Creating a list of viable business ideas is the simplest, most effective way to find the right home based business for you. To create a good list, engage in the following three step brainstorming exercise.
Brainstorm a List
Ponder the following questions, and create a list of the answers.
- What were your favorite subjects in school?
- What jobs have you had? Don’t just list employers, list the specific positions you held and jobs you did.
- What skills have you acquired in your life? List even those you didn’t use much.
- What are your hobbies?
- What interests you?
- What are you passionate about?
- Are there any things you wanted to be or do in your life, but didn’t?
Spend some time on this, and don’t limit it to one session. If you do, you’ll run the risk of leaving something off - maybe that one something that could turn out to be IT.
A good idea is to get a notebook you can carry with you for a few days or a week. As items come to mind, and they will, you can write them down. Believe me, if you don’t write an idea down as soon as it comes to you, you’ll forget it. So carry a notebook.
When you add an item to the list, leave several lines below that item blank. You’ll use this space in the qualification step.
Don’t evaluate your answers. In fact, don’t spend any time thinking about them at all once you've written them down. Right now you’re just brainstorming a list. Evaluation is the last step.
When the flow of ideas slows to a trickle or stops, you can start to qualify your list. If additional ideas come to mind as you’re qualifying your list, go ahead and add them. It’s never too late for a good idea. And at this point, all ideas are good.
Qualify the List
To qualify your list, simply ask yourself the following questions about each item listed. Write your answers and observations in the space below each item listed in your notebook.
- Is there a product or service relating to the skill you have in this area that people might be willing to pay for? If so, list them.
- Are there any unique benefits relating to the skill you have in this area that you could deliver? If so, list them.
- What would people who are interested in this particular area want from a product or service you might provide? In other words, what problems might you be able to solve for them?
At this point you should have a nice list of viable business ideas to choose from. Now it’s time to select the best idea.
Evaluate the List
The final step is to evaluate the items on your business ideas list and select the best ones based on what you learned during the qualification process. Highlight the items that have potential.
Then carefully review and evaluate each highlighted item in terms of the following question:
- Is there a market for the products or services you could provide in this area?
Don’t concern yourself with how large or small the market might seem to be. If you think there’s a market, keep that item on the list. If not, discard it.
The best business idea will be the one you’re most passionate about. If you’re passionate about a particular business, that passion will show through not only in the quality and value of your products or services, but all your business activities.
There’s no better road to success than the one paved with passion. Will passion guarantee smooth success? No, but it will make the bumps much easier to endure.
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