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Want to Start a Business?
Here's How to Get Ideas!
by Peg Kelley, Facilitation Plus
Here are several techniques to
help you decide what business to start. Helps you leverage what you already
know and like as well as to identify a focus in which a new business would be
successful.
The early phases of starting a business can seem like an
unending series of choices. A frequent stumbling block is "What kind
of business should I
start?" Some people are fortunate in knowing they will work in their
trade, whether it be architecture, graphic design, or plumbing. Some are
ready-made, such as franchises, family businesses, or even one of those
countless e-mail messages touting "make money at home with your
computer." For many of us, these are not the right fit. What
we know is that we want to work for ourselves. But the nature of the work
that will be pleasurable as well as profitable is elusive.
When you are looking to start a business that is truly new, there are six areas
to explore that can focus your thinking and lead to product or service ideas.
1. Personal passions
What are the things that you are fascinated by and spend much time and,
perhaps, money doing? There is no substitute for enthusiasm. So
conduct
an inventory of the areas in your life that hold your continuing interest.
Was it stamp or baseball card collecting that you've always wished you could
get back to? Are your favorite hours spent in the garden? Are
you a Trekkie? Once you have this list, think about them and look around
your world. Is there a need in that arena that is not being met?
The obvious connection is often, "Open a store." That may be
right for you, but look beyond that as well. Perhaps there is a business
to be made consulting to collectors or in finding new ways to display
collections or store them safely. Perhaps your gardening skills could
translate to designing, planting, and maintaining the flowers on cemetery
plots. As some have said, "Do what you love and the dollars
will follow."
2. Irritations
Pay attention to the things that rub you the wrong way during the day.
Does it irritate you that things fall over in the refrigerator? That your
car is hot when you enter it? That the delivery man can only come when you're
working? That your eyeglasses fog up? That your physician forgot to
indicate non-generic on your prescription? That plates don't fit the
kitchen shelves right? Each of these is what I call a "friction
point" in life. If it bothers you, you know it bothers someone else.
So, invent or offer a solution.
3. Technology Shift/Change
Look around and see what technology trends are. Consider computers,
certainly, but look past them as well. What might a technology shift mean
about how people live in the near future? Extrapolate a bit. Each
technology shift creates opportunities. It often addresses one need and
creates another. Cellular phones have been a boon to the small
businessperson. At the same time, it has created an expectation of constant
availability. So what might that suggest in terms of potential
businesses? Is there a market for a "remote and knowledgeable
receptionist" for small businesses? What about the Internet?
How is that affecting consumers in their daily lives? Now or in the
future? How is it working for -- or not -- the business community?
What about the telephone menu -- press 1 for this and 2 for that? What
has been sacrificed in this application of technology that there might be a
market for restoring?
4. Social and Demographic Trends
Get a few issues of American Demographics magazine. See what's happening
in our society. For example, the most disposable income resides in the
hands of people over 50. What might that suggest about opportunities?
Americans are spending more on leisure experience than ever before. What
does that suggest? The two-income family has had significant impact on
neighborhoods in the U.S. Explore that. What isn't getting
done that used to? What would be a help to the families? What
does the fact that there are fewer dogs in homes mean? Women are starting
new businesses at a phenomenal rate. Why? What does that suggest
for services to them that might be appropriate?
5. Tangential Markets
What's really hot now? Maybe there's a related market that spins off
that. For example, baseball caps are huge now... with all ages, it seems.
I've
seen products that allow the owner to keep the hats neat when not in use. I've
seen others that protect the cap's shape while being washed.
Rollerblading is hot. If you don't do it yourself, talk to some
rollerbladers. What's the thing that most bothers them about the
sport? What keeps them from doing it more? Where do they store
their equipment? How does the storage work? If they were
offered a rollerblading vacation trip, would that excite them? Is
there a market for gradations in rollerblades that relate to skill
levels? Would a shopper's guide or expert review of equipment be
worth money to them?
6. Wishes
Take a half-hour and spend time "wishing" for products. By
wishing, you unleash the creative part of your brain. Also, you won't
have to be practical - wishes don't have to be practical! Get a piece of
paper and brainstorm by yourself or with other people. Write down all the
wishes that come up then play with them to create potential products or
services. For example, "Wish I won the lottery" could lead to a
product that helps people play the lottery which might lead to a holder for
lottery tickets or a website with tips for lottery players. "Wish I
could make a living working with cars" might lead to new car toys or toy
cars or driveway cleaners or air filters or a consultancy to new car buyers.
"Wish for an easy way to clear the gutters" might lead to...well, to
an easy way to clear the gutters! Get the idea?
These six sources of ideas for new businesses have one thing in common. They
demand that you pay attention to your environment. The beauty of the
elegant solution -- the new business -- is often that, in hindsight, it seems
so obvious. But inventing it was not obvious. It took sharp eyes
and an open mind to make the connection between a need and a solution and to
create something new.
Peg Kelley (kelley@facplus.com) founded
Facilitation Plus, a consulting firm specializing in facilitating groups in
idea generation sessions. Her
booklet, "39 Secrets for Effective and Enjoyable Meetings" can be
purchased for $6.00.
Facilitation Plus P.O. Box 1072 Watertown, MA 02471-1072 E-mail Peg at kelley@facplus.com
or visit her online at http://www.facplus.com
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