The most fun part of being an entrepreneur is coming up with your business idea. This is a phase that involves creativity and requires almost no execution. Many entrepreneurs are pretty good at the idea phase and have dozens of viable business ideas, so the key here is how you approach your process of narrowing down from all the different possibilities to one narrowly focused business idea that you can believe in and be passionate about.
New Business Idea Phase
During the initial idea phase for a new business you want to come up with as many ideas and variations as you possibly can. Do not be negative towards yourself during this time and don’t let other people try to shoot holes in your business ideas yet. That will come soon.
The best way to approach this is to start with what you already know and you already have skill in. If you are an investment banker, think about things related to finance. If you are a physical laborer, think about business ideas related to landscaping. If you are a trucker, think about business ideas related to the transportation industry.
You want to avoid businesses you know absolutely nothing about. Stick to stuff you already have familiarity with and a passion for. Don’t try to do robotics if you have never written a computer program and don’t understand the basics of hardware. You also may not have the passion to stick with your business through all the hard times if you don’t already understand it.
The best sort of business ideas look at your current skill set and hobby interests and then looks to fill gaps that exist. For instance, if you are really into remote control helicopters but can never buy enough replacement parts to keep your choppers flying, then you should consider selling bulk parts to consumers. Or perhaps if you are a janitor, you should look into creating a property management company if your local area does not have trustworthy property management corporations.
37 New Business Ideas To Get You Started
- Digital tracking of performance on a bicycle
- Smartphone connection with doctors
- Turn vacant office space into hotels
- Music streaming that improves focus at work
- Beer brewing
- Writing a blog online
- Sock that can detect foot injuries
- Furniture moving
- eBay / Craigslist retailer
- Home theater setup
- House painting
- Auto mechanic
- Life coach
- Disaster planning
- Massage therapy
- Social media consultant
- Tree farmer
- Animal farmer
- Web designer
- Camera that can show you your pet while your at work
- Travel comparison
- Interior designer
- p2p lending
- Vehicle that can be put together from a kit
- Self driving cars
- Solar powered computer
- Portable segway vehicle
- Social network for hospital patients
- Social network for retirement home people
- Customizable shoes