10 Ways To Find a Great Busniess Idea

Category: Entertainment

Presentation Description

No description available.


Presentation Transcript

Slide 1:

10 Ways To Find a Great Business Idea

Slide 2:

You May Be Surprised How Many Business Ideas Are Already Around You Quite often when I meet someone who expresses a strong interest in starting their own business, I ask them: “Why haven’t you moved forward on this?” The most common reason I hear for not proceeding to plan a new business is that the person … DOESN’T THINK HE HAS A GOOD ENOUGH BUSINESS IDEA TO MAKE MONEY FROM IT! By the time you’ve worked thirty years or more and lead an adult life for thirty years or more, you’ve accumulated a lot of work and life skills, and probably developed some strong personal interests. These skills and interests are the foundation for finding a business idea. Follow this presentation to see 10 ways our clients have found a great business idea in what they’ve already done in life…

Slide 3:

Idea Source #1: Find Something Your Employer Isn’t Doing Well and Do It Well Jim was a salesman for a printing equipment distributor. He discovered over time that his company primarily wanted just to sell new equipment and that they didn’t do a good job of selling accessories and supplies to equipment customers. Jim asked some of his larger customers if they would buy from him if he set up his own distributorship selling supplies and accessories. All said “Yes”! Jim found a small space at the back of the plant of a local manufacturing company (he needed a loading dock and fire sprinklers). He chose a name, had a website designed, printed business cards and went out to call on clients he knew from his former job. Within months, he was filling thousands of dollars of orders each week.

Slide 4:

Idea Source #2: Provide a Service That’s Missing From Your Local Area Ann had been a high-powered residential real estate agent in Northern California, whose services included finding tenants for investment condos she had sold to her clients. When her family situation changed, Ann decided to move to the city where her mother was living in retirement – a smaller town in the Southwest. Ann discovered quickly by asking around that wasn’t any company in her new town offering the more full-service and sophisticated property management and investment property purchasing capability she had learned to offer in California. So, Ann launched a full-service property management company using the successful tenant-finding and management process she had long used before. By the end of the first year she was working with several dozen out-of-town investment property owners to rent and maintain their property and had sold a couple of multi-unit apartment buildings as investments.

Slide 5:

Idea Source #3: What Skills Can You Offer as a Freelancer? Nancy had been a very important accounting manger in a corporate finance department and had risen to a position of authority even though she was not a CPA. When her company went through two downsizings, she saw the handwriting on the wall and decided to start an accounting services business on the side. At the time that Nancy launched her then part-time business the QuickBooks accounting program was fairly new in the market and a lot of small business owners didn’t understand how the program worked. Nancy paid to take special training to become a “certified QuickBooks specialist”. She selected a company name, printed a services brochure and business cards and started going to chamber of commerce meetings and lead swapping groups. I’m happy to say that my company because one of dozens of clients that Nancy was serving by the end of her first year in business. (She eventually quit her job to run her company full-time!)

Slide 6:

Idea Source #4: Do You Have a Hobby You Can Offer As A Business? Melissa was a talented, well-trained artist, specializing in charcoal and pencil drawing. As she travelled around her metropolitan area looking for new and replacement art supplies, she was frustrated to find that the typical art store or art section of a larger store seemed mostly focused on watercolor and oil painters, so she often found very little variety in drawing supplies. Melissa’s husband was a very experienced corporate IT manager who had taught himself website design. It dawned on Melissa one day that if she wanted variety in art supplies she would have to find the suppliers herself. She further thought: “If I’d benefit from knowing these suppliers, I bet other drawing artists would too”. So, Melissa and Steve launched an online store dedicated to “all things drawing: and within weeks of launching were receiving a steady stream of orders.

Slide 7:

Idea Source #5: Can You Offer Corporate Work That’s Being Outsourced Ron had advanced from sales manager to general manager for an industrial manufacturing company where his plans and skill had help the company sales grow by more than thirty percent over the previous couple of years. But, when the company merged with a larger company, Ron as out of a job. He quickly discovered through a fruitless job search that many smaller manufacturers were following their Fortune 500 cousins by outsourcing their “general manager” work to outside consultants. Ron seized upon his particular competency – sourcing components from Asia – to serve as the foundation of his service offerings as a consultant. He discovered that companies that formerly wouldn’t give him a job interview now were quite interested in seeking his advice via consulting assignments.

