How to Generate Small Business Ideas

by Danielle Bloom

0 min read

Innovative concepts drive today’s digital economy. For this reason, generating ideas should figure into the process of planning your new small business. Follow these steps to create small business ideas to better position yourself for success:

  • Change your surroundings. Head to the park or the art museum, or go for a long hike to open your mind to new concepts.

  • Look for opportunities to fill niches. You can fill a niche by offering a twist on popular product or service.

  • Fix a problem that bothers you. For example, some entrepreneurs have addressed the issue of expensive college textbooks by launching textbook rental services.

  • Hang out with shoppers in stores and online. Socializing with shoppers helps you gauge which products and services they can’t find in the marketplace.

References & Resources

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