10 Great Places to Find a New Business Idea
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| Credit: Brian A Jackson/Shutterstock |
All successful entrepreneurial ventures have one thing in common:
They solve a specific problem. Whether they fill a gap in the market or
improve upon what's already out there, good business ideas demonstrate
what the issue is and why they have the unique ability to address it.
If you've been racking your brain for a way to start your own business
but keep coming up short, you might just need a change of scenery. You
never know where inspiration will strike, so get up and explore these 10
places to find solvable problems — and, therefore, great business
ideas.
Think you've found your perfect startup? Do some research to make sure the idea is legal and feasible, and then visit our step-by-step guide to starting a business.
Your smartphone
In the "there's an app for that" era, it may seem like every mobile
application under the sun has already been thought up and built. But
that's not necessarily the case, as many people discover when they scour
their smartphone's app store searching for something that doesn't
exist. Perhaps an app you recently downloaded doesn't function the way
you'd hoped it would, or doesn't offer a certain feature you wanted. To
find out if there's interest in the newer, better app you want to
create, ask friends, family and others in your network. Once you've done
your due diligence, you can use a DIY app maker or, if you have very little tech experience, hire freelancers to build it for you.
Search engines
If you've ever done an exhaustive Internet search for a specific item
that returned no results, you have three options: settle for something
close enough, give up entirely or do it yourself. If you're the kind of
person who chooses the DIY method (and can do it well), you have the
opportunity to turn a frustration into a lucrative business. Check
forums to see if others are searching for the same product(s), and then
open up an online shop to sell them. This can also work well for
specialized service-based businesses.
Social media
If there's one thing people like to do on social media, it's air their
grievances about everyday life. Most of the time, these types of updates
are mundane (and probably a little annoying), but if you pay close
enough attention to those hashtags and status updates, you might start
to see some patterns emerging. Look for phrases like, "Why isn't there a
... " or, "I wish there was a ..." — you may be able to offer a
solution.
Online reviews
As with social media, people love to talk about the products they've
purchased and places they've visited on sites like Amazon, Google and
Yelp. Most consumers will read and use negative reviews to determine if
they should avoid the product or establishment, and that company's loss
could be your gain. See what people are complaining about, and try to
come up with a business idea that would fix the problem.
Your home
Look around your house or apartment. What are some of the frustrations
you encounter there? Dusty air vents? A messy bathroom? Unraked leaves
on your lawn? If you're noticing these things in your own home, there's a
good chance other people are experiencing the same problems. By
launching an in-home service business, you can help others take care of
these time-consuming household tasks.
Your neighborhood
The people who live near you can be a great inspiration for business
ideas. Think about the demographics of your neighborhood or local
community. If your town has a lot of working parents, a service that
offers to run errands or provides child care might be in high demand. A
neighborhood with a lot of senior citizens could use independent home
health aides. Are there a lot of dog owners nearby? Try a pet-care
business like pet sitting or dog walking.
Your office
If you want to start a part-time business outside
your current job, ask your co-workers what kinds of products or
services they're missing in their lives. Maybe someone else with a side
business is looking for a bookkeeper or financial adviser. Others might
be looking to enroll their children in affordable art or music classes.
Small talk in the break room is bound to lead to at least a few viable
ideas.
The grocery store
Are you a food lover? Seeing what's missing from the shelves at the
grocery store or farmers market could help you come up with a
made-to-order culinary business idea. Jams, baked goods and specialty
diet items (gluten free, vegan, etc.) are especially good choices for an
artisanal food startup. Alternatively, you could test your gastronomic
skills with ingredients from the supermarket and open up a restaurant or
food truck.
The mall
While you might not actually open up a brick-and-mortar retail
location, perusing your local mall might give you some ideas for a
business of your own. You could launch a line of homemade natural
cosmetics to rival the pushy salespeople from that kiosk, a clothing line to
produce something different from the same old items in every apparel
store window or an online craft shop to offer personalized alternatives
to generic card-store knickknacks.
Your child's school or day care
If you're a parent, you know that any product or service that will help
your child is worth the money. Think about the gaps you see in the
market, and next time you pick up the kids from school, ask other
parents if they feel the same way. Not a parent? Ask family members or
friends with children what kinds of things they want (or want improved)
but can't currently find for their kids.
