When it comes to starting a business, most people can’t know what business to do. To be honest, we don’t think in the right way, so we don’t find “ideas”. Online business opportunities have made starting a business easier, but finding a good business ideas has not.
There are basically two ways to come up with a business idea-
- Following Others
- Do Something New Yourself
90% people out there follow the first method. Not finding something new, or fearing the risk of doing something new, or pursuing a venture as feasible. When this following is massed, it becomes a “sea of blood”. Bloody seas are where many fish survive by eating each other. As seen online everyone is selling cloths or popular fast food. Every now and then some familiar item, or someone doing well with a product, sees him and others flock there.
When it comes to online, everyone will become Jeff Bezos or Jack Ma one day. Many have taken the initiative, few have succeeded, many Bezos or Jack Ma have been lost in the dust of the road. We only know about the successful ones.
So how to come up with a new business idea by your own? Here too there are two easy ways-
- Lack Feeling
- Using One’s Skills or Advantages
Need to feel the need first, look from the place of the consumer not the entrepreneur. What is missing, what is needed, what would have made life easier, what would have solved the problem?
If you find a deficiency or problem, good business ideas will come. For example, during my home office days I realized what was missing in my locality, what was lacking, of course I sensed the shortcomings before, but this time they were more pronounced.
When you do come up with an idea, it may not be 100% new, it may be somewhere else. Can be completely new again.
Second way, let’s say someone reads a lot of books, his extensive knowledge about the world of books is due to his addiction or hobby. Book business can be a good way for him. Someone in the family hardware business, may have never sat in a store, but can use the experience of the family business to open an online hardware shop. Anyone who has been doing various handicrafts as a hobby since childhood can open a handicraft online shop.
Another is regional advantage, such as a particular product being manufactured in an area, or a raw material occurring naturally. The product does not work as it used to, or the raw material is sold wholesale. Then an online shop for special products or converting raw materials into complete products can be a good idea. I always advise people to do what they are good at or what they understand best, it’s easy for them. As a locality in Poland produce good quality handwoven looms, so one can easily open an online shop for looms.
I don’t discourage doing anything completely new, but rather encourage it. But either way there are some prerequisites.
Here are some tips on how to generate Good Business Ideas:
- Start by brainstorming. This can be done by yourself or with a group of friends or family members. Get creative and think about any problems that you or others face in your everyday life. How could you solve these problems? What products or services could you offer to make people’s lives easier or better?
- Look for trends. What are the latest trends in your industry or market? What are people talking about? What are they looking for? If you can identify a trend early on, you could be well-positioned to capitalize on it.
- Pay attention to your hobbies and interests. What are you passionate about? What do you know a lot about? If you can turn your hobbies or interests into a business, you’ll be more likely to be successful because you’ll be doing something that you love.
- Do your research. Once you have a few business ideas, it’s important to do your research to see if there’s a market for them. This means looking at the competition, assessing the demand for your product or service, and gauging the potential profitability of your business.
- Talk to people. Get feedback from potential customers, industry experts, and other entrepreneurs. This will help you to refine your ideas and make sure that they are viable.
- Don’t be afraid to fail. Every successful entrepreneur has failed at some point. The important thing is to learn from your mistakes and keep moving forward.
Here are some of the sources of Good Business Ideas:
- Your own experiences. What problems have you encountered in your own life that could be solved with a new product or service?
- Your hobbies and interests. What are you passionate about? Could you turn your hobby into a business?
- Your network. Talk to your friends, family, and colleagues. Do they have any ideas for businesses?
- The internet. There are a number of websites and resources that can help you to generate business ideas.
Generating good business ideas takes time and effort, but it’s worth it. With a little creativity and research, you can come up with a business idea that has the potential to be successful.
Here are some additional tips:
- Be specific. Don’t just say that you want to start a business that sells “products.” What kind of products? Who are your target customers? What will make your products unique?
- Be realistic. It’s important to be realistic about your chances of success. If you’re not willing to put in the hard work, your business is likely to fail.
- Be passionate. If you’re not passionate about your business, it will be difficult to succeed. You need to be willing to put in the long hours and make the sacrifices necessary to make your business a success.
One important thing to keep in mind is that whatever business venture idea you come up with, it should have some uniqueness, i.e. distinguish your business from others. Simply put, defining and implementing why people buy from you and not from others is called a unique selling point.
What to do when good business ideas are found? Today someone came up with an idea, tomorrow he opened a shop or a service center, the next day sales started, is this the case? If not, what to do before the start? How to implement business venture ideas? We will talk soon.
