Understand what makes a good business idea

Your business idea should

• Solve a customer’s problem
• Help the customer meet a specific need
• Be something that people are willing to pay for

The business idea should always think of the customers, their needs and what they are looking for.

Look at your skills

This includes natural and learned skills from school or through voluntary training. Selecting a business idea that is based on your skills and experiences is incredibly important for your success. Write your skills down.

Look at the resources and materials you have

To which resources or materials do you have easily access? This can be land, machinery or other idle resources. Write it down.

Look at the community or environmetal problems around you

Look around in your community. If you can come up with a solution to the problem and are able to convince the community to pay for it, then you can create a business around that solution. Write down all the ideas you come up with.

Look for gaps what people want and what current business are providing

These gaps can be identified through people’s frustrations or even your own. Ask around and note everything that you can find out.

Generate a list of your business ideas

Take into account what you wrote down before.

Evaluate each idea

Pick up each idea from your list and see if you able to answer the following questions:

• How much do you know about the products or services for this business? The more, the better!
• What knowledge and skills do you have that will help you to succeed?
• Do you have access to the needed resources?
• Do you have sources for advice and information?
• Do you have sufficient interest in this business to progress?
• Is there a ready market willing to buy the product or pay for the services?

Finding YOUR business idea is a process and takes time - don’t give up too early.

Test your business idea

Ask your family and friends what they think about your business idea. Then also ask potential customers that you do not know. Be ready to refine your idea!