3 Smart Sources for Money-Making Ideas

money-ideas

One of the most frequent questions we hear is this: How can I make money? 

For many wannabe Biz Kids, the problem isn’t drive or desire. It’s ideas. Where should you start? What kind of business can I start? Today, we’re presenting three simple sources for young entrepreneurs looking for money-making ideas.

1. Solve a problem.

Long ago, a wise person said, “Necessity is the mother of invention.” Boy, were they right. Your first stop in finding a way to make money is to search for a problem to solve. Perhaps your neighbors are frustrated by the piles of leaves in their driveways, or the lack of fresh produce in your neighborhood. Solve their headaches, and you just might stumble upon a lucrative business model.

2. Do what you love.

Scattered amidst the commencement speeches made to most graduates is this advice: follow your passion. It may be cliché, but it’s also smart. By doing what you love, you’ll be doing something you’re likely good at. And by doing something you’re good at, you could earn an income! Love cars? Start a detailing business. Love baking? Sell cookies!

3. Respond to a recent change.

This one may be less obvious, but it’s the secret of some of the world’s most successful entrepreneurs. When something changes in society, like internet coming to a rural town for the first time, or an office building opening up where there wasn’t one before, opportunities follow. That town now has a need for technology, and the office neighborhood needs lunch spots! What’s changed in your neighborhood recently? How can you respond?

Those are just a few categories to consider if you want to start a business but don’t know where to start. For more ideas, watch our episode Escape the Box