How to Conceive Business Idea in 2022

Starting your own business has several financial benefits over working for a wage or salary.

First, you're building an enterprise that has the potential for growth – and your wallet grows as your company does.

Second, your business itself is a valuable asset. As your business grows, it's worth more and more.

Most especially now, you really need to own a business. The economy is not friendly, pensions and gratuity is not secured anymore.

Everyone want to start their businesses but doesn't know the right business or venture to start. Other people know the line of business to they want but how to start.

Starting a business is always a challenge.

👉🏼How do you conceive a business idea?
👉🏼How do you know the products or services people are willing to buy or pay for?

To get Answers to those questions, ask yourself the following questions:
👉🏼What is it that frustrate you daily?
👉🏼What products or services do you need most daily or frequently but the supply or services are insufficient?
👉🏼 What processing is frustrating you?

More likely, most people in your community, environment, state or country are facing same frustrations.

This is an opportunity to start business solving or fixing those problems.

👉🏼 What are people complaining about?
👉🏼 What do people want?

Don't just be thinking about what people NEED but also think about what they WANT

As a matter of fact, businesses built around what people WANT are more likely to succeed than those built around what people NEED.

Once you gather these needs, wants and problems around you, you will likely see lots of business opportunities you can venture into.

Next, is to conduct Market Research on those ideas.

In my next post I will be talking about MARKET RESEARCH ANALYSIS.