/4 Tips to come up with a Good Business Idea
business ideas

4 Tips to come up with a Good Business Idea

Many people think that starting a business is a mysterious process. They want to start a business, but they don’t know how to start. This article will tell you how to success with your viable business idea. Otherwise, we’ll walk you through the steps to creating a workable idea and then show you how to success. This is the biggest step in deciding what you want to do.

But before we get started, we just need to get to a point: people are always thinking about whether this is the right time to start their business. There is never a bad time to start a business. It is wise to start in a correct time. People have money and are looking for ways to use it.

More than 543,000 companies are created in the United States in every year. There are number of Americans who says “Okay, this is the year I have to start a business,” and do it.

Everyone has their own schedule that prevents them from taking this crucial first step. Most people are afraid of taking first step. You may be afraid of unknown failure. Others seem to start something overwhelming because they think they need to think of something no one has done yet – a new invention or a unique service.

For most start-ups, the problem shouldn’t end with something unique that no one has heard before. But they find solutions for, “How do I fix this? Can I do it better or in a different way than the other person there? “

Write First

How does the reflection process start? First take a piece of paper and write “things about me”. Write five or seven things about yourself. Your list may include: “I love people, I love children, I love reading, I love computers, I love numbers, I love inventing marketing concepts.

On the other side of the paper, state things that you do not think are good or that you are reluctant to do.

When you are done, ask yourself, “If there were four or five products or services that would enhance my personal life, what would it be?”

Find out which products or services make your life easier, happier, more productive or efficient. Then write about additional products, services and improvements to make your lifestyle more comfortable. 

Finally, ask yourself why you want to start a business in the first place. When you are done, look for a role model. How it satisfy the others’ requirement.

Is the Business Idea a Good One?

So you have a business idea. Is it good for sustainability? The answer may seem complicated, but there are some measurements that may deter you.

  • Solve a problem – Solving a problem means making life easier for people.
  • Scalable – Scalability is a business opportunity to grow and adapt to a constantly growing market.
  • Your doubts are minimal and disappear quickly – When inspiration flashes followed by suspicious doubts, these can easily be thrown aside. And you have to be honest. Faith is important, but blind faith is dangerous.
  • People want your product and your service – Others should be as excited about your idea. Test the idea and tell your friends, family and potential customers. Are they excited? Do they like it?

These four successful brands can point you in the right direction. If you can answer them all, that’s great!

Otherwise, take your heart, soul and time to revise the concept. Saying yes to the four does not mean that you have to ruin the idea – it just means that you have an opportunity. Show your approach to the world.

Their Business Idea – Startup story

These startup stories will tell you how to identify a need and satisfy it.

The contractor’s office is located in Irvine, California. Many years ago, there were not many fast food restaurants in the area. Most of them were in the town, where the neighborhoods were. Two young men from Irvine found this lunchtime very frustrating. There was affordable food in the malls, but the parking lots were small.

One day when they were complaining about their lunch problem, one said, “Wouldn’t it be nice if we could provide good food?” The proverbial bulb lit up! Then they did what many did not do. They bought one of Entrepreneur Press’ step-by-step guides and started a restaurant.

So far, their business has served more than 15 million people! This is neither a complex business nor an original business. Their competition is tougher, but they are still doing well. And it all started because they listened to their own frustrations and decided to do something to them.

Research cited that, lunch cuts as one of the biggest complaints from American workers. There are people who only have 30 minutes, which makes it almost impossible to get off, eat lunch and get back.

This is one way to come up with ideas: listen to your family or college. You can find number of opportunities. All you have to do is research them. If your brain is constantly updated with ideas, many ideas can be worked out by looking around.

This is another startup story:

Have cable companies and video streaming services ever charged a fee for returning videos late. When Reed Hastings received a huge $ 40 fee as a late charge, he was encouraged with this and try to find solution for this. Hastings came idea with, “Why don’t film distributors work like a gym, charging the same amount whether you spend a lot or a little?” Netflix was born from this idea. Since its inception in 1999, Netflix has grown into a large company with revenues of over $ 20.16 billion by the end of 2019.

Don’t forget what you tried. Hot companies often go through cycles. Take gardening work. Gardening products and supplies have been in decline over the past few years, and wouldn’t believe gardening is a 21st century business. The same thing happens with cleaning and pet care. People try to outsource some works because that they don’t have enough time.

That means you can take any idea and adapt it to the time and your community. Add your own creativity to each concept. This is important to make your business successful.

Best ways to find out if your idea is working in your community is to talk to people you know. If it’s a business idea, talk to your friends and co-workers. Get personal ideas from your family or neighbors. Don’t be afraid that people will steal your idea. Discuss the general concept.