Learn From The Smartest Millionaire Minds in Business

How To Generate Million Dollar Business Ideas In 5 Steps

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So you’d like to start a million-dollar business and you’d like to know how to generate some million-dollar business ideas, yes?

Then you’re in the right place to learn how to do that.

Multimillionaire and Bestselling Author of Secrets of the Millionaire Mind, T. Harv Eker talks a lot about the 14 years of his life when he really struggled financially.

Not only because it was the toughest time of his life, which is what most people can relate to in their present situation, but because it’s what led him to where he is today…

Helping YOU and countless other people find the road to financial freedom

Let’s explore Harv’s perspective on how you can generate ideas for a million dollar business.

You might already know this, but Harv’s business is successful because money matters are a big pain point for many people.

People are most likely to give you their hard-earned money when you’re solving their problems. -T. Harv Eker

Now, he’d like to encourage you to consider what pain points and problems you can help people solve.

And what’s the easiest and best way to do this and get rich in the process?

If you’re not sure, Harv has 5 easy steps to help you figure it out.

Step #01 - Identify Your Own Personal Pain Points

First, Harv suggests that you make a list of each of your own personal struggles.

It could be anything from struggling to open a jar to having a major health scare.

Whether they’re big or small, these are all problems, according to Harv.

With a current global population of over 8 billion people, you can be sure that hundreds, perhaps thousands or even millions of people are not only struggling with the same thing, but are beyond willing to pay someone to help them.

And Harv asserts that someone could be you.

List out your personal struggles. Keep in mind that many others may be dealing with the same struggles and will pay you for a solution! -T. Harv Eker

Step #02 - Identify Solutions for Your Personal Pain Points

Now you can make a new list by using the information you recorded on your first list.

Harv says to take your personal pain points or problems and find creative solutions for each of them.

Let’s say you’re annoyed by having to drag your own luggage around the airport.

You know, from your home all the way to the airport, then on the plane and off the plane, then to your destination or accommodation or your hotel.

Perhaps the solution to this pain is to create the kind of service people would be willing to pay for that will get your luggage from one door to the next.

Or how about solving the uncertainty around knowing when the food in your fridge becomes spoiled?

You could create customizable containers or storage vessels that could tell you when your food’s about to expire, suggests Harv.

See, it can be pretty simple to come up with a potential million dollar business idea when you start looking at how to make your own life easier!

So before we move to the next step, take a moment to absorb this new list.

Allow yourself to feel the satisfaction and pride that comes from generating these simple solutions.

It takes creativity, determination, strength, and often courage to live through problems and offer innovations to combat them, says Harv.

So why should you focus on the problems you’ve already solved?

Firstly because as you just experienced, it feels really good.

And secondly, because people have to truly believe that you understand what they are going through AND that you actually know the way out of the situation.

That makes sense, yes?

Take the problems on pain points you experience - ones you know OTHER people also experience - and find solutions for each of them. -T. Harv Eker

Step #03 - Identify Your Own Strength

On your third list, Harv mentions that you’ll write down what you are good at.

Like what you did with Step #01, he asks you to include everything.

You may find this step a little tricky if you’re one of the very many people who don’t enjoy talking about their strengths, but Harv insists that this step is necessary.

One way to move beyond this roadblock is to pretend that you’re your very own agent.

Agents effortlessly and gladly spout off every single thing their clients do well.

By the way, you may wish to keep this hint on hand as it will be very helpful when you arrive at the marketing strategy of your million dollar business too!  

Once you’ve completed this list, Harv urges you to take a moment to look at what you wrote.

This list right here comprises the things that make you unique, that make you stand out, and ultimately make you, YOU.

Embracing your strengths and being consistently authentic goes a long way to getting people’s attention, their trust AND their money and loyalty to the product or service you offer. -T. Harv Eker

Step #04 - Identify What You Enjoy (and Are Also Good At) Doing

Now’s the time you start editing your list of personal strengths, asserts Harv.

Write down each of the talents and skills you really like applying AND are really, really, really good at.

Capitalizing on your biggest strengths that you also have a passion for will not only make you more successful, it’ll make getting to that success a heck of a lot easier… and fun! -T. Harv Eker

Step #05 - Merge Your Identified Solutions to Your Problems with Your Passions & Strengths

This last step, Harv says is so simple, yet so powerful.

Put list #02 and list #04 next to each other.

Read through both of these lists and see if you can find combinations of solutions to your problems with passions and personal skills.

Write down anything and everything that grabs your attention, even if you’re uncertain about how you might turn those ideas into a service or a product.

And when you have an 'aha!' moment, or find yourself getting all excited, or even have a strong gut feeling about something you see…

Consider THAT as a signal toward the path you could explore as your potential million dollar business idea.

Take your time with this step, cautions Harv.

Your specific million dollar business ideas might have come to you immediately, or you might have to sit a while with the information you have.

Both outcomes are fine, he assures.

You can always brainstorm more possibilities later.

And there is, in fact, a great chance that your very best ideas will simply pop into your mind out of nowhere!

Merging your identified solutions to problems with your strengths and passions is a major step in creating a million dollar business! -T. Harv Eker

Conclusion: Get Your Million Dollar Business Idea Going!

What did you learn about yourself in this exercise?

How are you feeling after writing these lists and seeing the potential?

I bet you were surprised by what came up and you might even be wondering why you haven’t thought about turning your own struggles into profit before.

Just by doing this exercise, you’ve taken a major leap towards creating your million dollar business that will truly help other people AND set you on the right path to your financial freedom.

And this is just the first step.

If you would like to create a million dollar business and succeed in it, you’ll do well to know what most millionaires have in common and what the most important rule of wealth creation is.

If you desire to produce real wealth in your life and in your business, you must implement the correct strategies that help you, not hurt you.

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Frequently Asked Questions About a Million Dollar Business

Has your Mind ever wondered…

What is considered a million dollar business?

In simple terms, having a million dollar business means that your business has achieved a predetermined level of success generally measured in revenue of at least $1 million in annual sales.

How to generate a million dollar business idea?

Use the 5 steps in this exercise to generate your million dollar business ideas that can help a lot of people and benefit your bank account!

Look at the problems you have, find solutions to those problems, identify and capitalize on your strengths and skills, then merge your findings to create your million dollar business idea that you can present to others who require a solution to their problem.

Multimillionaire T. Harv Eker can show you the exact strategies to generate million dollar business ideas every 60 seconds, how to get started and how to run your business successfully and profitably.

How to make your first million dollars?

It took T. Harv Eker 2.5 years to make his first million and by comparison, that’s a short time in which to go from being broke and debt to becoming a millionaire.

Especially if you feel you have no experience in business.

But you have to start somewhere if you're going to create wealth, and you can always make corrections along the way.

There’s a lot more to making a million dollar business work and stay successful than the money that comes in and it would serve you well to have millionaire money habits if you’d like to create a life of sustainable success.

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Generar ideas de negocios [Translated from Spanish: Generate business ideas]

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Ser creativo, seguridad en las habilidades que posee y reforzarlas con conocimiento, tener objetivos claros, planificar las acciones y poner tiempo para cumplir cada acción, a través de un matriz donde lo puedan observar para ir avanzando en los logros

[Translated from Spanish: Be creative, confident in the skills you have and reinforce them with knowledge, have clear objectives, plan actions and set aside time to complete each action, through a matrix where you can observe it to advance in your achievements.]

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