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Will You Add? - How To Come Up With A Business Idea
If you read books on investment or business, you’ll know that all the experts tell you to develop an “exit strategy” for your investments or your business, even while writing the business plan. Without using a bunch of financial jargon, basically it’s setting up a plan to make sure you get the MOST out of your assets when you sell or close the business or investments.So how does this relate to you? Developing an exit strategy should be an essential part of EVERYONE’S career plan. Why? YOU ARE YOUR MOST IMPORTANT ASSET! Think of yourself as Me, Inc. You are your own CEO. You want to be in control of your own career, on your own terms. In your current position, you’ve no doubt invested a lot of time and effort to get where you are, to know what you know.Think about the following scenarios: You
What really annoys you? Could you provide a solution?
Examples could be:
• Providing quizzes for people that are on-hold.
• Solving the problem of noisy neighbours
TECHNIQUE 8: COMBINING PRODUCTS OR SERVICES
How could you combine two existing products or services to make something new?
Examples could be:
• Enabling people to order takeaway, a video & popcorn to be delivered to their home at a certain time.
• Bar selling soft drinks and smoothies to kids.
TECHNIQUE 9: IMPROVE A PRODUCT OR SERVICE
Think of an example of a poor service – how could you improve it?
Examples could be:
• A site that will help you come up with a present for the person who has everything.
• A restaurant where you can order meals by typing numbers into a keypad without speaking to anyone.
TECHNIQUE 10: BUY A FRANCHISE
Look at franchises for ideas for a business. Buy one or start your own version.
There are
Congratulations. Med school is finally in the past. You graduated with an MD and you’re ready for the next step: residency.After medical school, the average graduate spends two to eight years in residency. This is the time to further your training and eventually become licensed to practice. Now that you’ve chosen your specialty, here are some tips to get you through your postgraduate study.If you’re not sure about something, ask for help. One person can’t know everything and you don’t want to make a mistake. Take the time to ask for a second opinion.Have a good attitude. Working in the medical field is a high stress environment. Certain things have to be done immediately and snapping at other people adds to the tension. Everyone involved understands the urgency of their jobs, so try to add some calmness to the
We’ve put together this fact sheet to give you some techniques you can use to find the right idea for you, but when you do come up with the right idea, remember:
• People in general are very negative. You will always find someone who says “What if…” or “That will never work” or something similar and this can be hard when the person who is saying this is those close to you. That’s why you’ve got to believe in your idea enough to say “I can do this.”
• Don’t be put off by competition. Competition is a good thing – it shows there’s a market for a business idea. You can always do it better, quicker, or differently than someone else. All is not lost with your idea just because someone else has decided to do it too.
Ways to come up with a business idea
To use these techniques, you’ll need to get your creative hat on. Forget about the little voice in your head that says “that’s a silly idea” and get everything you think of down on paper. You can always dismiss them later. Work with a friend or family member if it helps – sometimes two or more people can be more creative than one.
TECHNIQUE 1: WHAT CAN’T YOU BUY?
Have a think about what you have seen abroad that you can’t buy here or what you have seen here that you can’t buy abroad? What did you used to be able to buy but you can’t buy it now? What have you tried to buy and found that it wasn’t available?
Examples could be:
• Toilet seat covers that they have in the US. I haven’t seen them very often over here.
• Shoes for different sized feet.
• Pet movers to take the stress out of moving a pet to a new house.
TECHNIQUE 2: WHAT OPPORTUNITIES HAVE BEEN CREATED BY CHANGE?
We live in a different world now – we have no time anymore and it feels like a scarier place. What business ideas could you think of to help?
Examples could be:
• How about a device that could fit into a watch so parents could see where their children are on a map?
• PA to pick up your dry cleaner, pay your bills and organise your builder.
TECHNIQUE 3: WHERE CAN YOU MEET CUSTOMERS?
Think about where you can meet customers: at home, mail order, internet, shows and events, workplace, agents, on wheels, phone – what business ideas would help you to reach customers in this way?
Examples could be:
• Language lessons by phone
• Window cleaning that’s guaranteed.
• A caf? where you can order food on-line and have it delivered to your desk.
• Mobile fancy dress to the customer.
TECHNIQUE 4: WHAT TRADES NEED UPDATING?
What trades can you think of that have been around for a while and are very traditional. Could you update them?
Examples could be:
• Hairdressers with wine bars inside them
• PA specialising in builders that could handle their quotes and paperwork
• Car mechanics that are in the style of a hospital
TECHNIQUE 5: ADAPT A SUCCESSFUL BUSINESS IDEA
Look at businesses that are successful – how could you adapt them? Could you apply this idea to another business?
