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Guide in Putting Up A Business
Where to Find Business Ideas?
As an aspiring entrepreneur,you may want to know where can you find entrepreneur ideas that will help you on how to put your business and make it successful in the future.Sometimes the hardest part of starting a business is coming up with an idea, whether a small business is a part-time one person operation run out of someone's home or a multi-million dollar company with dozens of employees.Here are some ways you can find resources or ideas of what type of business you wanted to pursue:
> Special interest magazine-articles and advertisements in specific areas of interest like camping and another may be concerned with hobbies.These publications can be helpful if you want to be an entrepreneur.For example,an article in camping magazine may prompt you to ask,"Why is'nt there a camping supplies store in my town?" Your pursuit of an answer to the question maybe the starting point for a new enterprise.
>Trade publications-they contain helpful information regarding new products or services likely to become popular soon.
2.Hobbies- are activities you pursue for pleasure and relaxation.They are often the source of ideas for new enterprises.A business related to your hobby will enable you to spend more time doing what you enjoy most,like pottery,cooking or buy and sell antiques and other collectibles.
3.Merchandise Shows-attending merchandise shows sponsored by manufacturers and distributors is also good for you to find more ideas for a new enterprise.
> Public shows-places where manufacturers and distributors display and demonstrate their products to the public.They are opened to all persons who wish to attend.Examples are;
- Home and garden shows-home improvements,appliances, re-modelling,and gardening products and services are featured.
- Sports ,vacations and travel shows-boats,camping equipment,and sporting goods are exhibited.
- Camping and recreational vehicle shows-features tent campers,truck campers,vans and motor homes.
- Auto show-Domestic and imported cars are displayed.
- Mobile Phones and Gadgets-features the latest brand that out in the market like the Apple which they unbox the new Iphone 6 to the public.
>Trade shows-often exhibit of products from many suppliers will be organize by groups of manufacturers or wholesalers,and they are open only to people engaged in a particular line of business or trade.For example,apparel shows are held each year so retailers can preview new fashions and order merchandise in ample time for the next season.You must remember that trade shows are not held everywhere.Other examples are in trade areas such as furniture,hardware,housewares and sporting goods.
4.Craft and Hobby Shows -are places where people show others what they do in their spare time.For example,coin collectors may display their collections for all to see or those who work in pottery may demonstrate the craft for others.They are held frequently in local shopping malls,exhibit halls or parks.
5.Newspaper-is a periodical publication containing news, other informative articles (listed below), and usually advertising. Some have been described in the newspaper as follows:
- Bicycle sales are up sharply as business business people abandon the auto.
- ....men's factory outlet clothing stores set sales records.
- mobile home firms are entering a new phase of fast growth with small enterprise in the lead
- solar water heaters gain popularity
- demand grows for home CCtv products
Pay attention to news items that signal changes in consumer needs.Such changes often mean that consumers will buy either more or less of certain products or services.Advertisements online also great ways to find new ideas ,because many people are engaging to social network and thus,you will know what people are thinking and what is being trends in the business.
- Informal-you can conduct informal survey by talking to your family and friends.You may ask them what new businesses they think are needed in town or,you may ask if there are products or services they are not able to purchase locally. Observing business activity in the community is one way of conducting informal surveys.Observation might reveal the need for particular enterprises.
- Formal-when you used formal surveys ,a list of question is drawn up and then asked in interviews with many people.Persons from throughout the community should be interviewed,especially those who are potential customers for the new enterprise.It is useful in identifying shortcomings and in determining needed products and services.
7.Brainstorming is a technique used to solve a problem by generating as many ideas as possible.There are rules in brainstorming in a group and on individual.Though,some new enterprise ideas are identified by chance,brainstorming is one way you can stimulate ideas
RULES IN BRAINTORMING
- Don't judge your own ideas until you have finished the list.Never erase or scratch out ideas.
- Do some freewheeling.Don't be afraid to write farfetched ideas.
- Try for Quantity
- Combine and improve.Write down all ideas that come to mind.Then add to the list by combining and improving ideas.
- Don't criticize another's person ideas.Group leaders should avoid discourage phrases like:"That's a dump idea."Group members will tend to talk less if this happen.
- Encourage freewheeling-the wilder the ideas,the better.
- Try for quantity-the larger the number of ideas,the better the chances of getting new ones
- Combine and improve-group member should state their own ideas,suggest the ideas and turn it to better ideas.
8.Internet or Surfing the Web- we have the most efficient yet informative tools so that we can get many information regarding of what you would like to know more in business ,that is surfing the internet,you can get more ideas,more options,more innovative business ideas.
Information Gathered in Formal Surveys
- Shortcomings or Weaknesses in Existing Enterprises
- Needed Products or Services
>Shortcomings or Weaknesses in Existing Enterprises-formal surveys are useful in determining shortcoming of an enterprise.The existence of several businesses of one type does not necessarily means you should not start similar enterprise.For example,consumers may not satisfied with the existing car wash services in town.However,they may continue to patronize these businesses merely because there are no other choices.The car wash services who pleases the customers may not have to worry about competition.The more people you interview,the better of chances of getting a clear picture of business in the community.
>Needed Products or Services-surveys of business in the community may reveal new enterprise opportunities.Retailers,wholesalers and manufacturers could be asked what products or services they purchase in other cities.For example,businesses may have to buy wooden shipping crates or office supplies for dealers in another city because they are not available from local sources.Making needed products or services available locally can be the basis for a new enterprise.
Pet Grooming Tips and Techniques
Please answer the following
Among the list of business ideas,which do you prefer to start?
List of Some Small Business Ideas
This list of some small business ideas includes everything from personal services, to retail opportunities, to environmental services, to pet-related ideas, to technology businesses. Use this list to identify the business idea that is perfect for your situation.
Air Duct Cleaner
Antique Furniture Sales
Appliance Repair Technician
Cloth Diaper Service
Computer Repair and Maintenance
Customer Service Professional
Data Entry Service
Direct Mail Marketing Service
Disaster Planning and Prevention Service
What to Keep in Mind
Putting up a business is a huge step,so before diving into the world of business,the most important to consider is your financial standing.Think of these question?
- Do you have enough money to build your own business?
- What will you do if your business don't bloom or bankrupt?
- Would you able to pay your debts or liabilities?
You have to think ahead of time for all the possible scenario that you will counter along the way,so that you will be able to make your business flow and far from any greater problem in the future! A wise man think first all the details not only twice but every time just to ensure that all his efforts will paid of.
As for me,taking from my experiences,to be successful,you must put your heart into it,be patient,determination and ability to plan,and most of all, trust in God, that all will be good in time!