There are great business ideas all around, you just need to open yourself up to finding them. You might be looking to escape typical 9 to 5, or you could just want a way to earn extra income on the side, either way you need to start with a working idea.
The MOBE training guide below will show you simple ways of generating quick business ideas that don’t require much capital or commitment, but will help you earn great extra income.
- Take a Personal Inventory
List out your assets. Assets may include the following:
- Things you own, like cars, home, computer, etc.
- Things you know; for example, cooking, writing, fashion.
- Things you are passionate about include things you take special interest in, e.g. children, frugal living, healthy eating.
- Who you know; this could include family, friends, business contacts, potential clients, etc. Think of everyone who might have a direct influence on your business.
- Determine a Need
What are people currently looking for that you have to offer? Look through your inventory list and find something that solves a problem in your local community. For example, your community could be made up of busy corporate people who aspire to eat healthy but don’t have the time to make their own meals. You could provide a small catering service that deliver lunches to offices.
- Go with The Tried and Tested
Once you have identified problems in your community and business ideas that could solve them, look at markets to see what is already working. Breaking into a completely new market may be demanding and can take a long time before you see any profits, so it is safer to stick to what is already working.
- Start Small
Test the viability of your business idea. If you are starting a catering company, look into the people you know and test the idea on them. Is it conducive? Are the customers interested and do they come back? Increase your market in small quantities until your business is well established and ready to take on a larger market.
Starting a business is not as hard as it seems, but it requires commitment and perseverance to see it through. There will be many ups and downs, and without dedication, your business will not go anywhere no matter what idea you choose.