Examples could be:
• A fine artist who makes sculptures out of chocolate
• Mobiles are successful, but not many people know how to use the new technology – could you train people how to use them and other technologies?
TECHNIQUE 6: BUSINESSES IN TROUBLE
Just because a business is in trouble, doesn’t mean that it would be if you ran it. What businesses do you like the concept of and can you provide a solution for?
Examples could be:
• Amazon selling books/CDs etc on-line rather than on the high street
• Ebay solving the problem of unwanted goods
TECHNIQUE 7: WHAT IRRITATES OR FRUSTRATES YOU?
What really annoys you? Could you provide a solution?
Examples could be:
• Providing quizzes for people that are on-hold.
• Solving the problem of noisy neighbours
TECHNIQUE 8: COMBINING PRODUCTS OR SERVICES
How could you combine two existing products or services to make something new?
Examples could be:
• Enabling people to order takeaway, a video & popcorn to be delivered to their home at a certain time.
• Bar selling soft drinks and smoothies to kids.
TECHNIQUE 9: IMPROVE A PRODUCT OR SERVICE
Think of an example of a poor service – how could you improve it?
Examples could be:
• A site that will help you come up with a present for the person who has everything.
• A restaurant where you can order meals by typing numbers into a keypad without speaking to anyone.
TECHNIQUE 10: BUY A FRANCHISE
Look at franchises for ideas for a business. Buy one or start your own version.
There are 8
Applying for a Business visa is a major undertaking especially if you are thinking of relocating your business in Canada. One of the main processes to start the ball rolling is to be able to prove that the funds you have available are not the proceeds of crime. Any applications have to be made from the country of residence of the applicant.People who are experienced in business matters or have sufficient funds for investment could qualify for a Business Visa. They are expected to contribute to the development of the Canadian economy either by investing in or starting a business in Canada. There are three different types of Business Visa Immigrant that can be applied for:1. Investors - this program is aimed at people with at least two years recent business experience and sufficient capital. Investors must have a minim
Ways to come up with a business idea
To use these techniques, you’ll need to get your creative hat on. Forget about the little voice in your head that says “that’s a silly idea” and get everything you think of down on paper. You can always dismiss them later. Work with a friend or family member if it helps – sometimes two or more people can be more creative than one.
TECHNIQUE 1: WHAT CAN’T YOU BUY?
Have a think about what you have seen abroad that you can’t buy here or what you have seen here that you can’t buy abroad? What did you used to be able to buy but you can’t buy it now? What have you tried to buy and found that it wasn’t available?
Examples could be:
• Toilet seat covers that they have in the US. I haven’t seen them very often over here.
• Shoes for different sized feet.
• Pet movers to take the stress out of moving a pet to a new house.
TECHNIQUE 2: WHAT OPPORTUNITIES HAVE BEEN CREATED BY CHANGE?
We live in a different world now – we have no time anymore and it feels like a scarier place. What business ideas could you think of to help?
Examples could be:
• How about a device that could fit into a watch so parents could see where their children are on a map?
• PA to pick up your dry cleaner, pay your bills and organise your builder.
TECHNIQUE 3: WHERE CAN YOU MEET CUSTOMERS?
Think about where you can meet customers: at home, mail order, internet, shows and events, workplace, agents, on wheels, phone – what business ideas would help you to reach customers in this way?
Examples could be:
• Language lessons by phone
• Window cleaning that’s guaranteed.
• A caf? where you can order food on-line and have it delivered to your desk.
• Mobile fancy dress to the customer.
TECHNIQUE 4: WHAT TRADES NEED UPDATING?
What trades can you think of that have been around for a while and are very traditional. Could you update them?
Examples could be:
• Hairdressers with wine bars inside them
• PA specialising in builders that could handle their quotes and paperwork
• Car mechanics that are in the style of a hospital
TECHNIQUE 5: ADAPT A SUCCESSFUL BUSINESS IDEA
Look at businesses that are successful – how could you adapt them? Could you apply this idea to another business?
Examples could be:
• A fine artist who makes sculptures out of chocolate
• Mobiles are successful, but not many people know how to use the new technology – could you train people how to use them and other technologies?
TECHNIQUE 6: BUSINESSES IN TROUBLE
Just because a business is in trouble, doesn’t mean that it would be if you ran it. What businesses do you like the concept of and can you provide a solution for?
Examples could be:
• Amazon selling books/CDs etc on-line rather than on the high street
• Ebay solving the problem of unwanted goods
TECHNIQUE 7: WHAT IRRITATES OR FRUSTRATES YOU?
