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Brainstorming Unique Business Ideas

Truly unique concept development is a struggle, which is why there is often a lot of “copying” within an industry. Our new business, product and service ideas often have existing products and services as a base, producing only incrementally different results. Stepping outside of the existing framework, in order to see opportunities in a new light, is the key.

What is Brainstorming?

According to Wikipedia “brainstorming is a group creativity technique that was designed to generate a large number of ideas for the solution of a problem.” Brainstorming business ideas should be uncensored. No idea is dumb or impossible and each person’s contribution is equally valuable. The mail clerk’s ideas are as valued as the President’s.

In order to step outside of the existing business or industry framework, participants must “erase” their memories and pretend they know nothing about what is (or is not) possible. Consider each idea with equal thoughtfulness, no matter how outlandish. The task at hand when brainstorming truly unique business ideas is to free-associate, generating as many ideas as you can.

Brainstorming via the Five Senses

There’s nothing more boring than a sterile conference room. Yet this is where many new business idea / concept development sessions take place, in a room with four blank walls and no stimuli (far from the best atmosphere for brainstorming new ideas). Brainstorming sessions need “springboards” to get the creative juices flowing.

One technique for breaking out and generating innovative business, product, or service ideas is to get all of the external senses involved. Try filling colorful gift bags with small items of different textures, tastes, appearances, ingredients, sounds, and smells. In the brainstorming session, break into small groups of three or four people and give each group a bag. Have each group sort through the bag, imagining how the sensory aspects could be incorporated into a new product or other new idea. After about 20 minutes of digging through the bags, discussing, and writing down ideas, allow each group to present their ideas. You will find yourself with many more great ideas than you can execute.

Brainstorming via Trends

Another approach to brainstorming business ideas is to study trends. Business and general interest publications; the Internet; and trade journals can be effective brainstorming tools for several reasons:

– The general publications contain articles across several industries — and society in general — which is good for brainstorming new ideas that can apply to your own industry.

– Business publications often include a mix of short articles (good for brainstorming ideas based on what others outside your industry are doing) and in-depth reports (good for new product concept development based on trends).

– The Internet reflects trends on a real-time basis. Social bookmarking sites and blog directories (such as del.icio.us and Technorati), track and report the hottest topics. Wordtracker monitors online searches, reporting the top 100 daily.

– By skimming a variety of business related articles (news articles, features, human interest, and analytical pieces) you broaden your idea base, which results in more new product ideas.

No matter what your brainstorming techniques, remember two rules:

1) no censoring and

2) use your senses and current trends as springboards for new ideas. Do this and your brainstorming sessions are sure to be a success.

How to Create a Value-Based Business Plan

Business plans are usually written by executives who want others to invest in their companies, but they can be an effective tool for helping new businesses to plan for their futures. The plans are a kind of snapshot of where the organization is at present, and where it hopes to be, typically in three years.

Value-based business plans emphasize what they will give to the customer or the investor, rather than what they will get in return as a result. This is opposite of the way many such plans are written.

Business plans consist of seven sections: Executive Summary, Products and/or Services, Operations, People, Marketing, and Appendices.

Executive Summary

The Executive Summary is similar to the overture in an opera. It ties together all of the main themes that will be presented in the document, and enables those who read it to get an overall understanding of what is to follow. Although it appears first, it’s written last.

Products and/or Services

This section explains in some detail the what of the organization. What is the company selling? Does it sell physical products or services? The answer you give will dictate how the rest of the plan is written.

Operations

This part of the plan explains the how. How will the organization deliver the products and/or services it described in the previous section?

People

This section lists the primary players, and briefly summarizes the contribution they will make. Why does the success of the business depend on this person or team of people.

Marketing

This section describes how the organization will make itself known to potential customers. Topics include target market and the expected return-on-investment. Sometimes letters-of-intent and existing contracts are placed here.

Financial Projections

In even the most complex business plans, this section often can be kept to one page. It summarizes the expected income, expenses, and profit-before-tax for each of the years covered by the plan.

Appendices

This section is usually the longest part of the plan and can include copies of patents, descriptions of research and development projects, or a more detailed description of complex processes.

It may also forecasts on the quantity of units that it will produce, or the number of customers it expects to serve over the term of the plan. The resumes of the personnel described earlier in the plan will be here, and detailed financial projections for the period.

There is no prescribed limit on the length of business plans, but without the appendices 30-50 pages is the norm.

