Stuck for an original business idea?

Then you need to take a look at Iddictive. Every day, Iddictive gives you a new cool, quirky or innovative business idea.

How about a travel agency for  soft toys? Or the Kidspotter – a rentable device that enables you to track the position of your children when at a theme park or shopping centre? You’ve heard of mumpreneurs, how about being a retropreneur too? (That’s someone who gives an old-style business idea a new lease of life).

Brilliant for sparking a fresh idea  or spotting a new trend.

Is there a market for my business idea?

This is a question that I’ve asked myself over and over again for the past eighteen months. I’ve had around ten different ideas in that time and this question has been on my mind for all of them.

It took me a while to realise that nobody can answer my question.  I just had to get out there and find out for myself. Fortunately it’s never been easier or cheaper to research a business idea. In fact I did it for free using Survey Monkey, a free blog from wordpress.com and a few posts on relevant internet forums.

You can read more about this approach at Hire My Parents – Is my business idea a good idea?

 

Can you really make money from an internet business?

If you've looked into starting your own internet business you'll have seen websites claiming you can make "$$$" by doing very little work. There's a lot of hype out there and it's bound to make you feel cynical if you read enough. I'm certainly not making $$$ from this website (yet!), but I believe that internet businesses aren't that much different from any other business. You'll need a product or service that customers are prepared to pay for, a marketing strategy to tell people about it, some cash to invest to get you going, consistent planning and hard work. This week I've found a couple of thought-provoking posts if you're interested in running an internet business, but have doubts that it can really earn you money.   First up is  5 big internet business lies from hiremyparents.com and it's well worth a look. If you're feeling that it's impossible to get your information website noticed in the ocean of information out there, check out Diana Schiedman's Stand Up 8 Times blog post: The Internet and Online Marketing: Musings.

Start your business for less than £30

If you’re an aspiring mumpreneur, you might be wondering where on earth you’ll get the money to start your business.  True, there are some businesses that will always need a bank loan for a hundred thousand pounds, but it doesn’t have to be like that. Did you know…?

  • If you want to do some market research, Survey Monkey is a free tool that you can use to create an online questionnaire.
  • You can get a website with a shopping cart from Mr Site for £19.99 for your first year. No technical knowledge is needed because you use templates to create your site. (There are other similar sites, too).
  • Vistaprint do free or cheap business cards, postcards, fridge magnets, t-shirts, pens…..you name it, they can print it for you. (If you go for the free products, you’ll need to pay postage.)
  • If you need a simple website with perhaps a photo and some info about you, you can set one up in minutes for free at WordPress.com or Blogger.com
  • There are loads of websites that you can use to listen to and connect with potential customers for free, including Twitter, Facebook, BT Tradespace, EcademyLinkedIn and web forums where your target market get together. Check the rules for each, some allow business promotion and others don’t.

After a few months or so, you’ll probably want to find yourself a web designer, graphic designer or a printer that will give you more freedom and a less generic look.  By then you’ll have proved that your business has a market, found your first customers and hopefully earned yourself some cash.

It’s never been cheaper or easier to get a home business started. What are you waiting for?

Stuck for ideas?

If you want to browse a list of business ideas to see which ones grab you, take a look at Entrepreneur.com.  When I had no idea which business was right for me I found it helpful to look down this list and see how I felt about each one – hot, warm or cold!

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