How to Find Great Business Ideas

Posted on by in Marketing

I am sure you can agree with me that we all dream of owning our own business and doing what we love to do. It is true that most people are happier when their business life includes something that they enjoy. Take your passions and earn money at the same time. This is everyone’s dream but most of us all over the world are working for someone else, huge corporations and not doing something that is enjoyable. But, we get comfortable and it pays the bills so we let our dreams go to the wayside. It is scary to take a gigantic risk and open your own business. Perhaps you already have an idea of what you want to do or you may be starting from scratch.

Let your passions make money for you. Here is a checklist that is truly important for you to stop and think about each point in detail. The more detail you have the more your business idea comes to life.

  • What are your god-given talents? Are you naturally talented in an area where you can create a product and/or service?
  • Maybe it isn’t a natural talent but rather something you love to do whether you are good at it or not. What is your passion? Is there a place in the market for this passion?
  • Do you already have the materials to do something you love to do? For example, a friend of mine loves to garden and is interested in organic products. She found a berry that hasn’t saturated her local market, yet. She made a contract with the market to sell her organic berry. She loves to garden and is supplying a niche product.  And she already had the materials to do it.
  • Who do you like to be around? What kind of people do you want to be surrounded by? Maybe you don’t have a specific talent but you love working with children or the elderly. Can you provide a service to this group of people?
  • What are some life experiences that you want to fulfill? Can you make money fulfilling these dreams? One example, you like hiking and want to explore the world. Can you make money creating groups of people with this interest and guide them on their adventures?
  • Do you have a passion to make something better in the world? Perhaps you are an environmental activist or at least you want to be? Is there a service or product that you can create to fulfill this desire to make the world a better place.
  • What is your life calling? Create a business around this.
  • What kind of life do you want to live? Tough questions, I know, but why not sustain a healthy bank account while living your life the way you have always envisioned it.

Hopefully, answering these questions above will get those creative juices flowing and you have a few ideas that you are pondering on. Now that you have a business idea you must make sure that it is profitable and marketable. Complete some research to determine if your idea is a good idea. Below is a checklist that you will need to use to determine if you can market your idea.

  • Read newspapers, magazines, and online articles.
  • Watch the news, documentaries and explore YouTube videos.
  • Survey your social networks: friends, families, Facebook friends, MySpace friends, and Linked In professionals.
  • What is the success and failures of those already doing this business?
  • Survey those that would be your target audience.
  • Contact a marketing company (if you have the cash).
  • Is this a small target audience or is the target audience large? (Important to determine to base what kind of money you can make)
  • Is it a niche or something common where the market is already saturated with this product/service?
  • Will it be a trend or fad? (Determines how long you will be in business)

Now you not only have an idea but you also truly, believe that it is a good idea. Make sure you research thoroughly on how to start your business. Congratulations, you are one step closer to living your dream!

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