How to Find New Ideas In Which to Invest as an Entrepreneur

Great ideas don't fall from the sky, but they do require imaginative thinking.

Many people want to be an entrepreneur--if only they could hit upon that fantastic, never-been-tried before idea that will make them rich. In fact, it rarely happens that way. Coming up with an idea for a new enterprise requires research, communication, and hard thinking.

Things You'll Need

• Computer and Internet access
• Notebook
• Industry publications

Instructions

1. Consider your own interests and aptitudes. What are you naturally good at? Consider an auto-repair business if you love tinkering with cars. What are your dislikes? Don't start a daycare business if you hate kids.

2. Brainstorm business ideas. Write down any idea, no matter how impractical; many business ventures that seemed impossible have blossomed into successful businesses. Looking at a list of ideas written down might help you discover patterns and connections.

3. Ask around your social networks at work, at church, and among friends and family. What do people gripe about or wish they could change? Could you start a business to provide a service people need, or improve how things flow at work? For example, you might notice that people complain about the high price of printer cartridges. A solution might be to open a cartidge-refill kiosk at your local mall.

4. Develop an understanding of industry and market trends. Subscribe to journals and publications in fields that interest you, and read them cover to cover.

5. Stay current with news. Visit government websites for the Bureau of Labor Statistics or the Bureau of the Census to get a sense of economic and demographic patterns. Peruse nonfiction best-seller lists to see what other people are reading.

6. Check out entrepreneurship resources like Entrepreneur.com and small business websites. These resources keep lists of business ideas, from selling flower-pots to starting a consulting firm, and profile successful entrepreneurs. Network with the community you find in entrepreneurship forums and get your business ideas flowing.

7. Find ways to fulfill a need. Businesses exist to provide services that customers consider valuable. Figure out what people want--or don't yet know what they want--and you have your business idea.

References

• Entrepreneur: Business Ideas
• SmallTownMarketing.com: How to Find New Business Ideas

Resources

• U.S. Department of Labor: Bureau of Labor Statistics
• U.S. Census Bureau: New on the Site