You’d like to start a business, and you’ve been considering the possibility for a long time. Being an entrepreneur is admirable, but how do you stand out from the crowd? A University of Phoenix survey found that 63% of people who are in their twenties either already have their own businesses or would like to someday.
The first step to any successful business is cementing a great idea. Whether you’re already toying with something that may the next big thing, or you have a million thoughts and need to nail down what’s most likely to succeed, here are some tips to hone your business ideas and get going.
Discover What Brings You Satisfaction
You’ve probably heard this over and over again—do something that you love. While this may seem cliche, it rings true in the business world; many successful entrepreneurs agree that you have to invest in something you enjoy doing. Through this, both you and your business will thrive.
Some people regard this ideal as a pipe dream, but it’s possible to turn the principle into a business idea by calculating how to monetize your passions. If you enjoy CrossFit, try opening your own gym. Transform your cupcake hobby into a flourishing bakery. Thousands of people have taken what they love and turned it into a business; if you can find a variation of what provides you fulfillment and satisfaction, this is a great way to make a living.
Consider What Frustrates You
If you’re unsure how to pursue what you love or you’d like to try a different route, consider what happens to be the biggest frustration in your life. Then, think of what you would do to solve it. And there it is—your business idea. This is simplified, however, it is a viable option for finding success, as many great businesses have been born from a problem that needed addressing. The most famous example is the lightbulb to combat darkness. Sometimes, your problems are actually your path to success and profit.
Identify A Problem In the World
Similar to the above, this option requires that you consider a world-wide problem that’s not only frustrating but inconveniencing millions of people or decreasing their quality of life—in other words, it’s serious. Many forward-thinking innovators, such as Elon Musk, are currently leaving their mark. These men and women attempt to address the problems that face all of humanity and prove that starting to implement solutions now can indeed make an impact. Entrepreneurs know better than anyone that there’s no time like the present to begin tackling problems.
Embrace Your Creativity
A successful business often depends on creative abilities such as adaptation to change and an openness to unexpected inspiration. Keep your eyes and ears open for anything that may lead you to ideas. This means you need to be willing to take risks, get out in the world, and embrace new intentions, even if they’re a complete departure from what you had in the first place. As long as you experience new sensations and destinations, the answer to your success will be out there.
It’s exciting to consider starting a business, and if you’re thinking about it, you’re not alone. The first thing to do is come up with an idea that will change your life, an industry, or the world. Is it a problem—either personal or world-wide? Something you’re already passionate about? Or, do you need to get out into the world and experience all you can before settling on your great idea? The good news is, finding inspiration is possible for anyone. If you are still debating if starting a business is the right path for you then check out this previous post Are You Cut Out to Run Your Own Business.
Written by Laura Myers