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Ideas for business
Written by Greg Soffe   


Business Yeah

As a businessman I find myself talking to people a lot about business. One question I get asked most is where do you get your ideas for business from?

Finding an idea for a business can be the hardest part. You have to weigh up a lot of variables:

  • Will this work for me?
  • Will people want to buy what I am selling?
  • Will I want to do this with my time?
  • Will it make the money I need?

These questions can't readily be answered by anyone but yourself, however I am able to give you a few tips to guide you how to find that one idea that is right for you. The business idea that will make you love the business you choose.

1. Have fun

There is no point in running a business if you don't enjoy doing it. If you have an idea but can't see it being your absolute passion, it is probably not the best business idea for you. If you are going to sink your heart, soul and last $10 into a business if you want it to succeed then it is best you really have fun doing what you have picked as your business idea?

There is a good gauge here if you can absolutely see yourself getting up to go to work in the morning thinking about how great your day at work is going to be this idea is for you. If you think that you could at all see yourself getting stuck under the dismal black cloud of mediocrity in the morning just by the thought of the idea, then is time you went back to the drawing board. The key is that if you have fun with the idea then it is likely you will succeed with it. Don't worry you will know when you get an idea like this.

2. Skill sets

Skill sets are what you are skills you have to do a particular task. Look at your skill sets and see if there are any skills you have that allow you to do a job better/faster than the average Joe off the street. Can you make a business around these skill sets? Can you sell your skills?

This is the basis for most startup businesses and in all honesty it is likely the one that will generate the most revenue for you initially as no learning process/training or employees are required and you can start selling immediately at the level where your skills sit in the market. But do consider the long term, eventually you will want to work only on making your business better, can you employ people with similar skill sets at similar levels to you and still make money?

Don't go into this thinking you can charge your potential customers what your current boss pays you to use the skills. Chances are your business can't sustain that and you will not be competitive in the employment market.

3. Look around

Look around, have a look at other business. Are they doing well? Are they doing something that you could do better, or simply doing something you can do as well?

Go on a holiday (this works best if you go offshore) and have a look at business that are doing really well with an idea that has not hit your country/city/town yet that could potentially have huge demand. While on a visit to London recently I must have seen at least a dozen great business ideas in the space of a two hour walk that would have taken off anywhere.

Look online at established business, as there is always something that will tickle your fancy but you will be surprised at the amount of information available for nothing


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