Coming up with great small business ideas can be a little difficult. The reason why is that once you look around it is as if everyone has taken all of the best ones in order to make money. In this day and age the key really is to look around you and figure out how you can take things that people do on a normal basis and make it easier for them. For example, I came across a business that makes their money grocery shopping for people. This helps the customer in several ways but the best overall would be the free time that could be used. I myself hate grocery shopping and would rather be writing an article or two. Well a business as such as that one would be my solution as I make them a list of what I need and while they are doing the shopping for me I’m home doing what I would rather do.
The formula that I find for coming up with a great idea is demand plus low competition equals success. Demand is important because even if you are able to find a low competition market but only 2 people need your service you won’t make much. Competition is important because if the demand is there but there are plenty of people offering a service it will be tough to break into that industry. So how exactly do you measure a market? Look at online stores. They always seem to have a section with the best-selling items. You can take this information and think of how you could create a business helping them.
Great small business ideas thrive on this type of thinking. It is finding a niche within a niche. Let’s say that you find that many people are buying barbecue grills. This is a seasonal thing but for example it is a great one to brainstorm with. Ask yourself what does it require? Coals, the grill, cleaning items, and the list goes on. From there think of how you could create a small business to fulfill a need which is the goal we would like to achieve. Some great small business ideas I came up with was a grill cleaning service or recipe guides. Maybe even a hickory wood or coal delivery service. Finding the people who needs these things are quite easy also. It may require some networking but it is possible. Go visit a place who sell the grill and the needed items to do so. Look at shopping carts and notice what they are picking up. Any items that relate to the niche show that person is a prospective customer. Introduce yourself, what you do, and maybe offer something for free like a free recipe out of the book you have for sale or a free sample of the high quality charcoal you deliver.
This is only an example and was meant to help you think of how great small business ideas are formulated. While writing this I actually came up with 3 markets you could give a try that should get your list going:
Fishing, Household care, and pets are some that came to mind. Ask yourself how you can forge a way into the industry while providing value and you will be successful.
Take your time when coming up with business ideas because you want to start off on the right foot. I find that the more professional you are the more serious people take you. I learned this by simply purchasing the Dymo Labelwriter 450 instead of handwriting my packages and it helped my business greatly. My problem was I did not understand the importance of branding in marketing. As long as you learn from you mistakes you can consider them errors and not errors.