Come up with a business idea

Modern innovations and technologies can be used to create your own unique competitive business. However, not every idea can be successful and profitable. More than 92% of startups are not viable, according to research agency Startup Genome for 2021. However, as soon as you manage to come up with a business idea that will be original and useful for consumers, the chances of occupying your niche will increase significantly.

How to come up with a business idea

Although the word "start-up", which in English means "start" or "launch", is used to refer to newly created companies, it is not entirely correct to apply it to any new business. A startup is, first of all, an innovative idea, which in the long term can be developed and bring big income. You need to start your own business with the search for a unique idea.

To find an idea for a startup, experts recommend analyzing a number of factors, including:

  • own motivation: desires, skills;
  • opportunities, skills;
  • interests and needs of the target audience;
  • competition in the business market in a specific niche.

Having analyzed all the items on the list, it will be much easier to find a successful idea for a startup.

The heads of the "Business Youth" project Mikhail Dashkiev and Pyotr Osipov share one of the options for generating a business idea:

Assessing your skills and hobbies

When launching your own business, it is important to understand that unlike employment, in this case, you cannot just quit or go home early. Money, time and effort are invested in a startup, which in case of failure no one will return back. Therefore, it is worth coming up with a business idea taking into account your own hobbies and hobbies. This should be a comfortable area to which the soul lies. Own business, especially at the initial stage, often requires work without days off, holidays and vacations. So let it be a pleasant pastime.

Elena Skriptunova, General Director of Aksima LLC, believes that a business idea will fail if it is not able to “ignite”, inspire, force everyone to quit and only engage in its implementation.

What is the most profitable small business in a small town

What business to do or how to come up with a business idea

The search for a successful business idea can take a long time. Perhaps you are just not ripe for entrepreneurship yet. Maybe you need to suggest ways to find business ideas.

The most important question, to which at any time it is necessary to find an answer for novice entrepreneurs: "What type of activity should I choose?" Acting businessmen, successful and unsuccessful, are also forced to look for answers to this question, because it is necessary to develop or change unpromising directions to more interesting and popular ones. If you are reading this article, then you are also looking for answers and, undoubtedly, have already seen a lot of suggestions on the net. Most of these recommendations did not satisfy you. There is nothing surprising. Good advice is very rare, a significant part is simple duplication of interesting ideas.

More valuable are the thoughts of the authors of truly sensible books that do not belong to the category of popular literature and are not massively distributed on the Internet. One such author is Jeffrey Fox, who has written an excellent book, How to Make Big Money in Small Business. Some of the advice from this author to the people of Russia may seem ridiculous and naive, but the ideas outlined in the book are very interesting. Take the essence and try to adapt it to our realities. You will definitely find useful information, because these tips are based on vast experience and contain in a concentrated form the age-old wisdom of successful businessmen.

According to Fox, the following ways to find business areas should be used:

  • Your natural talent, abilities and hobbies are best suited to create a successful business. Just think about how you can make money from them. The fact that you will get real pleasure from the activity is a huge advantage.
  • If your family already owns a business, do not rush to abandon it. You have a great opportunity to explore the "kitchen" of entrepreneurship from the inside.
  • If you are an employee, focus on finding vacant niches and innovative ideas in the direction your company is doing. You already know a lot, have the necessary acquaintances, this will greatly simplify the start of your own business.
  • Enough has been said about ideas rejected by big corporations. But few use this advice. And in vain, if properly implemented, these ideas can become a source of large capital.
  • The basis of a successful business can also be an old idea that was previously impossible to implement. A different angle, minor changes - you get a gold mine.
  • Carefully study any information on franchising projects. You don't have to buy a franchise, but you can spot a promising and still vacant niche. As a rule, these ideas have a narrow focus, but they are great for starting a business. Analyze even those options that seem absurd at first glance. Perhaps it is in your city that this original idea will become an accurate hit on the target.
  • Pay close attention to small ethnic groups, if any, in your city. Often the needs of these people are not sufficiently met. If you can learn the language, organize a business to meet the needs of one of the national minorities, you will get loyal and loyal customers.
  • Constantly look for information on various lines of business, new services and products. Don't jump to conclusions about high competition or futility of each type of business. Often times, the first impression is wrong and the direction you are interested in will turn out to be very profitable.
  • If you have enough funds, you can buy a ready-made business. But it is very important to involve specialists in the process and thoroughly find out why the owners decided to sell the company, how great are its prospects in the future.

The main condition for success in any business, Fox calls professionalism. If you have chosen a direction, become the best specialist in this field, offer the highest quality products and provide an impeccable service.

steps to come up with a business idea

Modern innovations and technologies can be used to create your own unique competitive business. However, not every idea can be successful and profitable. More than 92% of startups are not viable, according to research agency Startup Genome for 2021. However, as soon as you manage to come up with a business idea that will be original and useful for consumers, the chances of occupying your niche will increase significantly.

