Business Marketing & Finance Resources

Let’s look at a consistent method in 5 steps; we will identify a good business opportunity:

1. Brainstorming

First we make an extensive list of business ideas that we can find, and that can be attractive.

To find these ideas, a technique may be to write an activity we like to make, and then write all the businesses, products or services related thereto. You can do this for various activities that we like.

Or, simply, we can go to various sources such as Internet, libraries, publications, family, friends, etc.

The idea here is to achieve a list of some 200 business ideas that have some appeal for us, no matter at an early moment, we seem far-fetched.

2. Evaluate each idea

Secondly we evaluate each of the ideas for business, so, to every idea, answer the following questions:

* Is there enough demand for that product or service? (Are there enough customers willing to purchase or use?)
* Goods or services to offer cover a need in the market?
* Address a growing market?
* Do not have much competition?
* Is the business is based on an innovative product or service?
* Does the product or service present an added value?
* Does the product or service has or may have a differentiation? (Something that distinguishes it from competition, which is innovative, and it would hardly be imitated by the competition)
* The product could create a higher quality than the competition?
* Could provide better customer service than that offered by competitors?

These questions can be answered with “yes” or “no”, or we can respond openly. The ideas that have a higher percentage of negative responses, the ruling will go, leaving us with ideas that have a higher percentage of positive answers.

At the end we should stay with a group of 10 to 15 business ideas.

3. Deeper analysis

These 10 to 15 business ideas that we have selected, subjected to more rigorous analysis, where indicated the benefits or advantages or disadvantages and problems that could present each idea.

To do so, to every idea, answer questions more complex than previous ones, such as:

* There could be difficulty in producing or marketing the product, or provide the service?
* I have the knowledge necessary to mount such a business? Or, in any case, I have the contacts or the right people that could help me with it?
* I have enough capital to set up such business or enterprise? Or, in any case, I have the ability to access some funding that allows me to do this?
* How can I access or have the necessary resources, as well as financial, to create this business?

After this analysis we will choose the best business idea, which will undergo the feasibility study.

4. Feasibility Study

The idea that we selected in the previous section, was subjected to a feasibility study which involves making a small, informal market research where our goal is to get a first idea of the viability of the business.

In this informal market research, competitive business visit and discuss their strategies and errors, we acquire their products or use their services, customers do small surveys that power, or people who have worked in similar businesses, we will consult professionals, etc.

This research will give us a first idea of the viability of the business idea, if convinced of its viability, we turn to the next step where you will submit the idea to develop a business plan.

But if after doing this research, we are not convinced of the viability of the idea, we take the next most important idea from the list we had developed in the previous section, and submit to this study.

5. Business Plan

And finally, once approved the idea of business in the pre-feasibility study, we will submit this idea to develop a business plan.

In this business plan, through a more formal market research, and a study on the investment of the business, know the profitability and other aspects that help determine the viability of the business, i.e. will tell us whether our initial business idea is a good business opportunity.

Many people expect to find one day your great business opportunity, others looking for great business ideas to start, others wait to put together a good capital to start his new business.

The common factor in these people is that probably never get to create your own business or enterprise.

Expect to find a great opportunity, look for big business ideas, or wait to accumulate a good sum of money to start a company, seem to be only excuses for not decide once and for starting a business.

If anything we should learn from big business or businesses, is that started as small businesses.

Are small businesses that we will have a great company?

Maybe at the beginning not very clear as we achieve it, but we must be sure of is that our small business start, we become more adept at identifying opportunities, know people who can give us clues business, and we become better able to conduct business.

Having a small business, does not mean you can gradually grow into a large company, or in the future we may modify or redesign the business, or know people that manage, identify new needs, or we come up with new opportunities and thereby create new businesses.

Therefore, the recommendation is do not expect much to begin at once our own business, let us not spend time waiting for the big occasion, looking for big trips, or gather a good capital to create one. Let’s start a bit with a small business, and only have one day come to our great business.

If you’re in the situation of wanting to set up their own business, but still do not know what business to you here are some ideas to help you find the right business for you.

Most are about ideas for businesses that do not require much initial investment, which now have a good potential for profitability, and you can start immediately, working part time without having to sacrifice even your job (if you own one).

Similar or related business to our employment

Many people who have achieved success in their business, they began their journey as entrepreneurs start a business similar or related to the business where previously employed as employees.

Riding a business similar or related to the company where we work or worked, not only allows us to leverage all the knowledge and experience we have gained, but also allows us to leverage the entire network of contacts we have built through years.

For example, for years we have worked with a company that sells a product, we could ride our own company where we sell that product for years we have known so well.

If we do not have enough money to start a similar business to business where we worked, we could just start slowly, for example, initially limited our market, or the variety of our products.

Business advice

Another business idea is to start a business in which we provide advisory or consulting services to individuals and businesses about a topic that dominates.

Could provide advice, for example, about business, marketing, personal development, personal finance, laws, taxes, or any matter on which we have knowledge and experience.

For our consulting business, you do not need to buy or rent a room or an office, simply install a room or an office in our house, or we could provide our advisory services through Internet.

For example, if we have worked for years to play a role in a company, we can now offer the same work we were doing as employees, but this time as entrepreneurs.

May even start offering our services to the same company where we worked (if our performance was good during the time we were as employees, it is likely that the company agrees to hire our services).

Businesses where we teach what we know

A variation of the previous business type, is a business where we master what we teach, that in which we have knowledge and experience.

This is not necessary to be expert in a topic, just enough to enthusiastically share what we do so well while we are gradually learning more and more in the process.

For example, if we master the subject of marketing, we could create a marketing workshop, to provide online courses on marketing, providing advice on marketing, create and sell an ebook on marketing, etc..

Or, for example, if we consider good for any discipline (for example, yoga), we could install a yoga workshop at home, or offer yoga classes at home, to homes or businesses.

Multilevel Business

Another idea for businesses that require minimal investment to implement, with good potential for profitability, and we can start immediately, are multilevel business.

It is true that many people who start an MLM business soon leave him disappointed in not getting the expected results, but it is also true that today they are multi-level businesses make money by allowing thousands of people.

It’s a question of choosing a good multi-tier enterprise (which provide a high quality product, that has a good system of payments and commissions, offering a good training) and have a lot of work, effort and dedication.

Internet Business

Other businesses that do not require more investment, which offer good potential for profitability, and we can start immediately from the comfort of our home, is business online.

As multi-business, many people who start an Internet business soon leave him disappointed in not getting the expected results, but it is also true that today’s Internet business will make money are allowing thousands of people.

It’s a question of taking the right decisions and have much patience and dedication, not to think that we will begin to earn thousands of dollars from time to time, but know that usually succeed with an Internet business takes a while .

Business related selling

Finally, another business idea that does not require further investment to implement, is business related to sales.

Over the years many people who achieved success with their business, they began their journey as entrepreneurs setting up a business related to sales and in many cases, people who at first had little or no money.

The possibilities of starting a business for sales are varied, we could sell them home-made, products in bulk to get lower prices, produce goods that we send to others, used products we buy and then fix it, etc.

It’s a question of selling a good quality product that is unique or new that satisfies a need, it’s really useful and have some characteristics of the sellers, such as patience and perseverance.