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Understanding market needs

Until now, you concentrated (e) inward to find your business idea. It is now time to focus outward to find a need that has not been satisfied but who may be using your product or service.

There are many lists of companies "Top 10" or "Hot New". These may stimulate some ideas but the best business ideas come from you and will be based on who you are and the market needs. During your soul searching and developing your list, keep your eyes open for business opportunities.

The worksheet attached is designed to assist you in finding ideas. Feel free to be different (e) and do not be discouraged if your initial ideas are not perfect. Put them aside and keep working.

Do not limit yourself to these questions create a vivid vision of yourself, touching on things that are important to you. These are personal issues that will influence the type of business you pursue - being a person of the city or the countryside; wanting to travel or sit at your computer; liking to meet people or work phone. This activity will help you create the basis for choosing a business, make business decisions, and setting clear goals.

It is best to do this exercise with someone else and share your vision. If you can not, put it in writing to make your vision more concrete.

Identify your strengths and what you enjoy doing

It is often helpful to get inside of yourself to understand what you like and what you dislike, and what are your talents. Find a Winning Business Idea is one thing. Find one that interests you and is suited to your skills is another.

One of the best ways to do this is to develop three separate lists:

List 1: Your Strengths
Everyone has a strength and many skills can be the basis of a company. You can be someone naturally organized or have a knack for fixing things. It may be that you are so used (e) your skills you do not think about it immediately, so assemble this list by observing yourself for a few weeks in order for your aptitudes and by asking people who know you well to give their impressions of the areas where you excel.

List 2: Skills learned through the years
Whether you worked in a traditional or not, you have no doubt accumulated many skills. Write down all the work responsibilities you've had, think about the varied tasks you know run. Make sure this list is complete - there should be at least 10 distinct items.

List 3: Things you enjoy doing
Make a list of things you enjoy doing. This is not as easy as it looks. This list should include at least 10 elements. Stretch beyond your hobbies and interests that spring to mind immediately. If you get stuck (e), ask people who know you for a long time - particularly people who knew you when you were a kid - what they have seen you do in your moments of happiness.

Keep these three lists in an accessible location (eg your desktop) for several weeks, and whenever you have an idea, write it in the appropriate category. Ask people who know you well to give their opinion or help you jog your memory.