Invent a gadget
Do you love electronics? Are you addicted to kitchen tools? Do you have an idea for a new gadget that will make your life easier, more enjoyable or save you money? If you can invent a gadget that others will enjoy also, then you could tap into a reservoir of wealth. Make sure you visit with your lawyer before you attempt to sell your invention to protect your assets and any future income.
Write a book
Do you love to write? Then why not write a book? It's not an easy market to break into, but if you're the next J.K. Rowling, then you will succeed. But remember, even Rowling had a tough time getting published. It took her agent a year to find a publisher willing to take on the book. She'd been turned down by many others. So, if you're going to write, you must do it out of passion, love for your story and your characters and take a risk that no one else will ever appreciate your work. However, keep Rowling in mind, a single mother writing a novel during nap time and late nights, and you too can be a success.
Develop a system
Have you ever spent time watching the shopping channels on cable TV? Ever notice how the big selling items are called "systems"? Everything today is a system. There are cleaning systems, food preparation systems, multi-media systems, storage systems - you name it. Do you have a system you could market? Something you've been doing for years that seems second nature could be a life-saving product for someone else who doesn't know where to begin. Systems sell. Figure one out and you could make a million.
Fill a need
You are a consumer. What do you find missing in your town or city? Are there services you need that you'd pay someone to provide? Why don't you be that provider? Draw up a business plan, talk to friends and neighbors about your idea to see what they think and if they'd support the business. If you get good feedback, take your business plan to your banker and see what your options are for loans. You should also speak with your attorney and tax professional to find the best ways to structure your venture and make sure your liability is limited and your family's assets protected.
Create a need
Did the world really need Starbucks? No. We all could have just continued to make coffee at home and we all would have survived quite nicely. But what Starbucks did was to create a need. They offered expensive drinks in an atmosphere that people loved. While no one truly needed to buy $4 lattes, they certainly were lining up for the opportunity to do so. Create a need that people will respond to and you will be well on your way to creating wealth too.
