How to set up a new business in a savvy way

How to set up a new business in a savvy way

Yes! You have finally made the decision to start your own business. You know you have the energy, passion and commitment of an entrepreneur, but you’re just not sure about the actual business idea. Don’t get frustrated – inspiration is all around you. We have summed up for you some handy tips and tricks to get you going:

Problems will lead to solutions

The easiest way to begin your search for a good business idea is by listing the every-day problems in your own life. Try to list some problems that no one has addressed ever before. If you can come up with a service or product that could solve that problem, you have the starting point of your business plan. Alternatively, look for problems that other people and/or companies are having.

An inspiring hobby

Sometimes the greatest ideas grow from a hobby or a side project. If you’re having trouble finding your next business idea, just start a side project and the ideas will start to flow. Try to avoid focussing too much on finding the perfect idea, because brainstorming in a pressured way won’t work.

Building a business network

Think about the saying: “two heads are better than one”… talk and listen to other people. Keep your ears and eyes open for any new ideas.

Try to get in touch with everyone you already know in the business world. Ask them if they can introduce you to the most interesting business people they know. Another efficient way is to look on LinkedIn, for specific industry groups that may help you.

Also try to read as much as possible on your business idea. The more discussion around a topic, the more likely it is to signal a potential business idea.

Opening new doors

If you want to take it to the next level and are really serious about finding the next great business idea, reach out to people beyond your own network. Many entrepreneurs are amazed how easy it is actually to open doors and have conversations in the industry. Most of the successful influencers won’t mind having a meeting to explain you what works well and what doesn’t.

Go outside

If you are getting frustrated with trying to find that great business idea… just stop looking! “One cannot find a great business idea, a great business idea finds you,” said Greg Isenberg, a 25-year-old entrepreneur, founder of Wall Street Survivor and CEO of mobile video app 5by.com. He recommended finding a relaxing location – countryside, mountains or beach – to get your creative ideas flowing.

 

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