New Business Ideas – How to Find That Winning Idea to Start a Business

A good business idea will often be borne out of your experience. Have you observed people experiencing a problem or frustration, and do you have an idea that might eliminate or reduce that problem. The richer your experiences and the more observant you are, the more you are likely to come up with workable business ideas. Take an inventory of your experiences; of all the work you have done, paid or unpaid, and of all the games you have played, did you encounter problems looking for a solution?

Start with your resume and expand it as follows:

· Add all your activities so you have a detailed resume. Don’t limit this to work. Include games, chores, and any other activity that engages you.

· For each job or activity state what you accomplished. Remember this is not for an interview; it’s just for you so be honest.

· State what you like most about the job or activity

· State what irritated you or your coworkers most about the job or activity

· If you interacted with customers write down their frequent complaints

· For every irritation or problem that you list, think of and write down a way that you could eliminate or reduce it

· State the primary purpose of the job or activity and ask yourself if there is a better way to achieve that purpose.

This exercise will get your creative juices flowing and may result in your winning new business idea.

Always allow your brain some down time. You will spend a lot of time thinking about and perfecting your idea for a business, but often the best ideas come to you when you are in a moment of rest or mental inactivity. When you are done working on a problem, the mind continues to work on it in the background, but you must give the mind space and time to do that work, which means taking a break from active mental work.

While I urge giving your mind rest time, if you wake up in the middle of the night with a great idea get up and write it down. When you are out and about always have a means of recording those ideas that run across your mind unbidden. Sometimes you get a great idea in an unlikely place, but after hours of other activities, and distractions you forget about it. Your note pad will keep these potential business ideas from slipping through the cracks.

If you are still not coming up with any ideas don’t give up; keep thinking about it, but most importantly, you must be actively living and observing. Try to broaden your experiences and become more observant. If you have work experience, but no formal training, take some business courses. If the reverse is true and you have business training but no work experience get to work. If you can’t get paid to work, do some volunteering. This is not to suggest that you wait until you complete a course or get a certain number of years in experience before you start your business, but while you work on your idea broadening your experience in these and other ways will be helpful.

The 6 Building Blocks of Business Breakthrough

Here are the six building blocks you can use to transform your business & your life. Please note that while there is always going to be stuff you can (and should) delegate, you cannot escape the fact that YOU are the trailblazer in your business. It’s YOU and ONLY YOU who must take responsibility for keeping an eye on the ‘big picture’ of your business and ensure that these key building blocks are being attended to. Are you ready to step up?

#1 Start thinking like a SuperStar!

Time to start blast through self-doubt, negative self-talk and limiting beliefs and rocket yourself towards a superstar mindset. This is all about celebrating who you are and what you bring to the party. Believe in yourself and your work in the world. And if you know you haven’t quite got there yet, resource yourself with the tools you need to start developing a ‘magic mindset’ that is going to get you where you want to be in life. Next weeks installment focuses on how you can do this, so stay tuned to our blog if you want to take steps towards becoming a leader not only of your business, but of your life too.

#2 Get clear on your VISION

If you lack a clear vision for your business and for your life, how are you supposed to get there? Lack of a clear vision is a key barrier to creating the life you dream of. It is pretty close to impossible to focus your attention and get results when you do not have a clear end in mind.

WARNING! Do not skip this step! Whatever you do, don’t skip ahead and miss this part or you may find yourself heading off in the wrong direction, ending up in a life you do not want! If it feels hard for you, don’t worry we will be giving you some great ideas for how to go about it in a creative and fun way.

#3 Identify your hungry crowd and start reaching out to them with a GREAT marketing strategy

When we started out we tried to be everything to everyone. We had no clear idea who we were trying to sell our (amazing!) services to and therefore no idea of where to reach them. How do you get clients if you don’t know who they are?

This building block is marketing 101. It’s about getting clear on your hungry crowd – that is, all the people out there who desperately need the wonderful product or service you offer – and discovering everything you can about them. You may have heard this referred to before as your ‘target market’ or your ‘niche’.

This step seems simple but can be quite challenging. You may find yourself feeling resistant, perhaps not wanting to limit your options. But please believe us when we say that until you address this, you are on the road to nowhere when it comes to getting clients. In this blog series, we are going to lay out the basics and get you on your way to online and offline marketing success.

