Making a Million from a Simple Business Idea

Let me prick your mind about the popular thought about making money.
Thinking about making millions for your business or your “humble” self.
But you wouldn’t know how to go about it, to make that honest million ultimately?

Here is an obvious way to go about it. But it needs patience.

It is an open secret. The answer is simple.

  • Sell something that “millions” or many people would like to pay for.
  • Sell something that is a large number of people must repeatedly buy.
  • Sell something that is difficult to produce but needed by many people.

Keep your thought at bay, about going into exotic items that only the very few rich do buy.
There is nothing wrong in that but you will need a lot of resources to attend to the needs of the rich.
If you don’t have that now, look in the direction of the masses!

  • Then deal with the most difficult assignment which is, to leverage on a network.
    Create your own distribution network, to reach these millions of consumers over time.
  • Pick an idea that sells between a low and medium price tag.
    Coca-Cola, Pepsi and other beverages are low-price retailed products.
    But repeatable, quickly exhaustible and demanded in millions.
    Some of the reasons behind their perennial success.Yours doesn’t have to be like these big companies.Potential demand for yours could be in thousands.

    You must understand your costing and what your target consumers are willing to pay.

Your little profit margin – after deducting your expenditures – when multiplied in thousands could take you to a million in revenue.

To scale up the idea and repeat the process, you must put all the needed resources in place.
It takes time and patience but you will get there. I will have to repeat this.

  • Soar above your competition by adding something complimentary — in a combo — to your primary idea. They don’t have to be big.
    Beverage companies sponsor shows; you know. It is a game of numbers. Look out for other opportunities. They are out there.

Believe in Yourself

Mostly the impatience in people and their ego may not allow them to recognize simple ideas.
Most innocent ideas are like gold and the diamond in the rough. They don’t appear presentable or as polished at the beginning until you do something to them; to bring out the benefits.

While I took a break from completing this article, I just glimpsed through an article about a former banker in Nigeria now a caterer. He had to leave the banking job – a few years back — because his wife was working in the same place as well. That was the policy of the bank.

He decided to get himself entrenched in the catering business because of his love of cooking.

He said the wife was initially shy about him starting on a low key. That did not deter him.
Today the business is reportedly well established and doing well. He is happy with himself despite mistakes and challenges he faced at onset.

Finally

  • Find out time to think widely about the possibilities of serving humanity in exchange for monetary values.
  • Look for ideas that are quickly perishable or repeatable. That would be fantastic.

Examples…
What service or product people use every day or more than once in a year?
What product or service that gets exhausted immediately after single use or after a few times of usage?


I don’t want to give specific examples so that you can use your mind to come up with better ideas than what I could suggest.

Simply look around.

Look at yourself too.

Look at far flung places from you.

The millions are there waiting for you.

Create and conjure scenarios to test:

Simple ideas that reduce or eliminate problems.
Simple ideas that give a more pleasing experience.

Simple ideas that have a consumers in thousands or millions.

It takes time to build ideas that make millions. Patience will be your virtue.

With the right selling price and a well-defined product plus unique value – your business could report a six figure someday.

***Do let me know your reactions below…
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