By ROGER PIERCE, BIZLAUNCH.CA
What makes one business idea soar and others crash? Is there really a “secret ingredient” to business success?
If you’re struggling to come up with a great business idea, follow these tips:
– Rob and Duplicate. Combine elements from two successful businesses to create a third. GroceryGateway.com combined grocery delivery with online ordering to create a new business model for consumer food sales.
– Open Your Eyes and Ears. Business ideas are all around us if we just watch for them. Listen to your friends and family when they complain, “I wish someone would offer to do this for me” and act on it.
– Forget Inventions. Inventing a new gadget isn’t the fastest way to start a business because you have to invest a lot of money and time to get it off the ground. Think services or online retail.
Be Better. Competition is actually a good thing because it proves there is an existing market demand. Like Pizza Pizza’s famous 30-minutes-or-free guarantee, you just have to find a way to do things better than the other guys.
Get your own brilliant small business idea at the free Bell BizLaunch Seminar How to Create Your Million $ Idea. It’s delivered by BizLaunch on June 20 from 6:30 to 8 p.m. in Room 303 at Metro Hall, 55 John St. at King in downtown Toronto.
To register, visit www.bizlaunch.ca/bellseminars