I Want to Start a Business But Have No Ideas: A Complete Guide (2024)

Introduction

"I want to start a business, but I have no ideas."

If you've thought this, you're not alone. Many aspiring entrepreneurs and even serial ones struggle with this problem.

You spend hours mindlessly browsing the internet, only to later stare at a blank page, paralyzed with anxiety going through the roof, waiting to materialize an idea with enough potential to start building right away.

And it only gets worse when seeing people all over the internet flexing their MRR ($10k / month) or excitedly announcing that they are negotiating the sale of a product they've built in a couple of weeks.

I’ve been there too.

And after feeling that many times, after many failures and a few successes and learning from extremely successful solopreneurs, I’ve come to realize something that may sound counterintuitive but it’s the hard truth:

Great business ideas rarely come from random strokes of genius.

99% of successful business ideas come from a systematic approach to identifying and solving real problems through direct experimentation or observation. The most successful ones usually solve a niche problem in such an obvious way that it makes you think: "Why didn't I come up with this simple solution?"

And here's the good news: problems desperately needing better solutions are all around us. Some are emerging right now, while others have existed for years, waiting for someone to solve them in a new and better way.

What You'll Learn

This guide will show you:

• What actually is a good business idea (it's not what most people think)
• How to generate more (and better) business ideas
• How to know if an idea has potential before investing time and money
• Exactly what to do next once you have your idea

What Is a Business Idea (Really)?

A business idea isn't just a random thought paired with imaginary revenue projections (like '1000 users × $10 = instant success!').

We've all done it: getting excited about an idea and rushing to build it, simply because we thought it up and fell in love with our idea and with those perfect-looking numbers.

This enthusiasm is great, but here's the hard truth:

9 out of 10 times, this approach leads to failure. You end up with wasted time, depleted resources, and skyrocketing opportunity costs.

So let’s start with a definition of what a good business idea is.

A good business idea solves a real problem or fulfills a genuine desire, driven by demand from people who are both able and willing to pay for it. It should be delivered in a profitable and scalable way while offering a superior alternative to existing solutions.

Note: From time to time, new products appear that create new markets, but this is extremely rare and they are usually backed by tons of VC money.

Let’s dissect it and go step by step:

1. Solves a Real Problem or Fulfills a Desire

Many companies fail because they create solutions without a clearly defined problem, focusing on “vitamins” rather than “painkillers.” A successful idea addresses a genuine pain point that basically helps people save time, make money, or improve their status.

2. Has Provable Demand

Having deep knowledge of a particular market or process can reveal firsthand frustrations and unmet needs. However, a strong business idea must go beyond gut feeling - it requires concrete evidence that people want your solution. This evidence can come from multiple sources:

• Being part of the target market yourself and understanding its size
• Conducting thorough market research to validate demand
• Performing keyword research to measure search volume for terms related to the problem you're solving
• Analyzing existing solutions and their market penetration
• Gathering feedback from potential customers

The key is to move from "I think this might work" to "I know there's demand because..." with data-backed validation.

3. People Will Actually Pay For It

A solid business idea targets a market with both the desire and the ability to pay, offering a clear path to monetization and a validated price point that ensures value exchange and sustainability.

4. You Can Reach Customers Profitably

A good business idea must have identifiable customer acquisition channels, cost-effective marketing strategies, and scalable growth potential. Even if you identify a real problem with high demand, the idea won't be viable if you can't effectively reach your target market due to factors like market saturation or strong, well-positioned competition.

I learned this lesson the hard way. In the past, I've invested time building apps simply because they solved a problem I personally experienced. However, when it came time to launch, I discovered I couldn't sustainably reach my target customers in crowded markets. The cost of acquiring users made the business model unsustainable.

5. You Can Actually Build It

A strong business idea must have realistic resource requirements and be achievable with your current or obtainable resources. This means considering several key factors:

• Do you have the necessary skills, or can you realistically acquire them?
• If you need upfront investment, can you secure it within a reasonable timeframe?
• Can you create a minimum viable product (MVP) to validate your idea quickly?