#4 Build great relationships that last

At LYSB we believe life is all about the quality of our relationships and of course, we apply this to our business relationships as well. We believe that when you spend time building healthy and genuine relationships in your life and work, you can’t go wrong. Unfortunately this is a part of business planning that many people overlook, even though it can have serious consequences for our business (let alone our health & happiness!).

We all know the hardships and negative energy that result from unhealthy relationships or unresolved conflict. In this environment it is difficult to get the most out of yourself and the people you work with so it should be a crucial part of your business planning. We encourage you, no, we implore you to stop avoiding this issue. Start planning for the set up of a healthly workplace culture and fantastic business relationships. You won’t regret it.

Not sure how? Sign up to this blog series and receive some of our free resources on this topic!

#5 Gather up the resources you need, create an action plan and hold yourself accountable to it.

Everyone has gaps in their knowledge, skills or experience. To succeed we need to identify those gaps and seek out the resources we need to address them. From there, we can create a clear action plan and get started.

In our experience most people already have their eye on the ball when it comes to action plans. People LOVE action planning and putting big fat ticks next to their checklist! It feels great to get to the doing part right? Wrong! The problem is that many business owners skip the building blocks above and head straight action planning. But what point is an action plan if it is taking you in the wrong direction???

If your action plan is grounded in your vision and big picture strategy then yes, it will lead you to success. If not, it is a waste of time! Mull this over for a bit…..when we get to this part of the series we’ll elaborate on the ‘how to’ of action planning and show you how to set yourself up for success by putting systems in place to hold yourself accountable to your goals.

#6 Keep your eye on the big picture

As we said earlier, YOU are the trailblazer in your business. It is your responsibility to hold the vision for your organisation and to inspire others with it. You must also keep your eye on other important aspects of your business strategy, like trends and developments in your sector, advances in technology, changes going on for your customer base, what competitors (or as we prefer to call them, potential collaborators!) are doing etc. etc. This all helps you keep on top of your game.

That’s our 6 building blocks. What’s up next?

If you combine these 6 key building blocks with your purpose and passions in life you are going to find yourself on a pretty amazing journey.

Enhance the People’s Awareness About Your Business

Acquiring publicity for you as a business owner and your business as well is not as difficult as it may seem. With the development of the World Wide Web, people are now in control of the information and things to be shared or given out. This is also a great tool for you to promote your products and services and for your business to gain exposure. This is the best way to be known to the world and gain profit.

There are various ways in which you can advertise your business. They can help in making your business to have the attention and attraction it needs so that you can acquire an increased number of customers and clients. In this case also, you can say that you are the publicist of your own business. And the best part is that you can already start building your business’ name, credibility and reputation. Listed are some of the methods that you can use:

• Press Release

One good way to acquire publicity for business is by sending a press release. Advertising can control the message, whereas press release does not, therefore, press release creates credibility. In this case, a well-written PR can spectacularly boost your sales; can enhance the name and image of your products and business; and expose your firm to the world.

• Seminars and Demonstrations

You can also hold free public seminars or demonstrations in order to generate publicity for business. Remember that there are lots of individuals out there that might be looking for the things you are offering. Having the appropriate devices and skills, then this can be a great way of having your business become the talk of the town.

• Newspapers and Magazines

Have a magazine or newspaper feature your business is also a great technique of promoting your business. Since a lot of people read the newspapers and subscribe to magazines, you are assured that your business will be known quickly. Take note that you should start with the local papers and soon you can grow and expand your promotions.

• The Internet

The most convenient and effective way of attaining publicity for business is with the aid of the internet. You can write blogs about your business. You can also use social networking sites like Facebook and Twitter to campaign for your business.

It is always a better to make certain that the methods you are using or those that are recommended by a professional are effective. This is the challenge for you to achieve the exposure and publicity that your business needs. Plan every detail of your business promotion strategy to make it successful. If you can’t do it on your own, consulting an expert is not bad at all. You can use every extra hand there is so that your work will be a lot easier and can be done faster. Explore the ways you can always do to improve and enhance your business proposal.