How to come up with a Business Idea

By Cent M

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If you think starting a business is the right thing for you, then you need to come up with a good business idea. The first thing that you should do when starting a business is to launch your website. This will give any prospective customers an easy way to find you once you decide to start selling your products and services.

Get your idea in shape

Many people want to start their own businesses but do not know which business to venture into. Oftentimes, people who have this problem usually think that others are born with the ability to come up with sound business ideas while others are not: this is simply not true.

To get your idea in shape, you need to challenge yourself to come up with ten ideas per day. The ideas do not have to be about your new business, they can be about anything: places that you would like to vacation, books that you would like to read, and ideas about new comic book heroes. Doing so will enable your idea muscle to grow, and soon you will be writing down tons of business ideas.

Write a list of problems that need solving

Once your idea muscle is in shape, you should write lists that will help you to narrow down your ideas. The best way to come up with an original business idea is to write down problems that need solving, preferably problems that you have been through. When you write down problems that need solving, you will avoid coming up with lousy business ideas.

The most common mistake that startups make is to solve problems that people do not have. To come up with a list of issues that need solving, you should be present and think about the things that are going on around you. Which things bug you on a daily basis?

Come up with solutions to everyday problems

Now that you have a list of things that bug most people, you should start thinking about solutions. If you trust more than one person, you should bring them into the room because they can help you to brainstorm solutions. When you hit a wall on some problems, do not be discouraged; just move on and solve the next one.

Come up with business ideas

Once you have a list of solutions to your problems, you should identify the ones that have the potential to be good businesses. For instance, with the growing popularity of specialty coffee, the time seemed right to introduce wild luwak coffee to the American market. This coffee has an incredible story and an equally indulgent taste.

Choose what you are passionate about

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Starting a successful business venture takes a lot of persistence and drive, and it might take a few years for your idea to become a success. That is why you need to be passionate about your idea; you will be less likely to give up when you hit a few obstacles. It also helps to choose a business that is in your current industry.

However, many successful businesspersons have started businesses outside the industry they were working in before leaving their jobs. You should know that whatever business you go into, passion always trumps experience. No matter how much experience you have, you might give up when you run into unexpected challenges and obstacles.

If you need to acquire a business license to pursue your new business idea, you should do it. Businesses such as bars and restaurants need multiple licenses before you can open them. You need to conduct some research to find out which licenses your business needs.

The post How to come up with a Business Idea appeared first on Blogtrepreneur – For Busy Entrepreneurs.

      

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