How to come up with a business idea

Although the word "start-up", which in English means "start" or "launch", is used to refer to newly created companies, it is not entirely correct to apply it to any new business. A startup is, first of all, an innovative idea, which in the long term can be developed and bring big income. You need to start your own business with the search for a unique idea.

To find an idea for a startup, experts recommend analyzing a number of factors, including:

  • own motivation: desires, skills;
  • opportunities, skills;
  • interests and needs of the target audience;
  • competition in the business market in a specific niche.

Which small business is the most profitable in a small town. The most profitable business in a small town What is the most profitable small business in a small town. The most profitable business in a small

rock'n'roll!

As you know, in order to effectively attract customers to your business, you need to start with a product. The product must certainly have a unique selling proposition to be noticed and chosen. And creative ideas for business will help to make it noticeable.

Why do we need creative ideas for business?

What manufacturers and their marketers don’t come up with to distinguish their product from competitors. Sometimes the ideas of the most enterprising of them reach the point of absurdity and even absurdity. And the most amazing thing is that sometimes they work, delighting the market with something completely new and unusual, and rewarding entrepreneurs with multimillion-dollar profits.

In my today's selection - 20 incredibly creative business ideas that worked and brought their creators a lot of income. I draw your attention to the fact that there will be practically no technical innovations and scientific developments. Only an endless flight of fantasy, incredible courage and loyalty to one's convictions.

Superhero Restaurant

Once the owner of a small restaurant in Bangkok, Narongvit Sutkhiviriyakul, dressed all the staff of his establishment in Spiderman costumes. Everyone became Spidermen - from takeaways to barkers working on the streets. Incredibly, after this innovation, its sales doubled.

However, Marvel soon got in the way of the creative entrepreneur and demanded that his unauthorized action be canceled. And a week later, the resourceful Thai man dressed all his employees in Austin Powers suits.

Austin Powers' copyright holder - WPM Film International - not only gave him the right to use his character to attract customers to the restaurant, but also sent him 10 knitted suits - for each member of the Narongvit team. including himself, his wife and children.

He is currently negotiating with the copyright owners of Catwoman, Lara Croft, Batman and other famous characters.

Elephant Wash

In one of the nature reserves, the flow of tourists has decreased, and the management has come up with a way to attract them to visit. A special service was organized in the reserve - washing your car with elephants. Elephants will water your car from their trunk and wash it with a sponge.

❶ How to come up with a business idea

How to come up with a business idea?

It's hardly possible to build a successful business without a worthy idea. Most entrepreneurs try to outflank the competition in order to lure the main audience of customers to themselves, but you won't have to do this if you come up with something original. At one time, suitcases on wheels brought their creator a lot of money, this is one example.

How do you come up with a business idea? Of course, inventing new products and different chips is quite difficult, but if you manage to do this, money will flow like a river.

What has not humanity invented, especially over the past few years, because today money rules the world. Do not be a pessimist, not everything has been invented yet, there are a lot of options.

New business ideas in your head!

In the business ideas section, we periodically publish interesting ideas, as well as related information. You can use a ready-made version, but it's better to come up with something yourself.

Anyone can develop such an idea that does not even have to bypass competitors, for this you need to "Open your eyes" and look at the world around you with a new look.

Interesting ideas are literally flying in the air, they are related to hobbies, work or professional knowledge. It is even easier for creative people to fantasize and come up with different novelties.

If all else fails, use one of the most effective ways to come up with ideas:

We need a pencil and a piece of paper.

  • Record 3 of your hobbies,
  • Record your skills,
  • Record your current occupation,
  • Record what your inner circle is engaged: relatives, friends, acquaintances,
  • A strange question, but what would you be doing now if you did not need to make money?
  • Read our expanding list business of ideas - perhaps you will find something for yourself + ideas for startups.

These are 6 options that can push you towards an idea. It was promised 7, so:

Synthesis

It's easier if I tell you by examples. Let's say on the 5th point your answer is to shoot a movie. And the 3rd or 4th point, well, let it be work at a pipe rolling plant. Ideas?

  • Make a movie about the plant,
  • Make a movie about how pipes are made
  • Make a movie about the people who work in the plant, that make pipes.

Discovery films about doing things are very popular. We removed it - we put it on YouTube, we make money on it. Business too. True, one video will not be enough, but that's another question. Yes, millions can be made on this, examples.

Here I will say one more thing, on point 5. Do not expect that you will once earn a lot of money and be able to do what you really want. Take action now. If you want to do charity work - nothing prevents you from giving part of your income to funds, and on weekends to volunteer for a couple of hours in different organizations. If you want to make films - shoot, for an hour a day, you can allocate a hobby for this, shoot, experiment, put it on YouTube. You don't have to wait, you have to do, otherwise you don't have to wait.

Or instead of filming a movie, you can find buyers for your plant's products and get your percentage of sales.

The essence of the 7th option is in comparing two or more previously recorded maxims in a different order.

Having chosen a certain niche - check it through wordstat. andex. u is a service for checking the frequency of requests for certain words in Yandex. Often this is how you can concretize your choice, and this is not only about regional binding, but also about related aspects.