How to Get a Great Business Idea

Are you wondering as to how you can come up with a fool proof business idea? Coming up with any business idea may not be very difficult. But unique and workable ideas with potential for success are much harder to come across. There are many considerations involved in coming up with great and workable business ideas. Let us try to explore some of these:

1. What do you like doing?
This is a very important question and one for which you must find an answer. You cant feel passionate about your venture unless you love what you are doing. Without feeling passion, it is impossible to work hard and turn your venture into a successful one. Turn your hobby into your profession, and you wont have a single working day in your life. What can be a better way to earn your living?


2. Who would you like to work for?
Another approach to coming up for an idea is to determine who your customers should be. These should be people you like working with, and whom you can relate to. Observe them closely and interact with them on a regular basis. You might eventually be able to identify a need within them which you can fulfill.

For example, you may belong to an email discussion group where you hear people complaining about how time consuming it is to submit ezines to directories and to keep track of those submissions. Aha! Maybe you can start an ezine submission service!

Search for clues of unfulfilled needs. What do they want which is not being done? What are they dissatisfied with? What problems do they want solved? The answers to these questions may lead you to a winning business idea. All successful businesses achieve success through satisfying an unmet demand, the right way.


3. Research and test market
Dont plunge into a business immediately after identifying a need that you can fulfill. Research and test your idea with your arget market. Ask them if they think this is a good idea and how much they would be willing to pay for it. It is not unusual for people to have a need and yet be unwilling to pay for getting that work done. Taking the ezine submission service example again, people may think promoting ezines is a big pain, but would they be willing to pay someone else for doing it?

Also, people might be willing to pay, but is that amount enough for you? Can you earn a living on it? You may need to make some changes and add more value to your business idea to make it more suitable to the needs of the people, or to increase their willingness to pay. Search for services or features that you can add to your offering to make it appear more valuable and beneficial.

Ask questions about anything you are unsure about from your acquaintances as well as current and prospective customers. Even if you think you are sure about a decision or idea, a second view point is always a great help. It provides you with a new way of thinking.


4. Observe the competition
Once you have identified a need within your target audience, you must observe how other entrepreneurs are fulfilling similar needs. Perhaps you want to be a candle maker. Observe the other candle makers around you. How are they managing themselves? How are they differentiating themselves from other entrepreneurs? Is there something unique about the packaging, candle shapes, colors or fragrances that they are offering? Are they satisfying their customers? Is there something that you can do better than them? If they are doing something very well then maybe you can copy them.


5. Make yourself stand out
There is always room for something new even in a very competitive field. For example, there are thousands of web designers on the web today. Can there possibly be room for more web designers? Sure, why not? There is still a need for web designers who are dedicated to maintaining quality of wok and services for their clients, and meeting deadlines. There would always be room for specialization as well. For example, web designers who specialize in building web sites for churches, or web sites related to animals, etc.

To be successful you must try to have focus and maintain quality of service at all times and at all costs. Remember, slow and steady wins the race. Gradually people would start recognizing you because of the high quality of work you do, and the commitment you show for your work. Success may not be easy to achieve, but it can be done, and its definitely worth trying for.


6. Be willing to learn
The process of learning is perpetual and never ends. Those who have an open attitude and willingness towards learning, are bound to benefit a lot more from the learning process. Read and research as much as possible about you idea. You may discover information which would prove instrumental in your success.

For example, a web designer would need to learn a lot of programming languages and practice a lot to reach a professional level of expertise. Even if you are a so called expert in your field,there would still be room for you to learn new things, and you should avail every opportunity you find to do so. This would ensure that you have an edge above your competition.


7. Dont give up
Bad times in business are faced by everyone. Sometimes you feel discouraged and unwanted, and you feel you cant go on. But hard work and determination forms the basis of success. You may not achieve the success you expect immediately, but if you are determined to make your business work, it eventually will.

The above steps may not guarantee a hundred percent success in business, but if you follow them closely, your chances of success would definitely increase. May you achieve success and prosperity in every way.

About the author.

erum@biztalk4u.com
http://www.biztalk4u.com