Here are some idea generators for possible small business ideas.
1. Take inventory of what you bring to the table. What are your strengths, weaknesses, passions, skill sets, likes and dislikes? This is a great place to start to help you identify a possible business.
2. Take a look at where you currently work. Are there opportunities that your current company is overlooking? Is there a market that they should be reaching out to but are not? Are they outsourcing to vendors with your skill sets. Perhaps you can become one of their vendors. This is often times a great place to start in order to begin working outside the office while generating some extra revenue.
3. Take a look at franchise possibilities. There are plenty of websites and magazines that promote various franchising opportunities. Make sure to do your homework though before diving in. Be sure to take a look at the negatives of each business as well as the positives.
4. Research trends and popular ideas with search engine data, magazines, reality and “how to” television.
5. Buy an existing company. These can be found through classified ads, trust lawyers, accountants, corporate loan officers, and business brokers.
6. Follow through on business ideas that you have put on the ”mental shelf.” We all have ideas that we mentally file away for a later date. Have you told any of your friends some of your business ideas that you have put on the shelf? Well, now is the time to act.
These are just a few tips to help you get your idea generator working for you. Be sure to jot them down on a legal pad and take good notes as you explore all of your options.