Is your business idea a cross-cut to success?

How to find business ideas and 3 easy examples starting from a side job

How to come up with a business idea? Explain the essential points in the mindset and behavior of an entrepreneur

When starting a business, it is important to have a business idea that is the foundation of the business. Based on an idea, we will expand our horizons and make concrete profits.

Business ideas are very important to entrepreneurs, but they are not easy to find or create. I will cover how to create a good business idea, how to think when creating it and what it takes to create it. figure it out. Right from the idea-finding stage, its important to have an entrepreneurs way of thinking and acting.

1. Need a business idea

The necessity of business ideas lies in distinguishing them from existing offerings.
Even if you do the same thing as an existing service to start a business now, you cant beat the competition.
You may feel that you have no chance of beating your earlier market rivals in terms of experience and track record, but its important to compete with ideas. The business idea will be required to make a difference, such as
convenience, value, speed, fun and original goodness compared to existing offerings.

2. The business idea is the backbone of the business plan

The business idea at the stage of starting a business or starting a company will support the company that is the backbone of the business, the foundation of all future business activities.
Without a basic business idea, a business can go astray.

Also, once you have a business idea, entrepreneurs shouldnt just come up with it.
Incorporate ideas into business plans and make them more concrete. On that basis, we will build a monetization mechanism and start the business.

3. Need to recruit loan collaborators

Business ideas are also important for creating a startup business.
Anyone should be cautious about lending, investing, or partnering with an entrepreneur with no track record. I dont know what to look for to gauge the future potential of an entrepreneur or the growth potential of a business.
However, if you have a business idea and a business plan based on it, it can be one of the judgmental factors when making a loan or investment.

The content and quality of ideas and plans are important, but the originality and objectivity of ideas and plans also move the hearts of supporters and collaborators.
When applying for a loan at a financial institution, it is always necessary to have a business plan and a start-up plan, and to convince the person in charge, it is important that the business content incorporates the idea.

Where do business ideas come from?

Some people may find the barrier to be very high when it comes to generating a business idea.
Given that you have to come up with groundbreaking ideas from scratch, thats certainly hard, and seemingly impossible, of a normal idea.

However, to generate business ideas, it is not necessary to have unique and eccentric ideas.
It is often born out of everyday things that happen to me and things that I am constantly exposed to.

1. Think about your worries and dissatisfactions

Focus on the current worries, dissatisfactions, and inconveniences that give rise to the business idea.
If you have an idea that can address your worries and dissatisfactions, that idea can help others feel the same way.

Find problems with systems and services that you find difficult to use every day, and find causes and improvements from a management perspective.
If you think about the type of service you will provide and what you need to be able to do it, you can come up with a concrete picture.

2. Pursue What You Like

To generate a business idea, it is a good way not only to deal with worries and discontent, but also to aim for goals you love.
In particular, the more you narrow down your target to niche products and services, the more accurately you can pinpoint your interests and concerns.

If you start a business based on what you like and what you care about, it will be easier for you to enjoy and move on, and the road to success will not be difficult.
Collecting marketing intelligence and making a business plan will be fun.

3. Mimic the idea of ​​an existing service

You might think that creating a business idea requires creating a new idea from scratch.
However, one method is to mimic existing services and create new ones.
You cant beat your competitors just by copying the idea of ​​an existing service.

You should also review existing services, eliminate unnecessary processes, or deploy in different markets.
Existing services can also be catalysts for business ideas, not only considering imitation but also solving existing problems and leveraging them.

4. Combine what you have

It is also useful to combine existing service and business models with ways of generating business ideas using existing services.
Its hard to think from scratch, but it can be less difficult if you consider the mix of existing services.
If you just combine them, you dont need a genius inspiration.

As mentioned above, look at current service dissatisfaction and consider the combinations that make up your shortfalls and the combinations that create your value.
Combining completely different services can create new and more convenient business models.

The business model that might be right for you 

When entrepreneurs consider a business idea, it is important to know the direction in which it is easy to start and develop it in the future.
You need money, space, people, etc. to make your idea come to life, but you cant have that many resources at launch.
Therefore, I want to choose a direction that can start with a small amount of capital, a small capital and the prospect of gradually expanding.

1. Production

It can be said that a business related to production is a field that can be started on a small scale and can be expanded.
There are also services that can be exchanged on the Internet, such as creating apps and websites and designing icons, which ease the initial hurdle.

You can easily start a business as a side business, and you can also open a home business. We also have a complete platform to connect with contractors.
You can aim to become a corporation once you have accumulated achievements, built a system that can provide continuous service and established stable relationships with customers.

2. Specialized ship shop (selling via mobile phone)

If you want to start a restaurant-related business, you can easily start a specialized shipping or mobile store business that doesnt require a big store.
Specialized shipping doors that can be started in small shops and mobile sales that can be done anywhere can be opened at a low initial cost.
In addition, there is no need to limit the number of customers, can respond flexibly according to the number of store visits, can provide fast service without manpower.

However, in restaurants, a business license is required. Unlike in-store dining, costs can add up when considering purchasing disposable containers.
Since the content that can be offered is limited, a balance must be weighed against the desired menu.