While the plan may be for internal use only, this is not the place to skimp on the detail. The more that readers can understand about what you do, the more likely they will be able to help you achieve your goals.

Top Online Business Ideas – Do They Really Exist?

There are hundreds and even thousands of business ideas that float around online. There are individuals who have made a lot of money through selling products or services on the internet. Not everyone has such a level of success and this is due to a number of factors but it leaves people wondering if there are really and truly any top online business ideas.

Factors Affecting Success

While many individuals dream of succeeding at business, not everyone is cut out for it. A person needs to have a great amount of work ethic and determination to start with. They also need to choose the right product or service, the right business strategy, and implement the correct amount of marketing in the right direction. The vast majority of individuals who start an online business fail and it is because they have lacked in one of these areas or others.

The Good News

There are some great business ideas for online entrepreneurs that they can succeed with as long as they are willing to put in the required time and effort. They need to work at the business, create a good business plan as well as a marketing strategy. This takes research but it is worth it because it creates a larger level of success.

Choosing Top Online Business Ideas

There is no best business idea for any one particular person. The truth is that everyone is different. There are certain aspects to consider however, that a person can use to decide on the best business for themselves.

1. Product: Choose something that is enjoyable and is of personal taste.

2. Profitability: Choose something that will make enough profit to be worth the time and effort.

3. Perfection: Choose a product that is as close to perfection as possible that is credible.

If a person keeps these three points in mind while thinking about how they can sell the product, they are much more likely to succeed. A person can only truly be successful with a product that they believe in and that they like to share with others. This will not only bring a more genuine approach to sales but they will also have more motivation to sell it.

Keeping Mainstream

To be successful doesn’t mean staying mainstream. There are plenty of niche products available that are selling in high quantities because they are marketed effectively reaching the target market. That is the same with any business.

Anyone who decides to sell products not only needs to consider the previously mentioned aspects but also marketing factors. They need to know how to market and sell each product. They can really succeed in online sales if they research these methods and work at them. Nothing is completely successful right at the start but with time and the right strategies, online business ideas can turn into huge success stories that become the top business ideas.

5 Great Ideas To Boost Business Productivity And Reduce Stress

According to a recent business study, 92% respondents say they make or take work- related communications outside of the office, including during vacations.

Like most people in corporate America, there never seems to be enough hours in the day to do complete tasks leaving employees the options of either burning the midnight oil or infringing on ‘personal time’ with work projects. While one can’t create more hours in your day, there are effective ways to use that time more wisely. Discover better, proven, and efficient tips to increase productivity and decrease stress.

Make every hour count. Plan your day in 15-minute chunks and prioritize your tasks. That’s smart time management, but it doesn’t guarantee you’ll work productively. You’ll operate most efficiently if you banish aimless anxieties and the urge to procrastinate.

Here’s some ideas to boost workplace productivity and reduce stress:

1) Get it down…clear your mind! Have a pen and paper ready and list your anxieties, numbering them in order of importance. This exercise will help you clear your head-and maybe even reprioritize-so that you can return to work free of mental distractions.

2) Allot “worry time.” If you grow anxious thinking about all the work that awaits you, then reserve blocks of time to indulge yourself in worry. Don’t let these thoughts creep into the rest of your day-or you may wind up worrying about a job rather than doing it.

3) Confront, don’t complain. There’s a time and a place to vent your frustrations. But if you deplete precious time during the workday by dropping what you’re doing and talking about your irritations, you’ll dig yourself in even deeper. If you’re annoyed at a co-worker, don’t complain to whoever happens to walk into your office. Instead, speak directly to the person with whom you’re upset. This saves time and reduces the spread of ill will.

4) POP: Plan, Organize, Prepare. Plan ahead using solid project management skills. Make sure you map out milestones on your timeline and anticipate ample turnaround time for deliverables and deadlines. Organize your notes, tasks, and workload. Prepare for projects, such as fact gathering, logistics, or calling hard-to-reach project stakeholders.

5) Anticipate first, reflect later. If you make a high-profile mistake, you may feel compelled to dissect what happened in excruciating detail. That’s fine on your own time. But don’t waste the day analyzing a screw-up or justifying your decisions to any and all who’ll listen.

These are simple, proven tactics that can help you prioritize tasks and anxieties… and stop you from working in a constant crisis mode.

