A great way to come up with business ideas is to identify a need in the market. For example, Facebook was created by Mark Zuckerberg. His eureka moment came as he thought about how difficult it was to come up with cash. He then came up with the idea of a vending machine that gave out cash. His invention soon became a billion-dollar success. So, how do you come up with your own business idea?
One of the best ways to come up with a good business idea is to observe the world around you. For example, you might notice that your town is surrounded by acres of wild blueberries that feed mostly bears and birds. While you might think that this would be a fun hobby for your daughter, the commercial hula hoop she used to use was flimsy and could not sustain the same level of enjoyment. Keeping this in mind, you may want to brainstorm with others and see if they have any suggestions for your product.
Another way to come up with a good business idea is to research the different industries in which you have expertise. You may want to start a business in a software or landscaping company, but it is best to focus on industries where you have expertise. If you’re a trained mechanic, you will likely have more success with this type of business idea than with a flower shop. A flower shop or garage will need a mechanic, but a florist will need both of these skills to succeed.