Episode #20: What is possible? Inspirational business ideas for youJul 17, 2020
Coming up with a business idea can be really difficult. We hear it all the time from the Bloomdocking community! And we know firsthand just how frustrating it can be to want to jump into entrepreneurial freedom, but feel like you just don’t have the idea to make it possible.
So today, we want to share two real-life stories about how you can find business ideas in pretty much any part of your life. We hope these will inspire you to look at different aspects of your life to find those hidden gems that can make the 20 hour work week a reality for you!
Business Idea #1: Community Membership for Nature-Loving Adventurers
As you know, at Bloomdocking, we believe you should focus on the things that really matter in life. For us, this includes spending time with Mother Nature, and with family and friends. So when preparing to take a kayaking camping trip this weekend, we were doing a lot of research, but quickly became overwhelmed. (Listen to the episode for the full story!)
This experience inspired a new business idea: a monthly membership that provides research and information on outdoor adventures! We would certainly pay for that kind of service, as it saves us time in doing the research and testing for new kinds of nature experiences.
In our initial brainstorming, we thought this kind of membership could include:
- Trip suggestions based on experience level and desired destination
- Detailed trip itineraries
- Gear buying and rental recommendations
- Food suggestions (both camping recipes and eating out)
You could even set it up so certain members can become contributors and grow the community even further. We talk through even more possibilities for this business idea on the episode, so be sure to listen.
Business Idea #2: Teaching a System You Created to Solve a Problem
This next idea comes from a customer who has developed a system to keep his kids busy at home while he is at work. He’s a single dad who is an essential worker, so he had to continue to go into work every day during shelter-in-place orders...but his kids were out of school and home all day. He created this system to ensure the kids do some schoolwork, get physical activity, and spend time doing things they enjoy each day.
We talked through a lot of considerations about this business idea. Who will it serve? How should it be packaged and priced? Are people really going to pay for this? Listen to the episode to hear more about our conversation.
Speaking of pricing, there is a lot you need to consider when pricing your product or service. Here are just a couple of considerations:
- What kind of value is your product delivering to your customers? Helping people learn something vs. helping them solve a problem they have vs. helping them save money.
- What are your competitors offering and charging?
In our upcoming Business Feasibility workshop on July 25, we’ll take you through a pricing exercise to help you think through these considerations and more! Sign up now and take advantage of the early bird pricing! (expires 7/20).
For the next steps, this customer will also be joining our live Business Feasibility workshop to walk through some specific steps in determining if his business idea could be profitable.
Listen to Episode #20 Now!
We believe the best business ideas come from real-life problems and needs AND are based on what people are passionate about. These two examples are so specific because they come from a need that popped up in real-life from two different families with different problems and strategies for solving them.
So when you’re brainstorming business ideas, don’t be afraid to get personal. Think about situations in your life where you wished for a system or solution to make your life easier, and consider how you can turn that into a profitable business idea. Our previous podcast episodes provide more resources on how to think like this, so be sure to take a listen (or re-listen!) if you haven’t already!
Are you ready to learn about the reason behind the original 40 hour work week and why using technology, experts, and the internet to leverage your productivity to work less hours is so important?
Great! Go ahead and listen. Then leave a comment on our private 20 Hour Work Week Movement Facebook Group to help support everyone in this movement.
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