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How to find Multi-Million dollar business ideas

Transcript

0:01
What’s up YouTube?
0:02
This is Steve with the Dukes of Startup.
0:05
Today we’re going to talk about 4 skills to create multi-million dollar business ideas,
0:11
but stay tuned to the end because we will give you a bonus fifth skill, for free.
0:21
Two important mindsets to keep in mind while using these skills to create multi-million
0:32
dollar business ideas.
0:34
First, customer validation is key.
0:38
When you’re building a business you have got to keep your customers in mind.
0:42
If you’re customers don’t want it, ain’t no one gonna want it.
0:45
Keep talking to them, keep them in the loop, and know, most of all, know what they want.
0:52
And the most important mindset to have is to “Just Start.”
0:57
There are too many people that want to start a business, and have a good idea, but they
1:03
never do anything about it, and guess what that makes them?
1:06
Zero dollars!
1:07
You don’t make any money on a failed business, or a business that never gets off the ground.
1:14
The first skill to finding your multi-million dollar business idea is just write it down.
1:20
Keep a notepad with you, I don’t care if it’s on your phone, or if you tattoo it across
1:24
your chest, doesn’t bother me.
1:26
Just make sure you have it somewhere where you can review it.
1:30
Skill number 2 is to just look for freaking trouble.
1:33
How many times do people tell you to stay out of trouble?
1:36
No, NO!
1:37
That’s not going to make you money.
1:40
Look for something that irritates or annoys people.
1:42
When you find that, chances are, people will empty their bank accounts on you.
1:49
I’m serious, it works!
1:51
It works a lot.
1:55
Skill 3 to find a multi-million dollar business idea.
1:58
Look for customer’s complaints.
2:00
It goes along with skill two “looking for touble.”
2:04
Two great places to look for customer’s complaints are Amazon customer reviews, and the Better
2:10
Business Bureau(BBB).
2:11
These are places where customers congregate to tell you the problems or the greatnesses
2:17
they’re seeing.
2:18
If there are enough customers complaining about one thing I think that means you found
2:22
a pretty good business idea.
2:24
Skill 4, Facebook negative keyword search.
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People are always complaining about things in their lives.
2:30
If you go to Facebook it acts as a search engine for negative complaints.
2:34
If you go to the search bar, and type in negative key words like “annoy” or “hate” or “I’m pissed.”
2:41
You are going to find people complaining about companies, items, ideas, products.
2:48
If you find enough people complaining about one thing, you have it, a good business idea,
2:56
and you validated the customers.
3:00
Bonus round, fight!
3:03
What happens when you combine two proven business ideas?
3:06
You mix and match them, and see what you can find.
3:09
Let’s say that you take Blockbuster video, and you combine it with vending machines!
3:16
Two very separate ideas, but you get redbox, and we all know that redbox is awesome.
3:21
I’ll bet you guys have used redbox within the last week.
3:25
What if you combined libraries with ebay.com, that’s right, you get amazon.com that is a
3:31
sweet website everyone goes on, I’ve even mentioned it earlier in this video.
3:35
If those companies are able to mix and match and create multi-million dollar ideas, why
3:39
can’t you?
3:40
I’m going to start you off on the right foot.
3:42
Combine potato chips and khaki pants, go!
3:47
Just start writing it down, I’m not going to tell you the answers.
3:50
Thanks so much for watching our video today, make sure to subscribe to our channel if you
3:54
want to see more videos like this, leave a comment in the comment section below if you
3:58
have any questions or you want to see us make a video about something specific.
4:02
Also, check out the links in the description, they are links from the video to give you
4:06
more information.
4:07
Also, you can sign up for our email newsletter if you want more information regularly
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about this.

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