This is especially crucial for digital products, where the ability to spec out and build an MVP can make the difference between success and failure. Your idea should present a clear path from concept to market entry, allowing you to validate assumptions efficiently before making major investments of time or money.

Common Myths That Hold People Back about business ideas

❌ Myth: "It must be 100% original"

✓ Reality: Most successful businesses improve existing solutions. Facebook wasn't the first social network; Google wasn't the first search engine.

❌ Myth: "It needs cutting-edge technology"

✓ Reality: Sometimes the simplest solutions are the most successful. Look at Craigslist, Shipfa.st , nomadlist or HeadshotPro.

❌ Myth: "I need lots of startup capital"

✓ Reality: Many of today's successful businesses started with 0 upfront investment. Bootstrap first, raise money later if needed.

❌ Myth: "It has to be revolutionary"

✓ Reality: Small improvements to existing solutions often build better businesses than revolutionary ideas.

Remember: The goal isn't to come up with the "perfect" idea - it's to identify problems desperately in need of a simple solution in a niche you can reach with people who are able to pay for it.

How to Generate More (and Better) Business Ideas

You have and have had more business ideas with a lot of potential than you think.

The problem is that we don't look at them through the 'lens' I showed you earlier. Plus, if we lack experience or capability, we automatically assume they won't make sense or work.

Good business ideas:

1. Are all around us.
2. May seem nonsensical at first.
3. Can come from undeveloped 'bad' ones (that's why I urge you to document everything that inspires you and any idea you have, no matter how crazy it seems) [research screenshot]
4. Emerge from problem discovery (expose yourself to new problems to discover issues firsthand).
5. Come from problems being shared right now (research communities that interest you where you may have relevant experience and can identify common pains).

Save and categorize every idea you have in MakerOps

1. Good Ideas Are Being Created Everywhere, All the Time

Ever heard a 'guru' talk about their ideas?

Don't listen to them.

New problems are constantly being created around us, in addition to all the existing ones that remain unsolved or are inadequately addressed.

2. All Ideas Can Sound 'Crazy' at First

It's common for ideas you think won't work to succeed, while others that sound perfect don't make a penny.

3. Save and Categorize Every Idea You Have

[Include Marclou tweet] Whether you see great potential or little, whether they seem surreal or not, I recommend saving and categorizing them all.

Some might not make sense right now, might need more attention later, or most importantly: might lead to stronger ideas later or when combined with other ideas.

Don't underestimate any of them because, and this has happened to me many times: you'll see someone else bring them to life successfully later.

4. Expose Yourself to New Problems

When you try new things, learn new skills, and step outside your comfort zone, you discover problems you never knew existed.

Here's a personal example: I had never created TikTok content before. When I started, I quickly realized video content was completely different from the written content I was used to.

To make quality TikToks, you need compelling hooks, well-structured scripts, and a systematic approach to content creation with reusable templates. None of these were readily available.

This frustration led me to create aitor, an app that helps TikTok creators make killer videos faster by helping them write better scripts and hooks and reusable templates.

I don't know if aitor will succeed, but that's not the point.

By taking on a new activity (creating TikTok videos), I exposed myself to unsolved problems that I wouldn't have discovered otherwise.

This led to several business ideas, including one I believe has real potential.

5. Research Communities You Know and Want to Help

Communities exist for virtually everything today. You'll find them on Reddit (the world's largest forum network), Facebook groups, Telegram channels, and countless other platforms. These spaces bring together people from across the globe who share common interests, hobbies, professions, and challenges.

These communities are goldmines of business opportunities.

Why?

Because they're filled with people openly discussing their problems, frustrations, and needs - problems that you could potentially solve with a product or service they'd gladly pay for.

Remember: a successful business is simply a sustainable way to solve problems for a specific group of people.

The key is to join these communities with genuine interest, participate authentically, and listen carefully to what people are saying. This hands-on involvement is one of the most effective ways to uncover profitable, scalable business ideas.

How to Evaluate if a Business Idea is Good and Viable

Once you have a few rough ideas, evaluating their viability to decide which ones to pursue is quicker and easier than you might think.

