Coming Up With Business Ideas
I encounter people all the time, who when they learn I am in business for myself, immediately say, “I wish I could do that.”
When I tell them they can, very often they just shake their heads, and say, “Oh no, I could never do that.” What a self-defeating attitude! Yes, you can own your own business.
What do you need to do to get started? Well, that depends. If you’ve never been in business before it will require that you change your mind set. But many people have been in business of some kind, and just don’t think of it that way.
Have you ever sold Tupperware or Avon? Those are businesses. What about a paper route? That’s a business, too. Go back and think about all the things you’ve done. That brings us to the process I always recommend you do when thinking about starting a new business.
For me, this process is all about making lists. Now, I know a guy who says he never makes a list, and if that works for him – great. But I have to tell you, it’s been my experience that once you get started generating ideas, your brain will start working overtime.
You’ll come up with some things that you think are so fantastic you couldn’t possibly forget them, but just try and remember what it was when you finally get a chance to work on it, and can’t remember it.
You don’t have to write a book, but take a moment to get it all down on paper. Making notes will give you something to refer back to while your brain cells are generating new ideas.
I suggest you use a spiral one-subject notebook. Most of them have 70 pages or so, and aren’t too bulky to carry around with you.
First, make a list of your experience, knowledge and skills. Starting with what you already know will give you an advantage over someone who decides to start a business they know nothing about.
For example, if you don’t have any food service experience, and decide to open a restaurant, you could be headed for a big disappointment – not to mention lots of unexpected expenses and problems.
While the major cause of business failure is under-capitalization, underestimating the importance of experience, knowledge and skills has to run a very close second.
So before you do anything else, write down the jobs you’ve held, and what duties you performed in that job. Did you answer phones; make copies; make deliveries; wait on customers; or do word processing?
How specialized was your job? Did you need a license or certification in order to be hired for that position? Can that same license or certification be transferred to your privately-owned business?
Sometimes that isn’t possible because of State or Federal regulations, but it’s worth investigating to see if you can use it to bolster your credibility. If not, that doesn’t mean it was a waste of time and effort. The experience you gained by having that license or certificate can still be used to start your own business and give you credibility in the field.
So put it all on paper. It’s easier to analyze when you see it in black and white.
After you’ve made a list of your experiences, you need to make a second list. Skip over a few pages in that notebook (to leave room for additional notes as they come to you). This time I want you to write down what interests you. Make a list of topics that hold your attention and get you excited and enthusiastic.
Look over the list. Does one thing reach out and grab your attention more than the others? Does it make sense? Are you really interested in the topic, or are you just writing it down because you think you might be able to make money doing it?
I like to use the example of real estate. Right now the market is a little crazy, but if you look at the Sunday paper, you’ll see lots of real estate agents listing properties for sale.
That’s because there’s money to be made selling real estate. But it doesn’t mean you should get a license when you’d rather be entering the field of copywriting, or running a pet grooming business, or providing the services of a virtual assistant.
If you’re not truly interested in what you’re doing, you’ll have a hard time keeping the business going, and you won’t be any better off than you were – working for someone else in a job you hated.
What’s worse than working for someone else, and hating your job? Working for yourself, and hating your job.
Starting a business requires a serious commitment if you want to be successful. Take some time to analyze your preferences, and go in that direction first.
Tags: how to start your own business, starting a business, working for yourself
