How To Find Great Business Ideas?

Today we cover the story of a little-known Thai entrepreneur, his name is Itthipat Peeradechapan, nicknamed Tob because I can’t repeat that name over and over again. His story highlights how you can start a business starting from nothing. His story shows, that you can make money selling something as simple as seaweed to become a multi-millionaire!

Tob had an estimated worth of $600 million according to Forbes in 2018, at that time, he was the 50th richest person in Thailand.

In 2004, Itthipat founded Tao Kae Noi (Little Tycoon) Food and Marketing Co., Ltd. The brand sold fried seaweed snacks, which became highly popular among teenagers and office workers. In December 2015, the company had its initial public offer (IPO) on the Stock Exchange of Thailand, raising 1.8 billion baht.

How You Can Start A Business

There are five questions that I learned from Dane Maxwell, pulled from his podcast and book ‘Start from Zero” These five questions can start any business you might want. They are as follows and meant to be asked of someone else:

1. Over the last month, year, or a decade, what has been your most persistent and prevalent problem?
2. How do you currently go about solving this problem?
3. What happens if you don’t solve the problem?
4. What would your dream solution be? Or if you could wave a magic wand, how would you or what would you do to solve the problem?
5. Would you be willing to pay for the solution? If so, how much?

Use these questions as a springboard, to build a business that others have already stated they would pay for, what are people willing to do in order to build a fantastic business?

Thanks for listening, follow us on Instagram or Twitter