What really annoys you? Could you provide a solution?
Examples could be:
• Providing quizzes for people that are on-hold.
• Solving the problem of noisy neighbours
TECHNIQUE 8: COMBINING PRODUCTS OR SERVICES
How could you combine two existing products or services to make something new?
Examples could be:
• Enabling people to order takeaway, a video & popcorn to be delivered to their home at a certain time.
• Bar selling soft drinks and smoothies to kids.
TECHNIQUE 9: IMPROVE A PRODUCT OR SERVICE
Think of an example of a poor service – how could you improve it?
Examples could be:
• A site that will help you come up with a present for the person who has everything.
• A restaurant where you can order meals by typing numbers into a keypad without speaking to anyone.
TECHNIQUE 10: BUY A FRANCHISE
Look at franchises for ideas for a business. Buy one or start your own version.
There are
In infomercial creation, there are a number of different options available to you. You can hire someone to do the work for you or you can do it yourself. There is much to consider about this process though so taking the time to plan and execute each step of it will help you to better achieve the results that you are looking for. For many, infomercial creation is the beginning of selling their product effectively.Why should you hire a team to handle your infomercial creation? Here are some helpful things to think about when considering this aspect.• Infomercial creation is designed in such a way that it will sell. In other words, really ask yourself if you are a salesman. Do you think that you can present every aspect of potential that your product has? On top of that, do you think that you can provide high qua
We live in a different world now – we have no time anymore and it feels like a scarier place. What business ideas could you think of to help?
Examples could be:
• How about a device that could fit into a watch so parents could see where their children are on a map?
• PA to pick up your dry cleaner, pay your bills and organise your builder.
TECHNIQUE 3: WHERE CAN YOU MEET CUSTOMERS?
Think about where you can meet customers: at home, mail order, internet, shows and events, workplace, agents, on wheels, phone – what business ideas would help you to reach customers in this way?
Examples could be:
• Language lessons by phone
• Window cleaning that’s guaranteed.
• A caf? where you can order food on-line and have it delivered to your desk.
• Mobile fancy dress to the customer.
TECHNIQUE 4: WHAT TRADES NEED UPDATING?
What trades can you think of that have been around for a while and are very traditional. Could you update them?
Examples could be:
• Hairdressers with wine bars inside them
• PA specialising in builders that could handle their quotes and paperwork
• Car mechanics that are in the style of a hospital
TECHNIQUE 5: ADAPT A SUCCESSFUL BUSINESS IDEA
Look at businesses that are successful – how could you adapt them? Could you apply this idea to another business?
Examples could be:
• A fine artist who makes sculptures out of chocolate
• Mobiles are successful, but not many people know how to use the new technology – could you train people how to use them and other technologies?
TECHNIQUE 6: BUSINESSES IN TROUBLE
Just because a business is in trouble, doesn’t mean that it would be if you ran it. What businesses do you like the concept of and can you provide a solution for?
Examples could be:
• Amazon selling books/CDs etc on-line rather than on the high street
• Ebay solving the problem of unwanted goods
TECHNIQUE 7: WHAT IRRITATES OR FRUSTRATES YOU?
What really annoys you? Could you provide a solution?
Examples could be:
• Providing quizzes for people that are on-hold.
• Solving the problem of noisy neighbours
TECHNIQUE 8: COMBINING PRODUCTS OR SERVICES
How could you combine two existing products or services to make something new?
Examples could be:
• Enabling people to order takeaway, a video & popcorn to be delivered to their home at a certain time.
• Bar selling soft drinks and smoothies to kids.
TECHNIQUE 9: IMPROVE A PRODUCT OR SERVICE
Think of an example of a poor service – how could you improve it?
Examples could be:
• A site that will help you come up with a present for the person who has everything.
• A restaurant where you can order meals by typing numbers into a keypad without speaking to anyone.
TECHNIQUE 10: BUY A FRANCHISE
Look at franchises for ideas for a business. Buy one or start your own version.
There are
Business forms help in running a business smoothly and successfully by maintaining information about various business activities in an organized way. They provide a quick reference to the company records and every day transactions. They also help in handling various office operations effectively. Further, business forms with company name and logo helps in brand building and enhancing credibility by projecting a professional image.Types of Business FormsThere are different types of business forms available in market that are specially designed to suit the requirements of different kinds of business firms like stock marketing, consultancy, corporations, real estates, and other businesses.Some most commonly used business forms are Sales Books, Sales Slips, Invoice Forms, Statement Forms, Receipt Books, Pur
Examples could be:
• Hairdressers with wine bars inside them
• PA specialising in builders that could handle their quotes and paperwork
• Car mechanics that are in the style of a hospital
TECHNIQUE 5: ADAPT A SUCCESSFUL BUSINESS IDEA
Look at businesses that are successful – how could you adapt them? Could you apply this idea to another business?