Slide 8:

Idea Source #6: Can You Combine Your Skill With Another Person To Create a Business? Joe always had a keen sense for where to invest his money. And his long corporate management career had taught him how to create successful systems for delivering services on-time and as promised. Joe’s former college roommate and a successful financial planner in the same city as Joe told him that he wanted to introduce a new benefits management service to mid-sized corporations, but with a staff of only one full-time and one part-time employee he needed some help to create the selling and delivery system. So Joe and his close pal created a partnership to bring the new benefits management system to life, with Joe handling the marketing and operations and his friend handling the sales calls. It quickly became obvious that both of them were exactly where they should be and so the venture prospered.

Slide 9:

Idea Source #7: Can You Turn Something You Do Outside of Work Into a Money-Maker? For more than twenty-five years, Jim had been playing the drums in various jazz combos in weekend gigs to supplement his income as a sales manager for a classical music distributor. Over this time, he had accumulated dozens of drums and drum kits, many one of a kind from the “golden age” of U.S. drum manufacturing, the 1960’s. Until he very suddenly lost his job, Jim had looked at his extensive drum collection as a source of fun and maybe an investment asset. But, now as he unsuccessfully searched for two years for a replacement job, it became clear to Jim that at age 60 it now was time to start selling his drum collection. Jim adopted a fun and funky name for his business and worked with an outside designer to create an e-commerce website. Fueled by attendance at drum shows and growing Facebook Friends, Jim is enjoying regular income catering to the whims of drum collectors around the world.

Slide 10:

Idea Source #8: Use a Skill to Provide a Consumer Service That’s In Demand Maggie was an accomplished chef who unfortunately had lost two recent jobs when her restaurant employers went bankrupt. She decided that she could adapt her menu planning and meal preparation imagination to a direct-to-the-consumer service. With many households in her area headed by two working adults, who in many cases were not getting home until 8 o’clock at night during the week, Maggie figured that healthy but tasty meal preparation was suffering. So, she created a business offering gourmet menu selection and meal preparation where the food prep was done in the client’s own kitchen, put into freezer bags and stored in the client’s freezer for quick warming up in the microwave oven. Since each client paid for the food ingredients and she used an office at home, Maggie’s business overhead was very low, permitting her to charge a fair but profitable price for her service.

Slide 11:

Idea Source #9: Provide a Service That Helps People Maintain and Improve Their Homes Julio started as a laborer for a large corporate landscape maintenance company. Unlike most of his fellow workers, at the end of the day Julio didn’t rush out of the company depot. Instead he talked with his supervisor about the insider details of running a landscape company. Based on the many favorable comments his employer received about his friendly, professional work, Julio knew that he was good at understanding what customers wanted and then delivering it. Finally, he decided it was time to go out on his own. Starting with just a pickup truck and some lawn tools, he jumped into residential landscaping work by offering his very fairly priced services to several neighborhoods of older homes where there were a lot of two working couple owners. Today, Julio is the proud owner of a growing landscaping company.

Slide 12:

Idea Source #10: Turn Knowledge Into an Information Product Like many of us, Samantha ran into what were being called “ ebooks ” all over the Web as she surfed around looking for business ideas. She even purchased an ebook on how to use email marketing and downloaded it onto her computer. As she read, the ebook she found a lot of good information and she realized that she too had extensive knowledge to share – she had been helping friends and neighbors for years with low budget, high impact home decorating tips. Following the organization of the ebook on email marketing, Samantha sat down over several weekends and put in writing all of the tips, techniques, resources and processes she had used with her clients over the previous years. She chose a title and figured out the selling price by looking at prices for other “how-to” ebooks . To bring her new ebook to the world, Samantha had a simple but eye-catching website designed and launched. The ebook was an instant success with Samantha receiving $4,000 in orders the first month.

authorStream Live Help