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Business Ideas

Business Ideas. Where Do Great Ideas Come From?. Personal experiences -- hobbies, interests Work-related experiences People you know: friends, family, teachers, coaches, etc. The Internet Research . As You Think About Your Idea Consider These Questions:.

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Business Ideas

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  1. Business Ideas

  2. Where Do Great Ideas Come From? • Personal experiences -- hobbies, interests • Work-related experiences • People you know: friends, family, teachers, coaches, etc. • The Internet • Research

  3. As You Think About Your Idea Consider These Questions: • What do I like to do with my time? • What skills have I learned or developed? • What do others say I am good at? • Do I have any hobbies or interests that are “marketable”?

  4. But, I don’t want to own my a business! • Some of you might want to be an artist, musician, actor, photographer, dancer, athlete, etc. • All of them are entrepreneurs. • You must be able to promote yourself, market your talents and skills to get that contract. • Too many “artists” have to take a 9 to 5 job to pay their bills, and do “art” on their free time. • Make your “art” your 9 to 5 job, and have fun on your free time.

  5. Having an Entrepreneurial Mindset • Start thinking about your life and career like an entrepreneur. • Don’t wait around for opportunities to come to you, go out and grab them! • It doesn’t matter what you want to become.

  6. Identify “The Niche” Your Business Will Fill • What is a “Niche”? • Think about a niche as a group of people with the same wants or with the same problem. • Your business might be able to supply what that niche wants. • Your business might be able to solve that niche’s problem. • If so, you have a much better chance of creating a successful business.

  7. Identify “The Niche” Your Business Will Fill • Conduct the necessary research to answer these questions: • Is my idea practical, and will it fill a need? • What is my competition? • What is my business advantage over existing firms? • Can I deliver a better quality service? • Can I create a demand for my business?

  8. Your Pre-business Check List • The final step before developing your plan is the pre-business checklist. You should answer these questions: • What services or products will I sell? Where will I be located? • What skills and experience do I bring to the business? • What will I name my business? • What equipment or supplies will I need? • How much money, if any, will it cost to start my business? Will I need financing? • What are my resources? • How will I compensate myself?

  9. Your Pre-business Check List • Your answers will help you create a focused, well-researched business plan that will serve as a blueprint. • The plan will detail how the business will be operated, managed and financed.

  10. To Help You Generate Creative Ideas Visit These Web Sites: • National Collegiate Inventors & Innovators Alliance - nciia.org • Junior Achievement – www.ja.org

  11. After You Have Developed Your Idea, Here Are Web Sites To Keep Your Business Moving Along: • JA Titan – test your skills in running a business in this ultimate business simulation – http://titan.ja.org • Entrepreneurship Education - http://eweb.slu.edu/youth_entrepreneurship.htm • Entrepreneur.com - http://www.entrepreneur.com/tsu/archivesba/0,6835,298716,00.html • National Collegiate Inventors and Innovators Alliance – http://www.innovationtools.com

  12. The End

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