourselves “that’s impossible.”

In 2007, if someone told you to start a business by charging stranger money to stay at your home you’d call that crazy. Then Airbnb launched in 2008.

In 2008, if someone told you to start a business by charging strangers to ride in peoples’ cars you’d call that crazy. Then Uber launched in 2009.

The nature of big ideas are inherently “crazy.” Because non-crazy ideas have already been done by most people.

Why can’t we build a hover craft, Beijing to London railroad, private-jet sharing service?

So now you’re thinking “They cost millions” where do I get that money from? Fine. Let’s start small then.

How about any of the below?

  • A tool that adds events I’m interested in onto my calendar automatically.
  • A site that compares costs across Airbnb, Hotels, and (maybe) hostels?
  • A retailer discount alert service. i.e. Text me when Nordstrom has a sale > 25%.
  • A food delivery service that targets specific diets. i.e. keto, paleo, vegetarian, vegan.

Those who believe she can or she can’t are usually right.

Don’t have enough money? Well, go find money or be scrappy! Don’t know anything about x? Well, learn it. Don’t know any experts? Well, find experts!

Be resourceful. It has never been easier in today’s age. Imagine trying to find an expert at your parents’ times. No internet. You’re limited by your personal network. In today’s age, the only thing that’s holding us back is ourselves.

#2. Look for problems.

Not having ideas is like saying this world is a perfect place and it’ll never change. Which we all know is not the case. Problems are basically opportunities.

If you can solve someone’s problem, he/she will pay.

Talk to a single friend of yours and ask “Assuming I can find you your perfect someone. Would you pay for it?” The answer is likely a yes. Then ask someone “What’s the biggest problem in your life right now?” “If I can solve it for you, would you pay?” They’ll say “YES!” with a duhh look.

The world has plenty of problems: unemployment, food & water safety, lack of education, security, poverty, climate change, and waste. They sound like distant problems but people like this 21 year old who built a trash bucket that sucks in waste from the ocean.

Why’re we taking our environment like it’s supposed to be? DON’T ACCEPT IT.

Shoot, lining up a problem. Why do lines and congestion still exist these days? Why does paper still exist? Why can’t everything be wireless already? Why’re we still using a wallet? Why’re we still using cash? Why do video conferencing services still suck? “Hello? Can you hear me??” C’mon, what age are we in!?

#3. Lack of courage.

The world isn’t short of smart people. It’s short of courageous people.

Conclusion:

I see ideas everywhere and opportunities everywhere. Believe you can, question your environment, and have courage. The world will be just a bit better just because of you.

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