There is an image that many people have of an entrepreneur as someone who is driven and single-minded about one idea. If you don't have that single-mindedness, you might worry that you aren't cut out to be a business owner. The truth is that being a successful entrepreneur is not about having an idea that you are passionate about. Being passionate can help, but it's far from a guarantee of success. It's more important to put that passion toward entrepreneurship itself. If you are struggling to find a good idea, the tips below may help you.
Go to School
Everyone has read articles about teenagers who start a successful business before they're out of high school or in their first year of college, but the reason you hear about this is because it's so unusual. Most entrepreneurs are considerably older and have a lot of education and experience. A good first step is to get a degree in business or a related field. You may think that you should set aside every dime to put into your company, but a college education usually pays for itself over time in increased earnings. You can apply for Earnest student loans to help cover the costs of your degree. In school, you'll be exposed to a lot of ideas that may inspire you. In fact, in one of your business's classes, you may even have a project that involves designing your own startup.
Talk to People
The same way you research a company before you join as an employee, you need to research the market for your entrepreneurial dreams as well. What problem do people need solved? Talk to friends, colleagues, family members, and even complete strangers about what frustrates them and what services or products they would like to see. Think as well about what kinds of products or services people may not have even imagined yet but that could also solve those problems that people mention to you. Prior to the arrival of smartphones on the scene, people weren't clamoring for the product because there was little conception of such a device. In addition, an infrastructure has sprung up around the popularity of smartphones meaning that what was a luxury just 15 years ago is now virtually a necessity.
See What Others Are Doing
Read about other entrepreneurs for inspiration. Look at what other companies are doing, and examine the strengths and weaknesses of what they have to offer. What are they doing that you could do better or for less money? Look at current trends and then imagine and forecast where those trends will be in five or 10 years and what kinds of tools will be needed.
Your Interests and Knowledge
Of course, you can always look to the things that you are interested in. What are your hobbies? What things annoy you about a hobby that you pursue, and what tools could help mitigate that annoyance? Think as well about what you have an aptitude for although don't sell yourself short. It can be all too easy to fall into the trap of assuming you won't be good at something because you did poorly in the related school subject. Keep an open mind as you explore various business ideas.
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