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The Perfect Business Idea | Torie Mathis

Are you trying to figure out the perfect idea for your small business? 

There are several ways to go about brainstorming and researching the perfect business idea:

You start with finding something that people want, and that’s relevant to your target market, but also something that you love and are passionate about. 

Then you narrow it down to something you can be profitable with, so you can create a successful business out of it. 

Connecting those three will give you a great business idea.

But there’s actually a much simpler approach to help you brainstorm the perfect business idea: 

You can just about guarantee you have a great business niche as long as it solves a problem your target market is facing. 

How Solving Problems Creates a Win-Win

People are constantly searching online for solutions to their problems. This is why they look on Google, search YouTube, or ask their friends for help on social. 

We turn to experts and friends we trust for help with the problems we’re facing.

Your customers are looking for these solutions with money in hand. People are more than willing to pay top dollar for something that saves them time, saves money, or improves their lives by removing the issues they’re facing.

Discover their Problems

If you can provide them with these solutions, you’ll have a highly profitable small business. The first step is to discover what problems your target audience is facing.

If you know your target market well, you probably have a pretty good idea of what issues they face. But it’s better to conduct some customer research and base your business ideas on the objective data you obtain from them. (Not just what you think, which is a huge mistake and could lead to a lot of wasted time.)

Here are some ways to find out what problems your audience is facing:

  • Find out what your target customer is currently buying to help solve their problems. Look at the items in your niche that are selling well in online marketplaces like Amazon.
  • Follow discussions on social media, Q&A websites, Online forums, and in blog comments. See what problems people are asking for help with.
  • Ask your customers directly what problems they face and what kinds of solutions they are looking for.
  • See what competitors your market follows and look at the content they enjoy, share, and comment on. 

How To Offer a Solution

When asked what niche they’re in, most business owners will say something like fitness or home repair. But this is too general. 

A better way to describe your business niche is to identify how you solve your customer’s problems.

Create a simple but powerful statement based on this template:

“I help _____ to ____.” 

For example, “I help health-conscious parents to choose natural products for their home that are not only good for them but also are good for the planet.”

Another example would be, “I help work-from-home entrepreneurs to get more organized and maintain a good work-life balance.”

You can also use this statement when describing your business, and it will help clarify the exact solution you’re offering.

Make It (EVEN MORE) Specific

You can’t be too specific with your business niche, so try to identify it as clearly as possible. 

Emphasize exactly how it’s unique. You can even drill down into a specific sub-niche within your niche so you’ll have less competition and stand out even more.

The 3 Keys to the Perfect Business Idea

There are really only three steps to the perfect business idea. First, start with your ideal customers and the specific problems you can solve for them. Then find a business niche that you’re passionate about. Last make sure that it’s in high demand and you, my friend, have a winning business idea.

Do you want to learn more about creating a profitable online business? Check out my course, Start Your Business Smart, which teaches you the A to Z of finding the right business niche for you and helps you achieve your business goals. 

And remember, you don’t need crazy tech skills, buckets of cash, or a dedicated staff to market your business; in fact, you don’t even need a lot of time. What you need is to be smart and find your perfect business niche is smart!

 

About Digital Marketing Expert Torie Mathis

Torie Mathis helps entrepreneurs, like you, use digital marketing to grow your business without wasting time, money, or your sanity.  She is a best-selling author, Army veteran, speaker + trainer, and your digital marketing coach. You don't need crazy tech skills, buckets of cash, or dedicated staff to market your business. In fact, you don't even need a lot of time. What you need is to be SMART.

Learn from Torie at the Smart Arsenal and on her channel.

Torie hosts SMART AF, a show for non-techy entrepreneurs looking to grow their business, with her husband Sean and is the creator of SMART AF Magazine.

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hi im torie
I help solopreneurs & biz owners (like you) use digital marketing to get more clients + make more money without a big budget, a lot of time, or losing your sanity. And I make it easy! 

You don’t need crazy tech skills, buckets of cash, or dedicated staff to market your business. You don’t even need a lot of time.

What you need is to be SMART.

 

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Hi! I'm Torie!

I help entrepreneurs (like you) use digital marketing to get more clients + make more money. And I make it easy! 

You don’t need crazy tech skills, buckets of cash, or dedicated staff to market your business. You don’t even need a lot of time.

What you need is to be SMART.

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