Sunday, March 10, 2019

business ideas

business ideas


4 Steps To Coming Up With A Great Business Idea - Forbes

Posted: 09 Mar 2019 01:21 PM PST

By Rieva Lesonsky

You know you want to start a business. You can't wait to tell your boss, "I'm out of here" and become your own boss. Only one thing stands in your way: you need a business idea.

You might have a general idea of starting a business in a certain industry. For instance, maybe you've always wanted to open a restaurant, but should it be a chic dinner spot, a cozy breakfast cafĂ©, or an ethnic cuisine eatery? Or maybe you have no idea what type of business to start.

There's nothing wrong with that. Legendary stories aside, few entrepreneurs grow up knowing exactly what they want to do. If you aren't sure what type of business to start, that doesn't mean you can't be an entrepreneur. It just means you need to take some extra steps to come up with a business idea. Here are four helpful steps to get started:

Follow these four simple steps to come up with a brilliant idea for your startup.© Alistair Cotton- Adobe Stock

Step 1: Get your creativity flowing

Inspire yourself by gathering as much information as possible about business in general, small business, and trends that relate to business. If you're considering a specific industry, get lots of information about that industry, too. For example, if you think you might want to start a restaurant, read restaurant industry publications and websites. Visit every restaurant in your area. Visit competitors to restaurants, such as food courts, bars, grab-and-go eateries, and mobile food trucks. You never know where inspiration will come from.

Step 2: Consider the businesses you rely on in your daily life

What do your favorite companies have in common? Maybe you're hooked on Amazon because it makes your life super simple. Or you might be a fan of the local independent sandwich shop where the staff is so friendly and knows your order in advance. Perhaps there's a little boutique where you can always find unique gifts for your friends. Note down everything that comes to mind about why you keep patronizing these companies—amazing customer service, unique products, the best pastrami you've ever had, or whatever keeps you coming back.

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Step 3: Think about problems you face

In a typical day, what frustrates you? It doesn't need to be a big thing—even a little task you wish was easier to do could inspire a business idea. If enough other people feel the same way, you might have found your brilliant idea. If you and your family love sushi, but there isn't a decent sushi restaurant within 50 miles, what can you do? If there's sufficient demand, you could start a sushi restaurant, start a sushi delivery service, or offer to sell local grocery stores fresh prepared sushi daily. Survey your family, friends, and coworkers to uncover their frustrations and you'll get even more ideas. Some of the most successful businesses out there arose from unmet needs.

Step 4: Weed down your ideas

By now, you'll have dozens of possible business ideas. Now it's time to narrow them down. Get friends, family members, and business people you know together to see what they think. Then get some impartial people in the target market you're considering (such as sushi lovers) to tell you what they'd want to see in a business serving their sushi cravings.

Don't just talk to friends and family members about your business idea. They're not impartial, so they'll either shower you with praise or discourage you from taking the risk of starting a business. Find impartial prospects, business experts, and others you can ask for feedback on your brilliant idea.

With a little brainstorming, you can come up with a successful business idea that really makes it rain.

I am CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email me at rieva@smallbizdaily.com, follow me on Google+ and Twitter @Rieva, and visit my website SmallBizDaily.com to get the scoop on business trends and sign up for my free TrendCast reports. Read all of Rieva Lesonsky's articles.

RELATED: How to Turn Your Side Hustle Idea Into a Real Business

This article was originally published on AllBusiness.com.

13 Small Business Ideas - Yahoo Finance

Posted: 15 Feb 2019 12:00 AM PST

Say you're thinking of launching a side business to make some extra income. Or perhaps you're sick of your day job, and you're ready to put your entrepreneurial skills to the test and turn a passion project into a lucrative profession. Before you build a road map for your business, you need an idea that's both popular and profitable. To help you jump-start your search and get started, use these pro tips and discover small business ideas well-suited for a variety of aspiring entrepreneurs.

Here's how to determine the type of small business that's right for you:

-- Brainstorm, based on your passions and skills.