5 Tips To Writing A Good Business Plan

Starting up a business is an exciting time, but writing a business plan can seem daunting initially. However, being able to write a good business plan is an essential skill to have for any entrepreneur or new business looking to increase their chance of survival.

1) Identify your audience. A good business plan should be written from the prospective of the audience. First, you need to decide on the purpose the plan. Are you trying to persuade an investor to take on your project or communicate the future plans for the company? The purpose of the business plan will affect the style and content so make sure you are clear on this before beginning. A good business plan needs to be tailored to the specific requirements of the target audience in order to be engaging.

2) Do your research. In order to be able to write a strong, comprehensive business plan you need to possess a sound knowledge of the market you are involved in. You need to actively conduct market research and ensure that your plan makes reference to your findings. It should include factors such as market size, the predicted growth path of said market and how you propose to gain access to it. For example, if you are planning on opening a bar then your business plan should include figures based on the local population, cost of suppliers, predictions about whether the bar industry is likely to grow or decline in the area and a review of the competitive environment.

3) Assess your competition. Understanding your competition is an essential component to understanding any business environment. Whatever the business you are looking to establish, you will always have competition in varying degrees. Perhaps you want to open a restaurant in an area that is already saturated with eateries; you then need to think about what is the unique selling point of your restaurant. Or maybe you have found a niche in the market, why is that? In order to make your business a success you should look to your competitors to see how they are managing their business or areas where they could improve. You also need to assess whether you can compete effectively with the existing businesses and how you plan to do so.

4) Attention to detail. A plan that is concise and clear reads professionally so don’t make yours too wordy. The reader needs enough detail and information to be able to make an informed decision. As with all professional documents, care must be taken to avoid spelling mistakes and use correct grammar and punctuation. A plan that makes absurd or unrealistic assumptions is of no use so stick to the facts and make sure you are making credible projections and accurate content at all times.

5) Cover all bases. Before embarking on your plan it is a good idea to undertake some research in to what a professional business plan should include. You can then use this as a check list to make sure you have covered all the relevant areas. Sections of the business plan should include information on the company, the product/service market, competition in the field, management team, marketing strategy, operations and financials.

Once you have done all this you should have a complete and detailed professional business plan. The most important thing to remember when developing the plan is to see it as a living document and include specifics regarding dates and specific responsibilities. Your plan will need constant reviews and updates and things change so expect it to be a work in process for a good stretch of time. It will all be worth it in the end, a well-written plan will help ensure that the business is fully focused on what is required to achieve the company’s goal.

Sustainable Startup Business Ideas

Starting a business at this time when even the world’s major economies are struggling to keep up with the economic crisis can be a big challenge.

There are people who believe that while this is true, this is actually the best time to start a business provided you have the right startup business ideas in mind. While no one can guarantee the success of any business, you can however choose a business that will stand the test of time.

When you talk of sustainable startup business ideas these days, you no longer just refer to green business ideas. A sustainable business idea means a business that is needed by the society not only for now, but for a much longer period. It is a business that can survive even the toughest economic times because it does not require lots of capital and overhead expenses to keep it operational.

Here are some sustainable startup business ideas you can explore if you have what it takes to go into these types of business:

Consultancy

Professionals who want to spread their wings but do not have much capital to go into business can start their own consultancy companies. Thanks to the internet, you no longer have to rent out an office to start one because you can work from home and promote your consultancy business online. It is important to be some sort of an expert in a certain profession before you can go into consultancy. It can be in accounting, writing, information technology or some other skills you have trained for and earned an expertise in the past years through employment, education or other methods.

But even if you are an expert, you still need to market your consultancy and in effect your brand. The best way to start a consultancy business is to create a website in your own name. The website should include all the services you offer and if possible, referrals from past customers who have benefitted from your services. Take advantage of social media to promote your website and your consultancy business. But do not just stop there. Send proposals to companies or individuals who may need your services.

Online retail

The Internet plays an important role in every aspect of society’s life today including how we do business. Thanks to the increasing accessibility to the internet, the retail industry now provides a level playing field even to small startup business ideas. Thanks to the internet, it is now possible to start your own online retail business without thinking about paying for the rent and other overhead costs that goes with operating a traditional retail business.

In the United States alone, over 24 million now rely on the retail industry for their livelihood. Food, clothing, books, appliances, automotive, name it and you will find an online retail store that sells the said product on retail. The market may be saturated but there is still room for innovative startup business ideas and yours might be another brilliant retail idea.

