2. Business Idea
3. Cost & Income
4. Business Proposal
5. Monitor Progress
Graduation!
Module 2c: Business Idea Options
In addition to the exercises you have just completed, there are a myriad of places to find good business ideas that may match with your interests and skills.
An idea does not have to be novel or even original; in fact very few businesses are based on original ideas. Look around, watch the news, talk to friends and family, observe things around you, and think about how you can translate them into a business idea. Many times growth of an area creates the need for additional providers of standard products or services. You can also look at business areas that need improvement. Think about the products and services you use or that you've heard other people talk about. Are there any that could be improved on? Is there anything they're not offering that would be of value? Consider starting a business that fills a need that isn't being met by the current providers. Focus on a niche. Many businesses have failed by trying to be all things to all people. Try to identify a niche that you would enjoy working in and build your business idea around it. There are many sources for business ideas and opportunities.
Following are some valuable links to get you started:
- Business Ideas from www.bizbuysell.com and the Wall Street Journal
- Business Franchise Advisors from www.FranNet.com
- Government Contracting Ideas
- Online search for business opportunities - but beware of scams
As you begin to narrow-in on your idea, it is essential to get it down in writing. The following exercise includes two questions to help you start to get your ideas organized. Respond to each question with three (3) possible Business Ideas and why you think each one is interesting to you.
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