The most common mistake for starting home based businesses is to rush into making money without a clear plan, without the basic skills and without a Great home based business Idea. Many people have come up with online home business but have found these ventures to be unsuccessful and the main reason always due to the bad small business startup idea. It’s all about great idea. You cannot have success without a great idea. Period.
If you want to unsure your business succeed, don’t run with the first business idea you think of. First and last and always find the idea that’s best suited to your skills, desires and goals. As a business start you may not get it at first. But, once you develop an entrepreneurial frame of mind, you’ll see that finding business ideas is just as easy as finding leaves on trees.
Here are 8 tips on how to get small business startup idea
Getting advice from family members, friends and colleague when you start a home business is not enough. Chances are you don’t know anyone that has started a home business so where do you go for help.
1 – Search online – Fortunately, accessing and using the Internet is fairly simple. It is a great resource for people who have a home based business. Visit websites and blogs. There, you can find quality free downloads such as ebooks, ecourses, articles, and newsletters with quality information and advice about any topic. Simply type in your keyword or keyword phrase into the search box and hit enter. Google or any other search engine you use will looks up all the data it has in its network and displays results related to your keyword(s).
Use forums, newsgroups and message boards to get help. They are good places where you can learn, grow and develop new skills to start how based business. You can read helpful posts, ask questions and get advice from other home business owners.
2 – Go to your local library – Go to your local library, check out some business’ books. Talk to the librarian. Libraries contain all sorts of home business books and resources. Your librarian should be more than pleased to help you find what you are looking for.
3 – Find a mentor – If you have a budget, it is a good idea to get a mentor in your local area or online. Mentors who have had great business success are usually volunteers and will be glad to help start up new businesses. They often have years of experience and can be really helpful.
4 – The SBA – The Small Business Administration provides a multitude of material on starting your own business. The SBA provides online courses, online business counseling, and links to online business resources
Depending on where you live, you might find local government agencies that will give you free help and advice. Check your listings for small business center in your area.
5 – Your Bank – Banks are overlooked places in the field of business advices. Most banks have business advisers on staff to help you not only to open a business account but also to give you golden advices about small business startup idea. They can be especially helpful with the technical and financial elements of starting your business.
6 – Find a lawyer – Lawyers know all about starting a new business. They’ve surely done it thousands of times over. It can be well worth paying for an hour of a lawyer’s time. Decide what you want to ask. Write down a few notes in your planner or in a file and bring them with you when visiting the lawyer. Look around you; if you are lucky you may even be able to get a free consultation.
7 – Find an accountant – Accountants also know about business and can be less expensive alternative to lawyers. If you want your business to be profitable you should take the advice your accountant gives you and if you don’t have one, you should get one.
8 – Visit business universities – They are full of business students. They spend all their time learning about business, and a lot of of them would just adore to help get a real one off the ground. Business students can be a great source of information, support and small business startup idea.
Without an innovative small business startup idea that will make people want to buy from you, there won’t be a business. Without a good home business idea it’s impossible to end up with a good image. So do your best to come up with a genuine idea that will turn your small business into a fortune!
Remember, the key to coming up with a great small business startup idea is to concentrate on finding a need and filling it!
New Ideas, Innovation, Business Development – Hot New Ideas Are Even Better Cold
I am regularly amazed at how quickly the most ‘corporate’ of companies, never mind us free wheeling, unstructured entrepreneurial companies, can get sucked off track and into the black hole vortex of wasting time by a simple 5 word phrase uttered in a meeting “I’ve got a great idea!”
As entrepreneurs, we are genetically programmed to develop and test new ideas and to keep looking for the latest bright shiny object. It’s actually a disease and we can’t help it.
However, over the years, I’ve found that some of my best ‘hot’ new ideas were better, even great, if I left them alone for a while and let them marinate.
I’m not suggesting in any way that you stifle the creativity and idea generation of you or your team members, in fact that’s how most small businesses discover new markets or create spin off businesses. An idea put before a work group, idea team or mastermind group grows and innovations are born.
However, to keep your production meetings on track as well as your own productivity, I would suggest that you institute a four step funnel or channel for the submission of new ideas.
First, all ‘great ideas’ should be written down IMMEDIATELY upon entering your brain. If you don’t there is a very good chance it will disappear just as quickly as it arrived.
Second, let the idea sit relatively undisturbed for at least 24 hours. Add information to the file but don’t spend any real time doing anything with it.
Third, get it out in the open for a formal discussion. In preparation for the presentation meeting do some basic research and be prepared to present preliminary information answering these questions in 15 minutes or less:
- Idea overview
- Is this a new product or service or is it a cost saving idea?
- What will it do or save us?
- What’s the idea conservatively worth to us?
- Who will buy it if a product, and who’s the competition?
- Who will be effected if it’s a cost savings measure?
Based on the size of your business, if you regularly have team meetings, leave time on the agenda each meeting for the discussion of 1-2 new ideas.
If you’re not that big, schedule time with a partner, advisor, coach, or mastermind group who can help you develop, modify or potentially kill it by playing devil’s advocate. Important tip: Even if the idea is not right for the present time, keep the file and your notes. I can’t tell you how many times an old idea becomes timely a couple of months or year’s later.
Go through the first three steps of this process BEFORE you spend any money on it. By forcing the person generating the idea to follow this schedule and format, ideas will flow to you in a way that you can easily see the merit or not and then if the idea does have merit you can move on to the final step.
Forth, assign people or schedule time, to further develop the idea and test it. Make sure that updates on progress are scheduled as agenda items at subsequent meetings. This holds people accountable for their idea and their time and doesn’t let a great idea get lost.
Once a good idea becomes a great idea…implement with speed and decisiveness.