Small Business Ideas

BusinessSales / Service

  • Author Anne Brown
  • Published October 23, 2009
  • Word count 541

Sometimes having an urge or ambition simply isn’t enough. Sometimes, the most important element of entrepreneurialism can be the small business ideas that fuel the passion and drive that are so critical to success.

This article will not explore the process of buying or selling a business. Instead, the focus shall be on the truly nascent, granular level – the "idea".

Starting a business or buying a business often requires some soul searching to find out truly what it is you are looking for but it also requires a business idea. This ‘a-ha’ moment where a budding entrepreneur finally discovers exactly what they are looking for is an often underestimated part of the process.

Small business ideas – where to look for inspiration

The Internet

There are many web sites focused on the sole topic of small business ideas. A simple search of that phrase will yield thousands of relevant small business ideas - websites to help you.

What are your hobbies?

Perhaps you are an art enthusiast. If so, would a gallery or similar business be of interest to you? If you are an avid golfer, perhaps a golf retail business or something similar might make sense? You get the idea.

Ask your friends and family what they think

Sometimes you would be surprised at the feedback you get on yourself from others close to you. Many times a spouse knows exactly what his or her significant other would be interested in. For example, perhaps a friend or two thinks you would be a great sales person but you never thought about something like that previously. Different perspectives can open up many different thought processes for you.

If you had all the money in the world… what would you do?

This is a simple but effective question. Oftentimes, using your imagination to picture a scenario where you are truly financially free can start the creative process flowing.

Ask others where they look for small business ideas

It seems silly but there are more people than you might think that are looking for good business ideas. Entrepreneurial freedom is a dream shared by many people. If you ask three or four friends if they ever though about starting or buying a business, the chances are good that at least one will say yes. Ask them where they get their ideas and inspiration from. Sometimes two heads are better than one.

Visit a bookstore

Browse the business and entrepreneurialism section to see if there are any good books on business ideas. The other idea to consider is reading business biographies of people you admire. You can learn a lot about reading about people’s lives and following the paths that they took.

Talk to a successful entrepreneur

There are a group of successful people who have an almost uncanny ability to spot good business opportunities where most other people can not. Do you know one of these types of people? If you do, invite them for a coffee to see if you can learn where they have come up with their small business ideas.

Figuring out the right business to buy or to start can be a major challenge. Be thorough and don’t underestimate how important this part of the process is.

Ontario Business Brokers

Where to get the best small business ideas? Buying a Small Business for sale in Toronto, Hamilton and surrounding areas in southern Ontario, Canada. We are a full service business brokerage here to help you buy or sell a business.

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