You'll need to discover if you're really solving a problem, if people are willing to pay for it, how many potential customers you can reach, and whether you can create a better alternative to existing solutions.

While this process might seem overwhelming at first, I'll break it down into simple, actionable steps.

Let's go step by step:

1. Am I Really Solving a Problem?

It's not enough that you think it's a problem. You need evidence that others see it that way too. Here's how to find out:

• Search social media and forums for conversations where people express this frustration
• Ask directly in relevant communities
• Check if similar products/services solving the same problem have active users.
• Does the problem you identify cause actual friction for users? Or could they live as they are without the solution you envision?

2. Can I create a compelling value proposition?

Even if you're solving a real problem, you need a clear and compelling reason why customers should choose your solution over alternatives. This includes not just direct competitors, but also how people are currently solving the problem (even if through manual workarounds).

• Clearly articulate how your solution is different or better than existing alternatives Identify specific pain points your solution addresses that others don't.

• Define concrete benefits users will get (save X hours, increase revenue by Y%, etc.)
• Ensure your value proposition resonates with your target market's actual needs, not just what you think they want.

3. Are People Willing to Pay for It?

Often, people say they love an idea but won't open their wallets. Some ways to validate this:

• Find similar products and analyze if people are already paying for them
• Create a simple landing page and measure real interest (clicks on the buy button or a waitlist could do the job).
• Talk directly with potential customers to determine if they would pay for your solution and what price point they find reasonable.

4. Can I Reach My Target Market?

No matter how good your idea is, it's worthless if you can't reach potential customers profitably. You need to identify:

• Where your potential customers are (social networks, communities, platforms…)
• How to capture their attention
• Cost of reaching them
• Whether you can do it scalably

For example, if your idea is an app for dentists, you need to know:

• Where do dentists learn about new products?
• What channels do they use?
• How much does it cost to advertise in these channels?
• Are there enough accessible dentists to make the business profitable?

Some ways to validate this:

• Research marketing channels used by competitors
• Calculate approximate customer acquisition cost
• Identify communities and groups where your target audience hangs out
• Evaluate if you can create content that organically attracts customers
• Analyze if you have access to influential people in your market

Don't underestimate this point. Many ideas fail not because the product is bad, but because the cost of acquiring customers is higher than what they're willing to pay.

5. Can You Make It Profitable and Scalable?

This final point is crucial because it determines if your idea can become a sustainable long-term business. It's not enough that it solves a problem and you can build it; it must be able to generate profits and grow.

Create a database of refined business ideas with MakerOps

Profitability Assessment

To evaluate potential profitability, consider:

1. Potential Revenue

• How much are customers willing to pay?
• What's your accessible market size?
• What revenue models are possible? (subscription, one-time payment, freemium...)

2. Costs

• Fixed costs (servers, tools, staff...)
• Variable costs (per customer or usage)
• Customer acquisition cost (CAC)
• Marketing and sales expenses

3. Margins

• What net profit can you make per customer?
• Is it enough to sustain and grow the business?
• How does it compare to competitors?

Scalability Analysis

Scalability determines if you can grow the business without costs increasing proportionally. Analyze:

1. Automation Potential

• Which processes can be automated?
• Do you need manual intervention for each sale?
• Can you serve 100 customers as easily as 10?

2. Resource Requirements

• Do you need more staff to grow?
• Do costs scale linearly with revenue?
• Are there bottlenecks limiting growth?

3. Market Potential

• Are there enough potential customers?
• Can you expand to other markets or segments?
• Is the problem universal or highly localized?

Positive Signals:

✓ High gross margins (>70%)

✓ Low variable costs

✓ Automatable processes

✓ Large, growing market

✓ Geographic or segment expansion possible

✓ Customer Lifetime Value (LTV) significantly higher than CAC

Warning Signs:

⚠️ Very tight margins

⚠️ High dependence on manual work

⚠️ Limited market size

⚠️ Costs scaling linearly with revenue

⚠️ Customer retention challenges

⚠️ CAC (Customer Acquisition Cost) close to or higher than LTV (LifeTime Value)

Remember: You don't need everything perfectly calculated from the start, but you do need a clear idea of how the business can be profitable and grow without costs spiraling out of control. The key is demonstrating that for every dollar invested in acquiring a customer, you'll get significantly more in return.

