This article will help you understand how other successful business people came up with successful and profitable business ideas. To be successful you need to be keen, passionate and able to learn from your mistakes, Richard Branson once said that failing his first business is what made him successful.
Business ideas are all around you, many inventors and business people originally came up with a product, service or idea due to their own need and then later turn this idea into a profitable business. Business Start Up books are also a great way to gain some cheap expert advice.
- The World Wide Web (WWW.) was originally created for scientist studying high energy physics around the world to share information more efficiently.
Many people see “something” is missing or notice how one product or service can be improved, turning this business idea into profit.
- In 1907, while working in a department store as a janitor, James Spangler thought that his carpet sweeper caused his cough. He decided to improve that way he clean carpets and tinker with an old fan motor, broom handle, pillow case and soap box creating the first Hoover which he later patented in 1908.
Other successful business people sell other peoples products and make millions without having to spend money on materials, initially.
- The Amazon affiliate programme made Amazon successful as well as many internet marketers, selling Amazon products on their website and on Google Ad-words.
Life Coaching can help you prepare yourself for self employment and achieving your business goals.
Do what you love to do
As with any job, career and business, you need to do what you love to do! By doing what you love, you will bring passion, creativity, knowledge and persistence to your business. Businesses don’t happen over night, they take time and hard work, if you do not love your business idea you will soon stop working towards it and in many cases this will cost you a lot of money.
One of ways to have a successful business is by creating a business from something you love to do. You can do this by looking at your hobbies. What are you really good at? DIY, creative Christmas card designs? Writing stories? Many successful business people often turn there hobby into a business, Peter Jones started a Tennis Coaching business from his passion of tennis.
Remember you may enjoy your hobby because it is a hobby, would you enjoy your hobby if you had deadlines to meet? Would you still be passionate about your hobby, if you had to work on your hobby everyday?
A good way to start a “Hobby” business is to keep your full time job and work on your business part time, this way you will know if your hobby is losing it’s passion.
Turning the Old into the New
New business ideas are often few and far between. Many businesses take one idea and improve it. Take the mobile phone, first this was a portable way of communicating with others. You can now read e-books, add events to your diary, take photos and videos the list go’s on and on.
A mechanic decided to take the garage to the customer, by using a transit van fitted with all the tools and equipment needed to fix cars and carry out MOT’s
Chefs do this all the time; they take an old recipe and add a new twist. Once they add a new name to the recipe they open doors and wit for the customers.
What idea can you improve? What product or service do you use that can be improved?
Offer a Service
A great way to make a successful business is to offer a service to your customers. More people prefer others to carry out everyday jobs and high profits can be made offering a service. Recently we have seen an increase in Hand Car washes, many started by offering a car wash for around £2-£3 and now many of these businesses have evolved into a valet service charging around £30-£40 a valet.
If your business minded and know you can be successful and know your not type of person to come up with new ideas and new ways to better existing products, you can buy a franchise.
A franchise helps you build your own business with (in many cases) an already established brand. Don’t fall into the trap of “if I buy a franchise I will be successful”, the franchise is still a business that you need to manage and make profitable.
To minimise your risk understand what you will get for your money and like with any other business write a business plan that is realistic and achievable.
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