3 Tips You Can Use To Come Up With Business Ideas
As women ventured into the workplace, many found over time that they had become pigeonholed into gender-specific jobs. While some have settled comfortably into these roles and have found their niche others have rejected this “typecasting “ and have found success in formerly male-dominated or exclusively male jobs. Many more individuals have taken the next step into running their own businesses. While this is not a new thing, it has gained much more popularity over the last few decades. Many women are standing in the wings hoping to join others but are not sure how to do so. If you are one of these women, hopefully after reading these 3 tips you can use to come up with business ideas, will leave the wings and take your place on centre stage.
Know Your Heart
What do you like to do? What are you good at? Do you want to stay with the familiar or venture into new areas? You need to answer these questions before you proceed. There is no point in starting out at something you know nothing about or something you either hate or will get quickly bored with. There is the first tip you can use to come up with business ideas. Setting up a new business takes a lot out of you in terms of time, energy and stress. If you are not happy doing it, you may want to give up when the going gets rough and it is likely to get rough before it gets better. You do not have to know everything about the business. Surround yourself with people who are as passionate as you are about the business. Get advice from those who have been down that particular road. Make yourself the best you can be in your field but most of all, choose a field where you want to stay for the long haul.
Do Your Research
Why are you starting a business? Do you just want an income? Or do you want to change the world or the environment? Finally, do you want to contribute to society? The answer to these questions should have an impact on the type of business you choose. For your business to succeed, it has to have longevity. Choosing a business which will be quickly made obsolete by technology or will quickly lose demand is obviously a waste of time. When Europeans first settled in the Caribbean islands, they had the perfect crop in mind, tobacco. It was easy to grow, did not need much capital or labour and was in great demand in Europe. What they did not bank on was that Europe did not want their sad little tobacco when they could get better quality tobacco in greater quantity elsewhere. Boy did they hit the mother load when they changed to sugar! They did not give up and neither should you. You can bet they did more research before they tried again though. This is another important tip you can use to come up with business ideas.
Find Your Niche
Don’t go into areas that are already saturated and fight others for the same market. My final tip you can use to come up with business ideas is, instead of above you should find gaps in the market and fill them. You could look at trends and figure out what’s next and reach the next level before others and be ready when they catch up to you. You could update a product which hasn’t seen improvement in a long time. What about inventing something yourself with your skills or making a cheaper version of a product available? Talk to shoppers and find out what’s bugging or frustrating them. Examine store shelves to see what’s lacking. You might actually be in a job that has something lacking that you can branch out into. Brainstorm and network to gain information. The more informed you are, the better you will be able to find the right product.
It goes without saying that you must have the necessary capital to finance your business. You may need a building, machinery, furniture and staff. How much of these you need will, of course, depend on the type of business you choose. In this age of technology, you might be able to forgo most or all of these. You and your employees, if you have any, no longer need to be in the same room, building, city or even country anymore for certain types of businesses. It would be good if you have a support system to help you through the difficult times. You may need a shoulder to cry on or just words of encouragement. Of course, you will also need them to celebrate your success. Do you have any business ideas? How did you come up with them? Please feel free to book a call now for us to discuss it. You can also share your thoughts in the comments section below