3. Consulting

Consulting work can be started without inventory, and the number of outlets and equipment is minimal.
In addition to consulting to clarify and advise on business management issues, we also advise in different fields. If you can predict.
If you need information and advice based on your area of ​​expertise and past accomplishments, you may want to consider starting a consulting business.

4. Sharing Service

Shared services are one of the services that have been on the rise in recent years.
Many sharing services have appeared so far, but it is not too late to become a new service. Lets come up with ideas with flexible ideas
such as making your own inconvenience convenient and introducing the current service of sharing.

See more How to start different types of online businesses, advantages and disadvantages 

Examples of businesses that make it easy to achieve goals independent of side businesses

Some people who want to start a business may want to gradually become independent from their side business.
Introduce a business that can start small and grow gradually, rather than starting an independent business from the very beginning.
It is a genre with many examples and success stories, and it is safe because of its low cost and risk.

1. Buy back old stuff

A business buys products at low prices and sells them at high prices. We will make a profit with the basic mechanism of the product sales business, where the difference between buying and selling products is profitable.
Buy and sell your favorite products, so you can get started without knowing the complicated structure of your business.
It can also be useful for learning the basics of sales and for your experience in starting a large-scale product sales business in the future.

However, there is a risk of not selling because of the inventory system.
It is important to understand the risk and get the business sense by repeating buying and selling while considering the amount of capital.

2. Dropshipping

Dropship is an agency business that sells products. Create an online store to sell your products and sell them, but you dont need to have inventory.
When the item is sold, the supplier in stock will ship the item to you.

You need to build an online store and sign up with a professional vendor first, but it doesnt take up much space and has no upfront costs.
It is suitable for people who want to sell products from a side business without the risk of inventory.

3. Consulting consultant

Consulting is also an industry where you can gradually increase your client base and grow while building your track record as a consultant by initially doing it as a side business.
Since you can compete with only your own experience and knowledge, there are no up-front or operating costs, and even those with little capital can easily get started.

When starting a business, lets aim to reasonably attract customers through sales activities that leverage previous business and work connections.

Actions you want to take to shape your idea

When you have a business idea. Need to bring those ideas to life
A great idea can end up being just an idea if its not tied to revenue. Realize your business from an objective point of view.

1. Market Research

Market research collects information such as understanding the current situation, uncovers the facts and reasons that lead to consumer behavior, and analyzes it to see how it can be used in business.
Even at the brainstorming and ideation stage, if you analyze the market and find a problem, you can connect to new services as a solution.

2. Create a business plan

Once you have gathered your ideas and objective information, create a business plan and visualize your business ideas.
You can use it to apply for future loans, but creating a plan will give you a more objective view of your idea, and will also highlight points to keep in mind when it comes to your ideas. commercialize them.

3. An objective view of the idea

It is also important to have an objective view of whether the business idea can be pursued as it is or if there are any changes that need to be made.
If you look at the market and the competition, you can also see the shortcomings of the ideas you come up with and the goodness of the competition.
Also, if a new idea never materializes, its important to consider why.

4. Speak up the value of the service

It is important to apply it to the framework and verbalize the value of the service.
Use ready-made frameworks to highlight your businesss appeals and shortcomings, market and competitor comparisons, and challenges.
This allows you to visualize how your business should be conducted and issues and act appropriately.

5. Consider the price

To monetize your business, you also need to consider pricing.
Pricing is dictated by data from a broad perspective, such as purchase costs and industry-specific profit margin guidelines, rather than deciding on your own preferences.
Be aware of costs and find the right price while balancing how much youre willing to buy.

6. TRY – WRONG – CORRECT

Even if you have a good business idea, that doesnt mean you will be successful in the first place.
On the road to success, its important to create better products by repeating TRY - WRONG - CORRECTION, try again and again and verify.
If that doesnt work, dont quit immediately and consider the right direction.

See also: What is a Marketing Strategy? 5 steps to form an effective marketing strategy

Key points for developing a business idea

Keep the following points in mind to develop your business idea. It is important to aim for smoother development while considering minimizing risk, labor and waste.

1. Start with a small market

To start a business from scratch and be successful, it is important to start small, not suddenly launch into a large market.
First of all, make it a priority to have enough market share in a small market and raise your profile.
Only after businesses and companies have developed enough, their names and reputations have increased, can they compete in a large market with many large, resource-rich companies.

2. Focus on niche market

Focusing on niche areas is one way to succeed in your business.
Naturally, the market size will become smaller, and it will be easier to focus limited resources on a precise point even when starting a business with few resources.

3. Market research and hypothesis testing

Obviously, time is finite for entrepreneurs. If you can get results without doing it yourself, such as market research and hypothesis testing, outsource effectively.
If you ask a supplier that has the know-how and the database, you can get high-quality information.

Summary

To generate business ideas, it is important to verify existing ideas and add ingenuity.
Anyone can create a new business with steady efforts like market research and improvement of existing businesses.

One way is to look inside yourself, such as what you like and what you have problems with. Lets change the direction of thinking a bit and generate unique ideas.
In addition, once an idea is born, specific actions to start a business are indispensable.