You may already have an awesome business idea? If so, congratulations. If not, I’d like to give you these 5 business idea tips. By understanding these 5 tips can help with brainstorming and ultimately reviewing potential business ideas.
Tip 1. Ask yourself what’s next. What new technology or advancement is being developed, and how will this advancement change the business landscape as we know it? Can you see a potential opportunity?
Tip 2. Fix or modify something that annoys you. If your business can fix a problem for your customers, they’ll thank you for it.
Tip 3. Apply your skills to a new market. Many businesses and industries do things one way because that’s the way they’ve always done it. In those cases, a fresh set of eyes from a new perspective can make all the difference.
Tip 4. Whats better, cheaper and faster? Do you have a business idea that isn’t new? If so, think about its current form and focus on how you can create something better, cheaper or faster.
Tip 5. Have a bit of fun with it. Don’t discount any idea you may have because you think it might be silly. Some of the most amazing business ideas have come from late nights with friends, pizza and a nice bottle of red wine. Have fun with this.
I suggest researching your idea by asking people a number of questions, seek advice from other business owners, research ideas online. Use whichever method suits you. However, be aware that by asking questions of your friends and family, they have a vested interest in giving you the answer you want so they don’t upset you. I’d suggest asking people you don’t know or create a poll using social media.
And, if you’ve exhausted all your options and you’re still stuck, contact me for a list of business idea questions that will get the ball rolling.