Great business ideas are all around you, just open yourself up to the possibilities, and you will be bound to find a winner. To start your research on that no longer existing idea that will set the world on fire, start with the following resources. Excluded from marketing expert Al Ries, president of Georgia-based Ries & Ries Marketing Strategies, co-author with Laura Ries of 22 Consolidated Branding Laws, Business Trends Monitor Perry Lowe, Marketing Professor at Bentley College in Waltham, Massachusetts, These could be They are the first steps in your search for your dream business
Great business ideas are all around you
- Start with the family.
Exploiting the family for great business ideas may not seem like an obvious first step, sure, you’ll get them money once you develop your idea, but what could your elderly parent or cousin contribute early in the process? Abundance.
Sure enough, Donald Trump wasn’t shy about learning the real estate business from his father, Fred, who ran a thriving real estate development company, says Reese.
Trump had the common sense to get some invaluable training before setting off to become one of the most prominent builders and real estate developers in the country.
“If his father hadn’t provided the foundation and the training [that he needed] to create a profitable business, Trump would not be where he is,” says Rees.
Unfortunately, many people insist on [setting up a business] on their own without any help from their families.
- Get a little help from your friends.
Reese says you restrict yourself severely if you only rely on your own ideas – especially when your creative juices dry up.
“That’s enough reason to listen to the ideas others might have,” he says.
“If you have 15 or 20 friends, two of them probably have some great business ideas.”
Reese points out that were it not for Steve Jobs’ close friend, Steve Wozniak, there would be no Apple computer today, as he says: “Jobs knew nothing about computers.” “Wozniak, on the other hand, was the computer genius who first developed Apple.” Jobs was looking forward to great business ideas and saw marketing potential for developing a new type of computer.
The important lesson is to keep your antenna on at all times so that you can relive the good ideas when you stumble upon them. Reese insists you can earn more money by learning about someone else’s idea than creating an idea on your own.
- Look at all the things that are bothering you.
It may not sound like deep, but Reese says this is fertile ground for great business ideas. He cites how upset Wilson was in the 1950s when a hotelier wanted to charge him an extra price for each of his five kids.
He was so excited that he launched the Holiday Inn in Memphis, Tennessee, and today it is one of the largest hotel chains in the world.
If King C. Gillette wasn’t tired of the tedious process of sharpening a straight razor, he wouldn’t have founded the massive disposable razor industry.
When he took his idea of a portable razor with a blade that could be used multiple times to a research university for help, engineers questioned his mental health.
- Click on your interests.
Thousands of smart people have pursued hobbies and turned them into a successful business, Tim and Nina Zagat, who launched Polls Zagat, a publishing empire that sells restaurant directories to many major American and European cities, are great examples. In the early 1970s, the Zagat family were expensive corporate attorneys whose passion was eating out.
For fun, they create a newsletter asking their friends to rank popular restaurants in several categories. Every year, the newsletter included more restaurants.
Ultimately, it became so costly and time-consuming that the spouses start to take money for it to smooth out their expenses. That was the lean start of the popular Zagat Survey, which is sold in bookstores all over the world. “When you do something you love, it’s never work.”
Traveling opens your eyes to a plethora of potential business ideas.
Reese cites Leopoldo Fernandez Pujals’ discovery of Domino’s Pizza on a trip to the United States from his native Spain.
Bogals was so impressed with the fast food operation that he returned to Spain and launched his own version, called TelePizza, in 1986. His company now has sales of $ 260 million and employs 13,000 people in eight countries.