You only need a small capital to buy the items you need to stock up on your retail store. Then build a website and take advantage of the social networking platforms to promote your brand. This can be done even if you are operating in a home office which lessens the operating cost of your business.

Not all startup business ideas can become a successful venture but if you are passionate about any of these two ideas then you might be the next big thing in the industry. But first, you have to make your idea a reality.

Building Your Business Marketing Plan and Referral Marketing System

Recently I had a conversation with a client about their business, their marketing plan and their referral system. Their question was, Should we be working by referral only, or should we consider other aspects of marketing? My feedback was simple; you should not be doing either with out a plan.

Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives.-Contemporary Marketing Wired (1998) by Boone and Kurtz. Dryden Press.

How does your marketing plan relate to your business plan, your mission statement or your vision statement? Your company’s business plan provides the environment in which your marketing plan must flourish. The two documents must have continuity between them according the American Marketing Association.

Inside your marketing plan, you look at all aspects of how you get your message to prospects that might be in need to your product or service. For instance, you may have advertising as one of your marketing activities. Under advertising you may have, TV, Billboard, Coupons, Radio, Google Ads, and so forth. For each of those you need a budget, a timetable to implement, a system to measure results, and a target market.

Your referral system should be part of your overall Marketing Plan. Unfortunately, most people do not have a plan for referrals. They might implement a reward system for people or customers who send them referrals and they stop there.

A good referral system should have a target market, a timetable for implementation, a budget, a training system for your referral partners, and a system for tracking your results. Your referral-marketing plan should be part of your over all marketing plan.

Should you be By Referral Only that is really a question that you must ask yourself. There are many business professionals who are by referral only, because they know they have plenty of work, many good clients and they know that referred clients have a longer shelf life, spend more money and are more likely to refer others to them.

Building your business by referral takes more time than money. (remember time is money) Relationships and trust take time and cannot be rushed or bought.
Advertising, PR, and many other forms of marketing take more money than time.
Both must have a plan.
Building your brand and your business takes a combination of both.

Business must stop letting referrals happen by accident, and they need to look beyond the “customer referral” to actually developing a plan to find, train and reward referral partners. Having a quality referral marketing plan will increase the quality and quantity of referred prospects. Organization like the Referral Institute work with business across the nation to develop their Referral Marketing Plan while the American Marketing Association supports a variety of professionals who can help a business develop their marketing plan.

If you are a new business owner or an established business owner, make sure you have a plan and review it often.

Small Business Ideas for Entrepreneurs

Introduction

Many people envision the day they start their own business. They know with hard work they will achieve success. That is the easy part. The hard part is coming up with the best idea of what industry it will be in. There are so many potential fields to choose from. Yet somehow, when it comes to deciding on one, their mind goes blank. Here are some potentially successful business ideas for you to ponder.

An Electronics Installation Business

There are a lot of folks who do not know how to install and/or set up the new electronic item they just bought. Either that or they do know how but lack the time to do it themselves. That is where this kind of business can come in handy. You hire skilled installation specialists to go out and perform these services for customers. Everybody wins with this one.

Software Teaching Business

What you would be doing in this case is hiring people who have a vast knowledge of different software programs. Then you connect them with customers whom they can teach to use the programs. This can be done locally on an in-person basis or over the Internet on a remote basis. The more programs one person can teach, the better. You should also seek people with a lot of patience. The prospective students will likely have lots of questions.

Create a Writing Business

Here is another industry that is full of potential customers. For a variety or reasons, scores of individuals are not able to do their own writing. It could be lack of skills, or lack of time, or whatever. Maybe they need a quick article on a specific topic, or a resume or a simple business letter. You can recruit experienced freelance writers to be a remote staff for your business. Then you are ready to seek clients. There is such a huge need for this these days, you are sure to succeed.

Personal Care Associates

What are they? They are individuals who can either care for children, care for special needs patients, or care for elderly patients. Of course, for this type of business, you ought to require that the candidates be properly trained and, at least, certified. Possessing a license is even better. With that said, there are plenty of qualified persons who are not currently employed. There are also oodles of people who need personal care. If you had a business in any of these industries, you could match them up. One more thing to be sure of is that they have the proper personality to assist patients on a regular basis. Someone with a short temper, or who is not a “people person,” would not be a good choice.

Begin a Yard Care Business

It goes without saying that there are already many landscaping businesses out there. That is not what we are talking about here. Full-service landscaping companies can be expensive. You would fill a big need by finding local workers who can mow lawns, take care of plants, rake leaves, shovel snow, etc. Your clients would be residents who cannot afford a large landscaping firm.

