The key to coming up with business ideas for a new product or service is to identify a market need that's not being met. For example, back in 2004 a Harvard University psychology student named Mark Zuckerberg recognized a need for a campus-wide social-networking website that would allow students and staff to share personal profiles and other information. He went on to develop Facebook and became one of the youngest billionaires in the world.

3) Invent a new product or service

Do you have a talent or proven track record that could become the basis of a profitable business?The other day I spoke to a man who had spent years managing cleaning services at a hospital. Today he runs his own successful domestic and business cleaning service. And the examples of professionals who have started their own agencies or consulting service businesses are legion.To find a viable business idea, ask yourself, "What marketable skills and experience do I have? Will people be willing to pay for my products or services?"

1) Examine your own skill set for business ideas

If you watch the news regularly with the conscious intent of coming up with a business idea, you'll be amazed at how many business opportunities your brain generates. Keeping up with current events will help you identify market trends, new fads, industry news - and sometimes just new ideas that have business possibilities.

2) Keep up with current events and be ready to take advantage

The difference between raw wood and finished lumber is a good example of putting a product through an additional process which increases its value, but additional processes are not the only way value can be added. You might also add services, or combine the product with other products. For instance, a local farm which sells produce also offers a vegetable delivery service; for a fee, consumers can have a box of fresh vegetables delivered to their door each week.Focus on what products you might buy and what you might do to them or with them to create a profitable business.

4) Add value to an existing product

Some business ideas aren't suited to local consumption - but appeal greatly to a foreign market. My own little town is surrounded by acres of wild blueberries. For years the bushes produced berries that mainly fed bears and birds; B.C. has a thriving blueberry industry that doesn't leave room for a wild blueberry market.Finding out about other cultures and investigating other market opportunities is an excellent way to find business ideas.

5) Investigate other markets

Good Business Ideas Are All Around You.Wondering how to come up with a business idea? Well, business ideas are all around you. Some come from a careful analysis of market trends and consumer needs; others come from serendipity. If you are interested in starting a business, but don't know what product or service you might sell, exploring these ways of coming up with a business idea will help you choose.

Ways of Becoming a Business Machine:-

Write your ideas down. Let them swirl around in your head and coalesce. And keep an open mind and continue to assess everything you read and hear from an entrepreneurial point of view.You don't want to run with the first business idea you think of; you want to discover the idea that's best suited to your skills and desires. Dream, think, plan - and you'll be ready to transform that business idea into the business you've always wanted.

Tips for Coming Up With a Business Idea

You know what they say about the person who builds a better mousetrap. That person could be you! A local entrepreneur has created an improved version of the hula hoop; it's bigger and heavier so hula-hoopers can control it more easily and do more tricks. How did she come up with this idea? She thought hula hooping would be a fun thing to do with her daughter, but found the commercially available product too flimsy.Start generating business ideas by looking at the products and services.

6) Improve an existing product or service

How to use Bible-based leadership principles to improve business performance In How to Run Your Business by THE BOOK, famed leadership guru Dave Anderson reveals biblical lessons to help transform the people, culture, and results of your business. Not only will you master timeless business principles based on the world's bestselling book, you'll build a foundation for your business that leads to long-term success. This is a refreshing return to commonsense business basics, based on leadership lessons peppered throughout the Good Book. In these turbulent times, quality leadership is the key to surviving and thriving in the business world. You'll learn what the Bible has to say about hiring and training people, managing money, creating a leadership vision, balancing work and life, and achieving your most ambitious business goals. Includes practical, proven business guidance gleaned from the Bible Features smart business guidance like the Ten Commandments for elevating your people skills Shows you four vital steps for creating a tough-love culture of accountability Dave Anderson is also the author of Up Your Business!, If You Don't Make Waves, You'll Drown and How to Deal with Difficult Customers Best of all, you don't need to be familiar with the Bible to profit from these wise and timeless principles. All you need is a heart open to biblical wisdom and a willingness to lead with courage.

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How to use Bible-based leadership principles to improve business performance In How to Run Your Business by THE BOOK, famed leadership guru Dave Anderson reveals biblical lessons to help transform the people, culture, and results of your business. Not only will you master timeless business principles based on the world's bestselling book, you'll build a foundation for your business that leads to long-term success. This is a refreshing return to commonsense business basics, based on leadership lessons peppered throughout the Good Book. In these turbulent times, quality leadership is the key to surviving and thriving in the business world. You'll learn what the Bible has to say about hiring and training people, managing money, creating a leadership vision, balancing work and life, and achieving your most ambitious business goals. <ul> <li>Includes practical, proven business guidance gleaned from the Bible</li> <li>Features smart business guidance like the Ten Commandments for elevating your people skills</li> <li>Shows you four vital steps for creating a tough-love culture of accountability</li> <li>Dave Anderson is also the author of Up Your Business!, If You Don't Make Waves, You'll Drown and How to Deal with Difficult Customers</li> </ul> Best of all, you don't need to be familiar with the Bible to profit from these wise and timeless principles. All you need is a heart open to biblical wisdom and a willingness to lead with courage.