Successful business ideas don't just fall out of the sky - or do they? If you examine some of the world's most famous entrepreneurs - people like Richard Branson and Anita Roddick - it appears they come up with major business ideas easily, out of the blue.
But is there a method to coming up with a great business idea? Perhaps there's not a method per se, but there are a few characteristics every successful business idea has in common. Let's take a look at three of them.
In his book Purple Cow, marketing expert Seth Godin underlines the importance of being remarkable in the Internet age. No longer can companies get away with blasting average products out to the masses through TV advertising. Web business ideas need to be worthy of attention to work.
In order to compete in the world today, the business you start needs to be unique enough to inspire word of mouth. You have to give people a reason to talk about you - so they'll tell all their friends.
This can be seen with the advent of 'viral' marketing, which spreads through media like Youtube and Facebook and can generate massive exposure from relatively little effort.
But once again - there's no formula for this. You have to think outside the box. The most profitable small businesses are the ones that innovate.
I'm yet to hear of a successful entrepreneur who wasn't passionate about the business or businesses he or she was involved in. If you're not passionate about your entrepreneurship ideas, it will be extremely difficult to grow them into anything worthwhile.
Richard Branson is the often-quoted example the demonstrates this well. Branson doesn't mess around with business ideas that don't excite him in some way. He looks at the numbers, of course, as any billionaire must - but he isn't driven totally by numbers.
He has an intuitive approach to successful business ideas and he puts his energy into the aspects of his businesses that he's passionate about. He gets his employees to do everything else.
Now, chances are you're planning to start a small business as a solo entrepreneur, so you may not have any employees to delegate to for a long time (or ever).
So you better make sure the business idea you come up with is something you're passionate about. You don't have to be passionate about every single aspect of it, but the passion needs to be strong enough to get you through the 'grunt work' you don't enjoy.
So far we've covered the 'X factor' elements of a great business idea. These are the creative aspects of a business idea, the ones that don't really involve a formula. They have to come from your own resources, your intelligence and your inner desire to succeed.
But there's an equally important flipside: the cold, practical processes your business needs to work. A good business idea needs to include the step-by-step fundamentals of how the business will actually operate.
Without that, you have an idea - but that idea has no way to pass into reality. There's no method to make it happen.
The Internet has made it easier than ever to establish whether or not a business will be successful or not before it even starts.
At Premium Online Writing, we use advanced keyword research tools to find untapped niche markets which form the perfect basis for your online business. And we do it in a market you're passionate about. Got a great web business idea? We can help you make it a reality. Can't think of one? We'll help you develop a business from scratch.
Author: Tom McSherry
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