How to find and implement a successful business idea. Millionaire entrepreneur Roman Felik shared the secrets of creating profitable projects.
A successful idea can come unexpectedly. Businessman-millionaire Felik told about the secrets of creating profitable projects.
Beginner businessmen have a huge number of opportunities to create their project from scratch and quickly make it successful. The main thing is to understand where and how to draw ideas that can bring income. This is what the young Ukrainian entrepreneur-millionaire, creator of the project Instime Roman Felik talks about.
Over the years, he has come up with and implemented many ideas. In his experience, there are several patterns that help in business.
Don’t miss an idea
A good idea usually comes unexpectedly, during the course of normal routine tasks.
Such was the case with the Instime project, for example.
One day, according to Roman Felik, he happened to meet blogger Dmitry Kvashevsky at a SOCAR gas station. The blogger told him that he had a paid chat on Telegram to share his Instagram activity. At the time, there were only 200 people there.
“I saw that there was a chat room where people were engaged in mutual-propaganda, yes, and also pay for it. The monthly subscription fee for being in the chat room was $50. That is, a person who just put people together in a chat room and doesn’t do anything heavy, gets a total of $10,000 a month from two hundred users for it. The fact that people were interested in paying for it gave me the idea that they would also be willing to talk about it – and that’s a whole other scale,” he says.
This is how the idea of Instime was born. Roman Felik invited IT specialist Vadim Mashurov to work on the project.
“Together we built a team and within 8 months we managed to develop the project and attract investors. In the first month after the launch of the service 10 thousand people paid for it, which brought more than half a million dollars. And this was even without attracting additional advertising. And six months later the project was at a profit of $3 million a month,” says Felik.
Today the project has over 100 thousand users from 100 countries. And it all began with a chance encounter at a gas station.
The secret of Instime’s success
Instime is a service which helps users, both people and companies, to promote their personal and business pages on Instagram in order to be seen not only by subscribers but also by other people. That’s the cumulative number of views, likes, comments and saves.
Sharing activity between user pages, cross-promoting and advertising with bloggers – all of this closes the main needs of people in the world of social media.
“The success of our project is primarily due to human nature, namely the need for approval of others, for social recognition. Every like, comment and profile subscription is a dopamine surge, which gives a feeling of satisfaction. And for business this attracts new clients and increases check “- shares secrets of approach Roman Felik.
The uniqueness of the idea is that in addition to promoting an Instagram account, the service also has the opportunity to make money on the promotion of the service itself.
“At the peak, people who promoted the service earned tens of thousands of dollars a month. So a person can cover his basic needs – food, rent, clothes – with his participation in promoting the service. But if he is more strongly involved, he can earn money for his own house, a car and a more or less normal life,” says Roman Felik.
According to him, it is the element of networking business, the element of making a profit for the development of the service and the element of promoting his Instagram as a promotion of personality, increasing the importance, together gave such a result.
You have to be open to ideas.
A successful project benefits not only its creators, but also its users.
“To find such an idea, you have to constantly learn new things, have a better understanding of what people want and be ready to cut off 99 out of 100 ideas that come in,” Felik says.
And to do that, as millionaire entrepreneur Roman Felik points out, the mind must be open to new possibilities, and the focus must be on both finding a new solution and synergizing existing ideas.