Business Idea Accidentally

Sometimes the great business idea comes to you accidentally. It is not the result of intellectual exercise. Rather it is a by-product of disappointment.

Have you been charged by a late video return? Well, when Reed Hasting got a whopping $40 late charge, he got inspired. He thought why video rental don't work like health club where members get charge a flat fee whether he use it or not. From this, Netflix.com, an online DVD rental service, was born. It has grown into big business offerring more than 15,000 titles to more than 1 million subscriber since 1997.

Learn What People Hate

So everytime you find out some sort of disappointment, you need to take a step back. Try not to be involved in the mishap. If you are emotional, your mind would be clutterred.

Now if you are cool, then you watch how this thing happens. What needs to be done to avoid this problem. And...yes... you got that opportunity.

Define your business as a solution to this common problem. Look for upside potential.

Research The Business

Also find out how you will operate your business in the interest of all stakeholders. If you seem to have a winning solution, it will be shining. You know you got a viable business proposition.

Then write the business plan. You would start getting real life data. Get figures, solid thinking into readable business plan. When it is done, it is easier to convince your stakeholders like other shareholder, lenders, etc. to join and support your business.