Formulating a Business Idea

Many business enterprises that would have potentially positive way due to lack of ideas. The best business idea combines the strengths of personality, abilities, skills, experience and training could be in the imagination and market demand. Solving common problems create an opportunity. Successful entrepreneurs need to find and provide complete or improve a product or service.

The best cutting plans do not work sometimes. The research is fundamental to developing good business ideas and plans. Although employers who have ideas and want to start a business with simple concepts, such as having business, but began to develop as an idea. In this case, there are tricks to use to develop a list of ideas.

What ideas?

Examination of the elements that are used every day and how they could be improved and made cheaper smaller, faster, or you can combine.
New products on the market recently

Think about what products and services are relatively new in the last 10, 20 or 30 years. Consider your own skills and experience. How to develop the business plan and a list of strengths, opportunities, threats and weaknesses, write a list of personal swot, and what you can do to threats and vulnerabilities into opportunities. For example, maybe one of them trained in an area of interest he / she is poor.
What is to hate people?

Consider what you normally do not like home. There's a reason people pay for child care or cleaning services. A service in one of several types of work, to hate people, for example, clean toilets, you can afford.
Make a list

Combine the ideas of the strengths and opportunities that a list of possible ideas. Test ideas in the list. The focus of the investigation was taken into account when the product or service other than those already existing, if so, how is a new product / service, and in this case, what makes them attractive or product / service that removed the difference of the products / existing services?
Search

The online tests can the public library, or through the Small Business Administration (SBA), the assessment agency or local economic development, which may be available conducted by local organizations or universities. Visit to a counseling session with a specialist and seek information and advice. They offer to test questions before proceeding.

Perform competitive analysis

Conduct a market survey of similar goods or services to attract your potential customer target market, the entire competition, not just part of it. For example, only the fact that he is looking for a competitive accounting for small businesses in your area, but all offers of the view that companies such as tax preparation.
marketing considerations

In developing the business idea, think about how to be sold. There are several reasons for the market.

The value added is the uniqueness of your product or service warranty. Try the product or service that is different, something that is no longer available, the offer. If possible, consider how your product / service will be different.

known brand is a key element is the company's efficiency can increase a product or service, quality and exclusivity with their company as a specific brand is the creation of associates.
Franchise

There are many franchise opportunities for the right person. Research on their interests.

Financing

If funding is a problem, first get the idea. You do not have much money or anything to create some businesses. For example, data entry or writing is possible only with a PC and basic software that you already have. If the idea requires more resources, visit your bank or analyze the potential for investors. "Angels" are people who make investments for the interest in profits, but not necessarily interested in the business needed.