Wednesday, February 18, 2009

That Eureka moment

At the heart of all successful businesses, big and small, is one great idea.

How do you find that idea? Some people are ideas people, some people are implementing-ideas people. Some people have a dozen ideas and no time to follow them through.

If you want to start your own venture, but you're not sure where to start, here's a few different approaches.

1. Love what you do

If you're going to be good at something, and if you want to commit all your precious kid-free time to it. you need to really love it. So make a list of all the things you enjoy - your hobbies, if you like. It could be anything from shopping to making muesli. Then make a list of all the things you are actually good at. You might want to ask a friend or your partner about this, it help to get another perspective.

They might say something like "you're really great at helping people work out a solution." Have you thought about counselling? Or "you're a good communicator". How about sales, journalism, or marketing consulting?

2. Visualise the future

This is what my dad told me to do when I was 14. Close your eyes, and imagine yourself 10 years from now. Where are you, what are you doing? My brother imagined himself in a red sports car surrounded by gorgeous blondes. He's not quite Sam Mendes as yet, but he is a theatre director.

3. Seek inspiration

You've spied a gap in the market. How to fill it? Start shopping online - check out what's hot in the UK, Europe or the US. Read international magazines, talk to people who've been there. There's a great idea out there that hasn't yet reached our shores. Don't copy it outright - you may decide to become a distributor of a great new product, or you may need to adapt an idea to the local market. But you don't want to get into any legal tussles.

4. Take on someone's else's baby

If you're really stuck for ideas, it may be easier to take something that's already up and running. Buy or franchise an existing business, or - if you're into this kind of thing - test your selling skills with a party plan business. Tupperware, anyone?

Got a great idea? Want to share it? Let us know!

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