7 simple hacks to finding your first business idea

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Everybody wants to start a business, but few are ready to put in the work. These tips might make all the difference. FMTNews Business

So, you feel you’re in a good place to start something fantastic for and by yourself. However, the daunting question is, how do you come up with a great business idea?1. Trade being original for being being better

Don’t be discouraged. There are countless examples where someone took an original idea from elsewhere and made it brilliant.Many new business owners flop because they venture into something unfamiliar. Think of that friend who traded their day job to realise the dream of opening a restaurant or a B&B, with no experience in running either.Now, this isn’t to say that people shouldn’t try something entirely new.

Take advantage of your discovery and market it in your area. You may even find a new way to present this product to better suit local clientele’s taste. It wasn’t very popular so the founders investigated exactly how their customers were using their app, to see how they could improve it. Look around at some of the offerings of big market players and see if you can produce a similar product for much cheaper. Look for local or overseas suppliers that would be willing to cut you a deal.

 

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