Wrap-Up Thoughts

For everybody’s sake, anybody you hire for any of these types of businesses should have an extensive background check done on them with a printable report available. Once that is taken care of, you can hire them and send them out to work.

People, these are merely a few ideas. If you give it plenty of thought, you are bound to think of something your community needs. Remember, the worst idea is the one you have never given a shot. Good luck!

Automobile Business Plan – Four Steps to Success

Like other business plans, the contents of an automobile dealership business plan cover four primary steps towards success. These steps are “opportunity”, “capacity”, “activities”, and “results”.

Opportunity

The industry, customer, and competitive analysis in your business plan proves the opportunity. This should identify that customers in your local market are in need of a dealer of the type you’ve chosen to be because competitors are not fully serving their needs, or because their demographics are changing (more population, richer, poorer, more families, etc.) The opportunity could also be that a certain combination of services by your dealership could improve on what competitors are currently doing. The overall industry situation should look ahead to how the car sales market will be doing six months, one year, or more in the future, when the dealership will actually be open.

Capacity

The experience of the management team, your license as a car dealer, and the financial resources the partners can bring to the table cover the capacity of the entrepreneur to jump on this opportunity. Funders reading the business plan expect that there will also be an element of cash missing from the entrepreneur’s capacity at the moment. Otherwise, they would not be reading the plan in the first place.

Activities

Marketing and operations plans cover the activities the company will engage in to bring in car buyers (and car sellers if you are a used car dealer as well), and run the business as efficiently as possible. As a small car dealer, consider how you can make up for this lack of scale, and the cost savings that come with it for dealer chains, through creativity and hard work.

Results

Finally, the projections of business success and financial section of the plan show the results that you and investors should expect. If results take into account the full costs of the methods you’ve described, and include adequate compensation for staff and key team players, readers will be less likely to question elements on the cost side. If your revenue projections are based on reasonable, researched assumptions about the car buying behavior of your local market, then readers will be more likely to accept this side of the projections as well.

Top 5 Ideas For Starting a Small Business

Are you thinking about starting your own business? Perhaps you’re still employed but would like to start a business on the side. Or maybe you’re a homemaker whose children spend the day in school and you would like to earn some extra dough. Whatever your motivation, your mind must be full of questions about business plans, ideas and startup costs.

There are plenty of decisions you have to make, from broadband plans to business card printing. But for most potential entrepreneurs, the most difficult part of this process is coming up with business ideas. The truth of the matter is many potential business owners never get started because they have trouble coming up with business ideas. If you are lacking that creative spark then this article, which examines 5 ideas for starting a small business may be of some help to you.

If you love cooking then catering is a fun way to combine business with your hobby. Catering can be done on a small scale if you already have a well-equipped kitchen.

Start a consulting business online. Business consulting is one industry that performs well during recessions and if you have the skills and the know-how to help organisations improve their performance, this may be an ideal business for you. The key to success in this business is networking, so pick up the phone and call everyone you know!

Having an online business is the quickest way to the global market from your sofa. But just how do you succeed as a webpreneur? First and foremost, do your research and find out what’s worth chasing and what’s not. By being well informed, you can take educated and calculated risks. You also need to know your market. You will have many competitors so the best way for you to stay ahead is to add value in your service, be it in pricing, quality, quantity or aftercare. A little extra service goes a long way. It pays to learn about search engine optimisation or SEO because this will help you promote your website, which should look fantastic and provide accurate and adequate information. Finally, constantly check the results you are getting and if the business needs to be tweaked, don’t be afraid to do it.

People love working from home and if you have the skills to be a web designer, you can do just that in the comfort of your own home. Although there are many web designers in the market, demand for their services is high and if you market yourself well, you will have a large clientele in no time. One way to get your name out there is to work with complementary businesses. For example, if you’re good at designing brochures, speak to a brochure printing company and come up with a package deal for potential clients.

Are you an avid photographer? With the right equipment this can be a fantastic job for you. Although camera equipment costs a fair bit, you can make a killing at weddings and corporate events.

Catering
Consulting
Webpreneur
Freelance web designer
Photographer

These ideas may or may not work for you so before you start any business, ask yourself these questions,

Is there a demand for your product of service?
How much money do you need to start your business?
How will you differentiate your business from your competition?