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💡Need Inspiration? 5 Methods for Coming Up with a Great Business Idea

Starting a business is a lifelong goal for many people, and it’s not hard to see why! The chance to strike out on one’s own, leave the rat race for good, and provide value to the world is a tantalizing prospect. But those dreams can’t go anywhere if you don’t have an idea for a business to start with. Here are just a few ways that you can find your dream and hit the ground running:

Think about Problems Complexly and Offer Solutions

At their core, businesses are answers to problems that exist within the market. They are the response to a question. Think about your own life and the issues that exist within it. How could those problems be solved? When you have a solution to a problem, then people are likely to pay you to provide it. Think about problems complexly and look for ways to innovate!

Focus on Providing Value

The question you should ask yourself when deciding on a business idea is “How can I bring value to this market?”. Chances are that unless your idea is on the cutting edge of innovation, you’re going to have some competition. What makes you different? Why should a prospective customer choose to work with you, and not someone else? The value that you provide is that deciding factor.

Look for Structural Gaps

In almost any industry, there are guaranteed to be some form of structural inefficiencies. When you identify and have an answer to these gaps in efficiency, you effectively differentiate yourself from the industry writ large. You make your business the answer to problems that people didn’t even realize that they had.

Find Your Passion

Finding pain points and inefficiencies is great, but the people who truly drive their industries forward are the ones who feel an all-consuming passion for them. They are the ones who will do anything and everything to succeed, and lift others up along with them. Finding that passion is one of the single greatest things you can do when searching for your business idea.

Look for Ways to Create Change

Businesses are answers to questions and problems. You should seek to drive your chosen industry forward. How will you create change in the world? Is it through solving a problem, creating value, or doing things differently from the rest? Your answer will help you to solidify your business idea and truly create something great.

At Fund Find Lending, we help entrepreneurs of all kinds connect with the capital that they need to help make their dreams a reality. Apply today and get your business started!

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