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All you need to start a business is one good idea, right?
Not really. While that can sometimes be true, the best foundation
for business success is to have several possibilities
for creating profits. Since you will spend a good deal of
time managing your business, it's best to choose wisely
from the start.
Review you own work experience, hobbies and interests.
Research market conditions and trends. Determine what needs
exist in the marketplace that haven't been filled. Many
small businesses are founded on the idea of creating a solution
to a problem that didn't have an existing solution.
The following documents may help generate and develop
ideas for starting a business:
- What
Business Should You Start?: an alphabetical listing
of potential business you can start
- Industry
Sector Reports in foreign markets (Canadian Trade
Commissioner Service): Industry Sector market reports.
(The previous 2 documents are provided courtesy of the
Canada-Manitoba Business Service Centre.)
- Home-Based
Business: a list of types of businesses which can
be operated from the home, as well as tips on start-up,
pros and cons, and related books
(courtesy of the Canada-Ontario Business Service Centre)
- 40
Concepts for a Small Business: explore additional
products, services, procedures and processes that may
enhance your initial idea
(courtesy of the Canada Business Service Centre)
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