Common Mistakes to Avoid

Now that you understand what makes a good business idea and how to generate more, it's important to know the most common mistakes rookie entrepreneurs make at this stage.

I've seen many talented people with resources get stuck or waste valuable time falling into these traps. Let's look at what they are and how to avoid them so you can move forward effectively with your ideas.

1. Analysis Paralysis

It's tempting to want everything perfectly planned before starting. But the reality is you'll never have all the information or find the perfect moment. The key is to start with the minimum viable product and learn as you go.

A good sign of this is a product that actually solves the problem you are tackling but you are not perfectly comforted with its look and feel and performance.

2. Waiting for the Perfect Idea

There's no such thing as a perfect idea. The best businesses usually evolve significantly from their initial concept.

Take Instagram, for example - it started as a simple location-sharing app with photos before becoming the social media giant it is today.

Or consider Slack, which began as a gaming company before pivoting to become the gold standard for workplace communication, ultimately leading to its $27.7 billion acquisition by Salesforce.

3. Fear of Failure

The fear of failure often paralyzes aspiring entrepreneurs. But here's the truth: in entrepreneurship, failure is simply a learning opportunity that provides valuable insights about what doesn't work.

Take Pieter Levels for example - while he now generates $3-4 million in annual revenue as a solopreneur, only 5-7 out of his 100 product attempts became profitable.

4. Endless Research

There's a difference between useful research and procrastination disguised as research. If you've been "researching" for weeks or months without taking concrete action, you're probably in the second group.

5. Assuming Instead of Validating

"I think people would want this" is not validation. You need real evidence that demand exists for your solution, ideally from people willing to pay before the product even exists. Start small - be your own first user to experience the benefits firsthand, then expand testing to trusted colleagues and relevant contacts in your network.

6. Relying Only on Friends and Family Feedback

Your friends and family want to support you and avoid hurting you. Therefore, their feedback tends to be positively biased. You need honest opinions from strangers and, most importantly, from real potential customers.

7. Ignoring Negative Feedback

Negative feedback, though it hurts, is pure gold. Don't dismiss it as "haters" or "people who don't understand your vision." Analyze it objectively - it may contain crucial information to improve your idea or avoid costly mistakes.

8. Skipping Market Research

"There's no competition" is almost never a good sign. If nobody is solving that problem in any way, it's probably because there isn't a real market for it. At the same time, if the problem actually creates friction for your target customers, they are likely already solving it somehow - often with general tools not specifically designed for that purpose (think Excel spreadsheets or Apple Notes).

Resources for Further Development

Tools and Platforms

• Business model canvas
• Market research tools
• Competitor analysis software
• Customer survey platforms

Learning Resources

• Business podcasts
• Entrepreneurship blogs
• Online courses
• Industry publications

Conclusion

Having a good business idea isn't about luck or waiting for a magical moment of inspiration. As you've seen, it's a systematic process that requires:

• Understanding what makes a business idea viable
• Actively exposing yourself to problems worth solving
• Embedding yourself in communities where your target customers gather
• Documenting and analyzing all ideas that emerge
• Validating ideas in a structured way before investing time and resources

Next Steps

If you've made it this far, you already have the necessary tools to start. Here's what I propose:

1. Create your "problem and ideas journal" today (it can be as simple as a note on your phone)
2. Join 2-3 communities related to your interests or expertise
3. Identify 5 recurring problems in these communities
4. Analyze these problems using the criteria we've covered
5. Select one idea and create a test landing page in the next 30 days

Remember: the path from idea to profitable business isn't easy, but it doesn't have to be mysterious. Focus on solving real problems, be methodical in validating your ideas, and above all, take consistent action.

You don't need to be a creative genius or have the idea of the century. You just need to be systematic, stay alert to problems in your environment, and validate your ideas before jumping into developing them.

And now... what problem are you going to start solving?