8 Tips For Finding Good Business Ideas

Quite frequently women tell me they would like to start a new business, but they don’t know what kind of business to start. New businesses don’t have to be started on a completely new idea; it could be simply bringing something to your area that isn’t available right now or improving upon a product or service. Sir Richard Branson has built a multi-billion dollar empire by improving existing products and services in different industries.

So let’s get your creative juices flowing.

1)Expectation:

As you start this process, understand that opportunity is everywhere and it’s only a matter of spotting it. The most important element then is expectation. Expect to have great ideas. Whatever we focus on; we will grow and expand so focus on your ability to see opportunities and to come up with great ideas.

2)Write/Record it:

These ideas can come from anywhere at any time so carry a little notebook around or record them on your iPad or SmartPhone. If something pops into your mind or to your view, but you don’t have time to explore right then, making a record of it will help you develop the idea later. Don’t count on your memory. Write it down immediately.

3)Research:

There are lots of sources that you can use for ideas such as Google Adwords, Dummies.com and Craigslist, etc. Determine what are people looking for, talking about, reading or paying money to get it. Look for trends.

4)Read:

This includes websites, magazines, books – whatever you prefer, but expand your mind and outlook. Be like a detective looking for clues. As you read things, turn it around and view it from different angles to see if something comes to you as to how you can use or develop that information. While you’re reading, get books or audios on people that have built successful businesses and find out how they did it.

5)Talk to Others:

If you have some interests in one or more areas, talk to other people and find out what they think about those areas. It’s not necessary and probably best if you don’t tell them you are think about starting a business; just try to get some ideas of what they do and don’t like about something, how they would do it if it were their’s and other general questions. See if anything comes out of that which is worth exploring further.

6)Listen:

Whether you’re walking down the street, sitting in a restaurant or at the water cooler; listen to what people are talking about. This is particularly important when they are complaining. There are at least 2 potential businesses that could be started based on each complaint. Ask people about the problems or challenges that they have in their work or business; dig deep with your questioning to learn more details.

7)Mind Map:

Whether you hear about a pain or a desire that holds your attention; draw a mind map to start getting a better idea of how you could develop it further. This will give you a way of building a structure for comparing ideas, but also to help you look for the additional pieces that you might need to research, study or understand in more detail. It’s a great way of organizing your thoughts and your actions around potential ideas.

8)Chamber of Commerce/agencies:

Find out what’s happening in your local business community. Where are the areas of growth? There could be other businesses that would complement existing, successful companies. These organizations should be able to provide insight on future developments, trends, markets, etc.

Have fun because it’s your future you’re creating.

Susan Bagyura guides women through their fears, doubts and don’t-know-how-to’s of starting a business to successfully and confidently owning their first business. http://powderpuffguide.com