How To Find Your Own Great Ideas For A New Home Based Business

Running a home-based business is fun and rewarding. Take the time to choose the business that will meet the needs of your community and yourself.

With today's struggling economy, many people are looking for ways to start a home-based business. Whether you're a stay at home mom or someone looking to supplement income from your current job, starting a home based business can be fun and rewarding. Finding the right business for your needs is the most important step to success. Your new venture must fit your personality, lifestyle and community in order to become a thriving business.

Get yourself a cheap, spiral notebook and carry it everywhere with you. Dedicate that notebook to the following idea generators. Take about a week to study the following and write down every idea that comes to you, regardless of how impossible it may sound to you. This is a time to jot down thoughts as they come to you. Right now, nothing is unachievable. Sorting through and eliminating ideas will come later.

Look at yourself. Write down everything you enjoy doing. Are you into scrapbooking, or crafting? Do you enjoy teaching others? Do you play a musical instrument? Consider turning one of your hobbies or interests into a home- based business. What special talents do you have? Are you a computer wiz? Love to cook? What can you offer that a potential customer can't do on their own? Find those interests and talents and expand on them.



Look at your community. Talk to your friends and neighbors. What do your friends and family think you excel in? What services or goods do they wish were more plentiful or more easily accessible in your community? Talk to small business owners. Often times, small businesses have needs they cannot meet on their own and contract projects out to others.

Read local newspapers and magazines. You may read about someone who is running a business or has a hobby that interests you. There may be people in your community looking for your particular skills. While reading you may have an "aha" moment, something that jumps out at you and makes you think, "that would make the perfect business for me."

Remember; write down everything that comes to you for about a week. Take the time to jot down ideas without eliminating anything.

Now that you have a good many ideas to sort though, think about your personal limitations and family circumstances. Eliminate those ideas you don't have the time or interest to pursue. Maybe you have "in home babysitting" on your list of things needed by the community, but if you don't have the space or patience to deal with small children all day, eliminate it.

Next, take a look at your personal finances. Sit down with your budget and evaluate your ability to front start up costs. Eliminate all ideas that require start up costs higher than you can afford.

Make a list of everything you have left. Is there a way to combine something from your "personal interest" list and your "community needs" list? Write down possible combinations and expand on the ones that peak your interest. Take your top 3 ideas and talk to friends, family and neighbors about what you have come up with. Evaluate community need and opinion. Check in to possible business competition. Choose the business that seems to have the most interest and fewest competing businesses.

Idea generating seems to be a lot of work, but in the end you will have a home-based business that fits into your family, lifestyle and community. You will be more successful and happier with your business venture.

© High Speed Ventures 2010