-- Consider your resources.

-- Determine whether your idea will match your aspirations and meet your goals.

Depending on your interests, experience and what you're looking to get out of the business, there are plenty of side business concepts to consider. Read on for strategies to ensure your small business idea is a success and the right fit for you.

[Read: Best Small Business Apps.]

Brainstorm, Based on Your Passions and Skills

Before you browse a list of potential business opportunities, ask yourself: "What do you do best?" suggests Susan Petang, a certified stress management and life transformation coach in Amityville, New York. "Make a list of the talents and skills at which you excel."

She also suggests thinking about your business skills. She recommends asking yourself the following questions: "How well-versed in marketing, sales, accounting and so on are you? If you don't have the necessary business skills, what resources can you access to either learn or get expert help?"

Consider Your Resources

If you want to decide to open restaurant, for example, you're going to need capital, permits, licenses, equipment and a food supplier. While none of these obstacles may prohibit you from opening a business, remember it will take time, planning and a well-laid-out business plan to get your company off the ground.

You may, instead, want to try a business that you can run from home to keep costs low, "especially businesses focused on marketing intellectual property or soft skills," says Shel Horowitz, a Hadley, Massachusetts-based business coach who specializes in eco-friendly practices and is the author of numerous books, including "Guerrilla Marketing to Heal the World."

"I started my own business -- in 1981-- for $200, $176 of which went to buy a used IBM Selectric typewriter. I spent $12 each on initial marketing and the first batch of office supplies," Horowitz says. "These days, when almost every household already has a computer and internet connection and surplus computers are easy to find, you could start a business with zero capital."

Determine Whether Your Idea Will Match Your Aspirations and Meet Your Goals

Once you've decided to take the leap and start a business, you may want to talk to a business coach or seek out a meeting with somebody from SCORE, a national nonprofit organization that offers free business mentoring services to aspiring and established business owners. You might also want to look into hiring a business coach or heed the advice of Nikki Nash, a business coach. Whenever she talks to entrepreneurs about a business idea, Nash suggests that they ask themselves three questions: Can I see myself doing this for at least three to five years? What would need to happen over the next three to five years for my business to succeed, and do I think it will happen? Am I willing to do the work? "If someone can answer yes to all of their questions, then they have an idea worth exploring," she says.

Whether you're seeking work-from-home opportunities, a part-time business or to begin another endeavor, there are plenty of small-business ideas to pique your interest. We've pinpointed some ideal opportunities as a starting point to help guide your search.

[See: 10 Expenses Destroying Your Budget.]

If you're really good with your hands, consider the following small-business ideas:

General handyman type of work. If you have the tools, launching a side hustle as a handyman can be a relatively easy business to start. The only snag: You'll want to become licensed and insured to protect yourself if something goes wrong.

Carpentry. You can make good money with a carpentry business, if you know what you're doing. That said, the work can be dangerous, so you would need to invest in good insurance.

An appliance repair business. Like other startups, you can charge what the market bears. The only limitation: Appliances are increasingly becoming computerized and wireless. Plus, you'll likely want to invest in insurance to offset potential injury and damages costs.

If you're really good with computers and tech, consider the following small-business ideas:

Coding. As the artificial intelligence industry continues to heat up, the demand for coders is likely to continue. Plus, you can easily start a coding business from home. The only con: You may be sitting at your desk all day, which can take a toll on your health.

Computer repair. While you'll likely have minimal startup costs, computers and devices change so quickly, you may have to spend a lot to take classes or seminars and stay caught up and keep your skills fresh.

Web design. A web design company comes with the bonus of minimal startup costs and the opportunity to work remotely or from home. The only drawback: You may face steep competition in a saturated marketplace.

If you're a talented chef, consider the following small-business ideas:

A catering business. While you would have the advantage of being your own boss, you'll need to get licensed and insured, and you may have expensive startup costs.

