39:50My 6-Step Process To Find +$1,000,000 Business Ideas (#479)
From My First Million · Published Jul 4, 2024 · Watch on YouTube
TL;DR
Speaker 1 outlines a six-step research methodology for finding million-dollar business ideas: seek demand, identify audience size, analyze market leaders, find their shortcomings, determine effective business models, and discover unsolved problems. He demonstrates using tools like SimilarWeb, AnnualReports.com, and Companies House to uncover signals (e.g.
Key insights
- Reading annual reports of public companies (e.g., 1-800-Flowers, Heineken) for single lines like “fastest growing segment” reveals emerging trends (succulents, non-alcoholic beer) that can inspire new
- SimilarWeb provides a free traffic estimate for any website; pairing this with annual report findings helps validate demand and audience size.
- UK Companies House allows anyone to look up financials of LTD companies; example: a VPN review site with 12M visitors, £18M revenue, £16M profit, revealing a high-margin affiliate business model.
Want the full analysis - every claim cited to the second it was said?
This page only shows a teaser. Sign up to chat with the complete, cited breakdown of "My 6-Step Process To Find +$1,000,000 Business Ideas (#479)".