Profitable Business Ideas

Lesson One
How to generate and use profitable business ideas

Profitable business ideas through success guidelines. Turn your passion into profit. Own your own business.

Small profitable business ideas on how to create a PIEC experience for wealth.

Every day millions of people lose their hard earned savings when they are ripped off by scams. Regretfully not all of this problem is caused con artists. Many people are so miserable at work that they happily abandon their jobs, hoping to become rich. These people are vulnerable and all the con artist does is push the unhappiness over the edge. Quitting work is their goal. Such folks then lose all their money when they invest in a scam rather than profitable business ideas. Then they are then both broke and unemployed.

Neither the workers or the con artists really get rich. The foundations of almost all fortunes are in ownership of profitable business ideas. Making money in business is easier than any other way. Modern technology, low cost computing, inexpensive transportation and cheap, reliable communication makes it simpler to have your own business today so you can cash in on profitable business ideas.

Small, fast and flexible are now beautiful in business! We as small business owners are more capable of jumping quickly on profitable business ideas than ever before. This can bring quick profit and safety. We’ll rarely understand a business better than one we own ourselves.

Warren Buffet, one of the world’s great investors, recently confirmed the importance of finding profitable business ideas when he shared some tips with college students on how to invest. Here are the core points he shared:

1. Do what you like
2. Money isn’t everything
3. Work only with people you like
4. Buy businesses, not stocks
5. Invest only in what you understand
6. Don’t over diversify
7. Keep looking for new opportunities
8. Buy businesses you plan to keep for life
9. Look for businesses that are available at a good price

A PIEC Experience

Buffet’s teaching perfectly describes the concept of turning profitable business ideas into safety and wealth through PIEC business and investing. PIEC is an acronym for “Personal Income Earning Corridor”. This concept of financial prudence differs greatly from traditional approaches of accumulating wealth.

Traditionally people get jobs to create income. They totally ignore the search for profitable business ideas. They work to live and support their lifestyle while attempting to spend less than they earn. Maybe the savings will bring, some time in the future, a lifestyle of doing something enjoyable without work.

PIEC investors reverse the priorities. Instead of working for money to save and invest. They focus their prime effort on doing something they enjoy right now. Then they learn how to find profitable business ideas that relate to their effort. They learn to create “Avenues of Abundance” that combine lifestyle with the necessary task of accumulating wealth.

For example, if a PIEC investor loves golf; instead of working six days a week, 50 weeks a year just to golf on Sundays and during short vacations, instead he’ll find profitable business ideas and create a business in some aspect of the golfing trade.

In another example, a client of mine, who loved animals became a vet. But he learned that the vet’s lifestyle was not one he enjoyed. He wanted to travel and move around, which is difficult for a professional who needs to stay at his office and build a practice. So he started looking for profitable business ideas that related to animal health. He built a business that prepares special animal foods for race horses. Now he travels globally visiting horse breeders and makes much more money as well.

PIEC investors combine profitable business ideas with money, time, energy and desires. They generate income doing something desired. Desire and fulfillment become at least as, if not more, important as the money.

Find Profitable Business Ideas That You Love!

The reason PIEC investing works well is that when we love profitable business ideas, we do the business better, for longer and with greater enthusiasm.

These are wealth building attributes that cannot fail. Yet PIEC investing does not mean we should suddenly abandon our jobs and try becoming golf pros, when we have never been able to break 100. Even when we find profitable business ideas, we don’t always want to make a rapid shift. Smart PIECS often require a gradual approach.

For example, as a writer and lecturer, I was never fully satisfied sitting behind a desk or standing on a podium all day long, even though I was making over a million bucks a year. I’m the physical, outdoors type and yearned for exercise and the wilds of the deep woods. “What good’s the money if this isn’t fun?” I often asked myself.

Rather than quit writing and teaching, I looked for ways to combine these professions with profitable business ideas that relate to the outdoor life. Through research I learned that many city folk like myself yearn to be in the primitive outdoors. So I bought an isolated farm high in the Blue Ridge Mountains and an Andean plantation high in Ecuador where I am developing seminar centers with charming but simple dwellings, set in rustic surroundings, with clean water and pure air. Now I can teach in a primitive setting and after I finish the writing or talking, I run up into the woods with an axe and clear another cabin site or something physical like that. I’ve combined my writing with profitable business ideas that include physical work and have blended the life I want, with my readers’ needs in a way that makes great financial sense. The cabins are projected to bring more profits than most stocks or bonds could ever return.

The process of finding and building on these profitable business ideas has taken six years and we are far from finished. But while I’m doing what I love, who cares? This is one of the great benefits of having profitable business ideas that blend into PIEC investing. We can slow down and enjoy the work instead of always rushing ahead, looking for something more.

Those who work nine to five can start PIEC businesses part time if they are too uneasy to quit their jobs. Others, who like myself, already have a business can slowly shift their profitable business ideas in a sensible way and let it evolve toward their PIEC.
But where do we start?

There is a seven step process we can all use to turn profitable business ideas into a profitable business.

The first step is to get a clear idea or vision of our dream. We need to clearly identify and define the profitable business ideas we have. This is sometimes harder to achieve than it seems. We are so deluged with false ideals from Washington, Wall Street, Madison Avenue, etc. that we have to stop and really take stock.

There is a very practical economic reason to look inwards for wealth. Warren Buffet recommends that we only invest in what we understand. What can we understand better than ourselves?

This inner search will lead us to an ideal that begins the second step which is gaining enthusiasm for our profitable business ideas. How can we be anything but enthusiastic about finally fulfilling our deepest dreams? The enthusiasm leads to the third step; gaining an education.

Third, we need to find out everything about our profitable business ideas. (This is where this website really pays off. There are few better sources of contacts and information about having your own business). To succeed we must become real experts in the product or service we offer.

Fourth, this educational process allows us to develop an intelligent, focused business plan we can use to turn our profitable business ideas into action. The action is the fifth step which brings us the experience. Experience gives us the sixth step in refining our profitable business ideas through, a financial loss or profit.

We always profit in increased knowledge which creates the seventh step, more ideas.

Then the entire cycle starts all over again: Idea, Enthusiasm, Education, Action, Experience, Financial Profit and New Ideas.

This is a way to follow Warren Buffet’s advice to keep looking for new opportunities. Business is rarely static. It is an ever evolving process instead.

This seven step cycle may take days, weeks, months or years, but the moment you begin to look at profitable business ideas in this way you’ll start moving into an avenue of affluence where you love your work so though money isn’t your main goal it comes more easily.

The Building of Wealth

The building of wealth becomes a fulfilling, enjoyable process of service. Great financial rewards are an extra benefit rather than ultimate goals. Worries about money become less dominant and we gain an inherent power because we want to work harder and longer. We don’t need to search (and spend) so much for fulfillment and are more likely to excel financially.

There is no way to secure freedom, security and wealth as by turning profitable business ideas into own business. The best way to achieve success with your own business is by doing something you love.