Examples could be:
• A fine artist who makes sculptures out of chocolate
• Mobiles are successful, but not many people know how to use the new technology – could you train people how to use them and other technologies?
TECHNIQUE 6: BUSINESSES IN TROUBLE
Just because a business is in trouble, doesn’t mean that it would be if you ran it. What businesses do you like the concept of and can you provide a solution for?
Examples could be:
• Amazon selling books/CDs etc on-line rather than on the high street
• Ebay solving the problem of unwanted goods
TECHNIQUE 7: WHAT IRRITATES OR FRUSTRATES YOU?
What really annoys you? Could you provide a solution?
Examples could be:
• Providing quizzes for people that are on-hold.
• Solving the problem of noisy neighbours
TECHNIQUE 8: COMBINING PRODUCTS OR SERVICES
How could you combine two existing products or services to make something new?
Examples could be:
• Enabling people to order takeaway, a video & popcorn to be delivered to their home at a certain time.
• Bar selling soft drinks and smoothies to kids.
TECHNIQUE 9: IMPROVE A PRODUCT OR SERVICE
Think of an example of a poor service – how could you improve it?
Examples could be:
• A site that will help you come up with a present for the person who has everything.
• A restaurant where you can order meals by typing numbers into a keypad without speaking to anyone.
TECHNIQUE 10: BUY A FRANCHISE
Look at franchises for ideas for a business. Buy one or start your own version.
There are
There are numerous ways you can promote your small business as well as stay in touch with your prospective clients by writing. Some common methods of written works include ezines, articles, e-courses, free reports, booklets, how-to manuals, and ebooks. Writing allows you to demonstrate your knowledge in your specialty area and provide valuable information that prospects can use. It also sets you up as an expert in their eyes - and people like to hire experts. uHere are seven different ways you can promote your small business by writing.Newsletter or EzineAn ezine is the #1 way to promote your services online. Offering a newsletter, an ezine, a free report, or a course by email are the easiest ways to and grow your database for your businessArticlesWriting articles is a very effectiv
What really annoys you? Could you provide a solution?
Examples could be:
• Providing quizzes for people that are on-hold.
• Solving the problem of noisy neighbours
TECHNIQUE 8: COMBINING PRODUCTS OR SERVICES
How could you combine two existing products or services to make something new?
Examples could be:
• Enabling people to order takeaway, a video & popcorn to be delivered to their home at a certain time.
• Bar selling soft drinks and smoothies to kids.
TECHNIQUE 9: IMPROVE A PRODUCT OR SERVICE
Think of an example of a poor service – how could you improve it?
Examples could be:
• A site that will help you come up with a present for the person who has everything.
• A restaurant where you can order meals by typing numbers into a keypad without speaking to anyone.
TECHNIQUE 10: BUY A FRANCHISE
Look at franchises for ideas for a business. Buy one or start your own version.
There are 800 franchises in existence. You can find many of the opportunities on franchise sites such as: http://www.british-franchise.org/
TECHIQUE 11: WHAT DO YOU SEE AROUND YOU?
Look around you. There are ideas for business ideas all around us – what can you see?
Examples could be:
• A restaurant that sells Starters and Desserts.
• A caf? that caters only for children.
TECHNIQUE 12: YOU!!
This is your secret weapon. Sit down with a group of friends or family and tell them about yourself. Pretend they don’t know you. What things do you like / what don’t you like? What hobbies and interests do you have?
Then get them to come up with some business ideas for you…what can you think of?
Using these 12 techniques should help you to come up with a business idea that you feel is right for you. If not, keep looking or contact me on helen.dowling@exceptionalthinking.co.uk for some help. We’ll happily have a free, no obligation chat with you to see if we can help.
If you come up with an idea, the next step is to see whether or not it’s feasible and whether it will work. That’s also where we can help as we specialise in doing market research and writing business plans. Send me an email on helen.dowling@exceptionalthinking.co.uk or give me a call on 0845 644 9371 to see if we can help.
Finally, don’t be too concerned about coming up with the ‘right’ idea that you never actually start a business. Remember you can always change a business if it’s not right for you – it is your business after all.
Good luck and don’t forget to let us know how you’re getting on.
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