What are the top 10 most profitable business?

A good and appropriate idea is the first building block for every profitable project, and you may have many ideas that, if well studied, could lead to a successful project. Whatever activity you choose, make sure that you love doing it, and that others are willing to pay the price for it. In order to obtain your products or services.

8 ways to get a profitable business idea 2020

In this article, we will present to you 8 ways to get a successful project idea that suits your qualifications and capabilities:

1. Turn your hobby into a project

Among the most successful projects are those that start with a hobby that develops into professionalism and a source of creativity for a distinguished work, and develops into a truly successful project that makes its owner one of the successful entrepreneurs.

What explains the remarkable success achieved by some hobby businesses is that the hobby is always associated with passion. Passion is what wakes you up in the morning, what keeps you going when faced with setbacks and uncertainties as you progress, and when the day ends. Passion is what prevents you from receiving and returning to the “safe” path of working for someone.

2. Save what you need and can’t find

Have you searched for a product or service and did not find it in your area? He tried to provide what you needed and found it difficult to find. One of the most famous film printing companies in Uzbekistan was started by its owner when he could not find a place to print his films there. Today, his company is worth nearly $100 million.

As for our Arab region, and one evening, while Sheikh Saud Bahwan was in the Sultanate of Oman inspecting one of his projects related to cars, one of the drivers asked: What can I do if my car breaks down and I need help at night? The driver replied, “You only have to wait until the morning.” This remark did not pass by Sheikh Saud, and he decided to establish service centers that operate around the clock and throughout the year to satisfy his customers. Now he owns an empire that includes thousands of employees, hundreds of branches, and millions of items.

3. Solving a problem… a profitable project idea

Search for problems and find solutions in your own way, and ask everyone around you about the daily problems they face. They may suggest new ideas to you. Necessity is the mother of invention. The invention and marketing of most stationery was due to problems and needs affecting the daily work of employees.

The search for a solution to a problem, whether large or small, is one of the foundations for obtaining a successful and profitable project idea. The smallness of the problem does not mean that it is not profitable, because the small problem that 5 people suffer from is considered small, but is it still small if thousands or more people suffer from it? of course not.

4. I am different from others

When you offer something different from what others offer, you will attract a segment of the market that targets this difference and distinction, and this means that the good or service that you provide must be unique, and that you know it and know it to your customers, and the results of this adventure do not recognize compromise solutions, so either you will succeed. Brilliant or fail miserably.

5. Start where others have left off

You can benefit from the progress and technological developments around you. At a time when merchants were supplying office furniture and simple equipment, Abdul Rahman Al Jeraisy introduced the field of office technology and equipment to the Saudi market, starting with 40 thousand riyals, and choosing to focus in the field of information technology and computer networks. From a simple beginning, where only one person worked with him, he now works There are more than 5,000 employees and workers in his companies, including 4,000 employees working in the field of technology.

6. Look for emerging markets

Start in the pristine markets that the adults did not pay attention to, and do not forget that these adults started small. If you discover a gap in the market, you have a profitable project idea without competition. There is Rafik Hariri – may God have mercy on him – who accepted a challenge that involved a lot of adventure through his participation with the French company “Oger” in establishing a hotel in Taif, in a period of nine months, after major companies apologized for accepting this challenge at the time, to achieve his first major achievement. Then he establishes “Saudi Oger” and sets out to become a successful businessman.

7. Improve what others do

This is considered an alternative approach to inventing new ideas. The “Singer” company, for example, did not invent a machine. sewing, but added to it the development of mechanical movement with the man instead of the hand.

8. Create new ideas

A project idea can be obtained through innovative ideas. There are always solutions to problems, but they are often traditional and nothing new, so the innovative project is based on providing proposed new solutions to existing problems in one aspect of life.

Many examples can be given in this regard, for example: a nail holder used by builders, contractors, and carpenters when hammering nails into wood and building in general. He must hammer nails completely safely, without hurting his fingers. This innovation is just an easy idea, but it is genius at the same time, as it involves a step that contains a radical solution to a difficult problem that people constantly face in their daily lives. a specific industrial sector. It was actually achieved, and was one of the most important innovations in the exhibitions of Britain. This is just an example for illustration only.

In conclusion,

When a profitable project idea comes to your mind, write it down and leave it in your head for a while to complete all its aspects and open your mind to all possibilities. You don’t have to run and rush with the first business idea you come up with, but you have to discover the idea that matches your skills and desires first, dream, then think, then plan, then start implementing and creating your future.

And if you insist on imitating the idea of ​​​​a successful project, at least start where others have finished developing and improving, because the market is ruthless.