Tips on finding new business ideas (part 2)
Here are some more ideas on what to look out for when coming up with new business ideas.
Who's in the wrong location?
You can have a really great business, however if it's based in the wrong location it might fail. People sometimes start really good businesses in terrible locations.
I've had this experience first hand trying to run a recording studio in the middle of nowhere.
could you move a struggling business to a new location and help make it successful?
Who hasn't updated their stock in a long time?
A business that hasn't moved with the times could be vulnerable if you opened an up to date rival.
If your running an online business make sure that your business looks modern and up to date with todays modern trends.
Who has problems?
Where theres a problem there is usually a solution and therefore an opportunity.
If you hear someone (or even better lots of people) talking about the same problem ask yourself the question, is there a business that could solve this problem?