Work Ready
IN THIS LESSON
Starting a business can be daunting, but in this course you’ll learn how to unpack your ideas...
…to kick start your business.
Learn how to get started with your business
Starting a business can be daunting, but in this course you’ll learn how to unpack your ideas to kick start your business.
Skills You Will Learn
Business Idea generation
Turning an idea into a business
How to Come Up with a Business Idea
Close the Gap
Businesses have started to close the gap in services and products that are already on offer. Think about what you like and what you’re good at and how you can turn that into a business.
Try to Solve a Problem
What are some of the common problems and challenges people experience?
Let’s suppose that you often hear people complaining about the price of store bought bread. You remember you can bake really well. Do you think you could offer a competitive alternative that is cheaper? Someone who is good at noticing gaps in the market is said to have “entrepreneurial spirit.” This is precisely the spirit you should aim for.
Look at life through this angle: What’s missing? What are people always asking for that they can never find? How can I fulfill this need?
Note Your Idea
Keep a notebook and write down other thoughts you have around your idea. If you want to open a salon, you can think about the kind of hairstyles you will provide, your location, and so on.
The Big Idea:
A good entrepreneur is someone who keeps their eyes and ears open and is able to go, “Aha, I see possibility there,” or “Ha, this is missing,” or “Hey, people are always wishing that they could have xyz,” and then filling that gap.
Having business ideas is about having a sharp eye on your environment around you, looking for gaps where there is a need or a problem, and then coming up with a strategy to fill that need.
Say you notice that all the shop signs around your place are kind of messy and not well done, and you could do them better – that could be a business idea.
Maybe you’re really good at makeup and hair – so where is makeup and hair a big deal? Weddings! You could possibly make good money there.
There are always ways to improve peoples’ day-to-day lives, if you think smart and have ingenuity – so what are you waiting for? You’re one step away from spotting that gap in the market that only you can fill – so get brainstorming!
TIP: USE THE INTERNET
You need to know as much as possible about the kind of business you want and what it takes to run a successful business. Go to google.com and search for topics that are related to your idea like “the best salons in the world,” “how to take care of hair,” etc. This will help you to discover what people are saying about the kind of service you want to offer. It will help you to identify gaps in the market.
TIP: SOCIAL MEDIA AND GREAT IDEAS
Let’s say you want to start making clothes. Social networks like Pinterest and Instagram are a great way to find inspiration. Follow similar services as yours online; they may do things such as videos that increase the reach of their service. Follow social media for ideas.