Remember the following about any idea for a new business:
• Always be on the lookout for ideas. They can come from anywhere: your work experience, a hobby or even
your experiences as a consumer when an existing product or service doesn’t meet your needs.
• Identify a niche. Usually the niche or opportunity will be an innovation or proven idea in a new market or a
unique idea in an existing market.
• Learn everything you can about the business you want to start and the marketplace you’ll be operating in.
This means getting work experience and collecting information so you’ll know the industry inside and out.
• Make sure your idea is focused so that you can express it clearly in 50 words or less.