With unemployment at the worst levels in the history of our country, it is becoming necessary that school leavers and varsity graduates consider the option of self employment by starting their own businesses.
So, is this as easy as it seems? Not exactly, I’ve personally been there, where I have had to look at and explore alternatives. It’s very intimidating and difficult to know what the market needs. Will it work? Will people pay you for your services? And lastly, is it sustainable?
You possibly started off buying self-help magazines and books containing reasonable franchise options that can make money, and then realized there is only a limited amount of opportunities for mini doughnuts and instantaneously-moulded garden bricks.
So what is the answer? This is where you come in to the picture…
At some point we have all driven around, looked at something and said to ourselves “Someone should do that!” or “Why doesn’t someone invent that?”
Well, what is it that you think “someone should do?” Think about it and submit your idea. Let us know how you believe it could become a viable business opportunity for someone to initiate, develop and turn it into a lucrative business or even just an opportunity to employ themselves.
For more business ideas check out the Idea Factory, here on Bizlink
Here are some questions to help you decide whether your idea has the potential to become a viable business idea:
- Is there a need by larger corporations for your product or service, as they have purchasing power?
- Can you get started on a reasonable or small initial investment?
- What are your monthly expenses and how low can you keep them?
- Is your service a ‘must have’ or a ‘nice to have’? It needs to be a ‘must have’ or be important enough to impact on your client’s business operations, brand or at least have the potential to increase their client base or income.
- Most importantly, does your business have the potential to build up an annuity income, by way of monthly service fees or monthly contracts, over multiple channels? Remember: Annuity Income is King!
If you believe your idea has potential to become a successful business opportunity then go out there and start a business!
Remember an idea is great but, EXECUTION of your idea is what counts
Related article – https://money101.co.za/execution-everything-business/
To learn how to start, run and grow a business – Get to the Bizlink Academy – A one day business programme, presented by over 20 business experts representing different industries and aspects of “things” you need to know in order to launch and grow your business
Need some Inspiration ?
These guys built a $100 000 Million dollar company based on a simple piece of advice drummed in by Mom