007: How to Come up With a Business Idea

Noah Kagan Presents

Noah Kagan

Entrepreneurship, Business

4.7 • 1K Ratings

🗓️ 31 January 2017

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode I break down my formula for creating new business ideas. By simply recognizing the things you want, you're guaranteed to always have at least one customer and that's you.

I also break down and debunk 3 common myths of "The Wantrepreneur" and give you a better way to start.

Not to #HumbleBrag but my old boss told me that AppSumo would never work. 7 years later AppSumo reaches nearly 1 million people a week, SumoMe helps over 150k sites a day, and our company is an 8 figure business. It all started because I simply wanted free software.

The Challenge: Spend today thinking of all your shower thoughts. Even the dumb ones.

Full show notes at http://okdork.com/podcast/7

Transcript

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0:00.0	Welcome to Noah Kagan presents.
0:04.4	What's up everyone?
0:09.4	It's your boy Taco Killer, aka Rabbi Can't Lose, aka Noah Kagan.
0:15.0	Today I'm going to talk about how to come up with a business idea.
0:18.0	So quick premise, hashtag humble brag.
0:22.0	I started Afsumo, which reaches almost a million people a week on our daily deals for entrepreneurs.
0:27.0	I have, you know, we have sumo meat which helps over 150,000 sites a day.
0:32.0	So there's a good chance if there's something I come up with. over 150,000 sites a day.
0:32.8	So there's a good chance if there's something I come up with.
0:35.1	If I have an idea, I can promote it to a lot of people.
0:37.9	Hello, fortified poop statues.
0:41.2	So to give you an idea, these are an eight figure business combined that I've been able to create over the past years
0:47.3	But the most important thing is how did I come up with these business ideas?
0:50.9	It's simple.
0:53.2	You gotta recognize the things you want.
0:56.0	So for example, with AppSumo,
0:58.2	I just really wanted free software products
1:00.1	if you get real with it.
1:01.3	Be real, real, real. Sumo me.
1:04.0	You know, we built marketing tools for email collection, for social sharing, that we just wanted for ourselves.
1:11.0	Monthly 1K.com, it's our course about how we built AppSumo. Frankly, I was just tired of answering people's questions one by one of how I started a company. Mint.com when I joined there, I just really wanted a solution for free to help me make more money. Jewish Paradise.
1:26.4	So think about what's the pattern between all this? They were all built around needs that I have.
	...

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