Wednesday, March 27, 2013

Trying to Think of the Next Million Dollar Idea? Change Your Mindset!

A lot of people today are sitting around trying to think of the next big idea so they can make it big and quit their day job. Well I have another approach that you should consider if you want to quit your day job and be your own boss, stop thinking about the next million dollar idea!

The chances that you'll think of the next big idea is slim to none. The chances that you actually think of it AND you're able to execute is almost zero. Seriously you're probably better off playing the lottery, at least that has truer odds.

So if you shouldn't try to come up with the next million dollar idea, what should you do?

You should be focusing on small to medium ideas that you know can be profitable even if it's only $1000 a month. The goal with your idea is that it makes money, no matter how much it is. If you have something that is making money then you can always improve from it from there.

When coming up with these ideas, you should always consider how much work is it going to be after it is launched. The perfect idea is one that can run on absolute autopilot after it is launched. This doesn't mean you launch it and forget it, it just means that you don't have to focus your entire attention on it for it to be successful.

If your idea requires online marketing (even though your goal should be SEO), you can setup an ad campaign to run continuously without having to closely monitor it. Just make sure the ads are making you more money than you're paying for them!

Once you get an idea that is generating money, move to the next one and do it again! Eventually you'll have a handful of projects that are generating enough income for you to quit your day job!

I'll get more in depth of some of these ideas in upcoming blog posts.