Making your own line of food. Starting your own line of food is expensive and time-consuming, so you'll likely want to start small, with steps like bringing your branded cuisine to festivals or a local farmers market. However, if you build your exposure, you may be able to find a company that will help package your food and turn a profit.

Opening a restaurant. Starting your own restaurant is no easy feat. Some obstacles in the beginning stages of getting your business off the ground include learning how to market your restaurant and complete payroll, establishing a loyal customer base, investing in equipment and handling health department regulations. Another barrier: It's a demanding profession, and you may be working a lot of nights and weekends.

[See: 50 Ways to Improve Your Finances in 2019.]

If you want to work from home, consider the following small-business ideas:

Day care provider. While you'll need your home zoned for a commercial business and get insured, on the plus side, you'll get to work with kids and be your own boss. Best of all, you may be providing a valuable resource to your local community if there is a high demand for child care services and facilities.

Tax preparation or bookkeeping. On the upside, bookkeeping requires low overhead and startup costs. However, you'll need to take key steps to ensure that your business is hack-proof and protected from identity thieves.

Any online business that you can run from your home. Operating a business from home comes with low overhead costs, but keep in mind that you'll still need to invest time and energy to build a client base and establish your brand. And, if you're planning to sell products such as baked goods, photography or antiques, you'll need a place to keep your inventory.

A small-scale real estate agency. Building a client base can be tough at the start. You'll have to invest heavily in marketing, create a web presence and convince people to drop their agents. Plus, you'll need to get licensed to know the ins and outs of deeds, title insurance and liens.

More From US News & World Report

Fresh new business ideas discussed at Doing it Differently Conference - Lincolnshire Live

Posted: 09 Mar 2019 01:46 PM PST

Fresh new ideas were discussed when the Innovation Programme for Greater Lincolnshire held its fourth Doing it Differently Conference.

More than 100 representatives from a range of businesses across Greater Lincolnshire gathered at the DoubleTree by Hilton Forest Pines Hotel in Brigg.

They gathered to hear from the event's keynote speakers –Georgie Barrat, a TV presenter and tech journalist, and Lars Sudmann, a business strategy speaker and advisor.

The theme of the conference was to help delegates find new ways to innovate and encourage them to do business differently.

 

As well as keynote presentations and a networking lunch, the Innovation Programme organised five 'campfire sessions'.

These smaller break-away sessions aimed to facilitate peer-to-peer learning and give those attending the opportunity to learn more about digital marketing, disruption, creativity, people and leadership and robotics and artificial intelligence (AI) from a leading industry expert.

To round off the day's event, host Georgie Barrat gave an hour-long presentation.

She said: "AI will help us [businesses] make more meaningful connections.

"It will help recruitment processes for example and allow for businesses to create more personalised experiences for their customers."

Talking about the future of autonomous vehicles after she sat behind the wheel of one for Channel 5's The Gadget Show, which she co-presents, Georgie said: "Autonomous cars will be the norm in our lifetime – they will revolutionise how we live and get to work, and will increase productivity as we will be able to work while commuting."

 

During Lars' presentation, he encouraged the audience to follow the 'spaghetti principal' – throw something at the wall and see if it sticks, meaning to try something new and see if it works.

Sue Cadd, one of the event organisers and enterprise Manager at Think Tank, said: "This year's conference was focused around a campfire theme. Campfires are great platforms for discussion and sharing stories, and we wanted to replicate that environment because we can all learn so much from each other.

"It was wonderful to see so many productive and engaging chats happening throughout the day. We know that when businesses push the boundaries and do things differently, they grow and develop at a quicker pace.

"Our thanks to all of our speakers, industry experts and, of course, those who attended."

 

The Innovation Programme for Greater Lincolnshire, funded by the European Regional Development Fund, is still offering its support to SMEs in Greater Lincolnshire and has funding available for more internship applications.

If you would like to find out more about receiving £1,500 to fund your next graduate intern, contact Lesley O'Donnell on  lodonnell@lincoln.ac.uk .

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