Everything starts with an idea. Sometimes it pops into your head on its own, spontaneously. Other times it stems from observing reality, seeing a problem that needs a solution. Whatever the genesis, it is the first stage of a process that culminates in the launch of your own business.
If you're just looking for a business idea, you'll find tips and inspiration here. And if you have a business idea but lack conviction about whether it's definitely that, you'll learn how to test the solution you come up with.
You may be familiar with a saying attributed to Confucius:
"Choose a job you love, and you won't overwork a single day."
While this is a slightly skewed thesis, it is hard to deny it at least in part the truth. Indeed, people for whom work is a passion are happier. And, perhaps just as importantly (we're talking, after all, about work - not hobbies), it has been proven that they are more likely to achieve professional (material) success.
This is due to several factors. First, a person who is fully engaged in his work does it better. Secondly, her attitude to action is positive which is also sensed subcutaneously by clients. There is no question of "working for punishment," which is unfortunately the case for many people, mainly full-time employees.
You can find examples of businesses based on hobbies or interests in social media or traditional media.
Usually if someone decides to start their own business, which is, for example, a restaurant, a diving school or a dance school, it is because of passion. There is no coincidence in the fact that the most recognizable dance schools in Poland are run (founded) by dancers or choreographers, and not, for example, economics or law graduates.
You may already have work experience in a particular industry. Then you don't need to try to make it a unique idea of your own. Take advantage of this experience and open a business in the industry you are in. Ideally, if you are able to optimize certain processes, offer customers a better product or service at an attractive price.
Digitalization/digitalization of offline businesses is also an interesting idea. Simply put, the idea is to transfer a business model that works well in the so-called "real world" to the Internet. A flagship example of such a business is an online store. Sometimes it's worth building a website to attract customers for services provided in a new area.
Another inspiration could be the skills you have. E.g., maybe you have exceptional manual skills that you can use in handicrafts. Or you know several foreign languages or only one, but an exotic one. All such skills create your competitive advantages for your business. You can create a business that takes into account the capabilities you possess.
Over the past 10 years, I've had the opportunity to explore several hundred business ideas. Most of them were never implemented, or these companies did not achieve the expected success. The reasons varied, but I noticed a pattern. Usually, the more original the service or product, the lower the chances of success. Most innovative startups fail very quickly as soon as the money runs out and the market does not positively accept the "new Facebook" or "new Uber" created with enthusiasm. The situation is different for "traditional businesses."
Many times we have created business plans for real estate developers or other companies using well-known business models. The most profitable business we worked on turned out to be the world's most ordinary sand sale. Not because the owner of the gravel plant was earning hundreds of millions of zlotys (he wasn't), but considering the relatively low financial outlay he had to make to open his business, the quick turnaround turned out to be several hundred times!
This, of course, does not mean that by inventing something completely new, you have no chance of success. However, as statistics show, success is more difficult to achieve. In addition to selling a service or product, you must first incur expenses to educate the market, i.e. familiarize it with your service - how it works and what its uniqueness is. This often requires additional expenditures. Keep this in mind when planning your business.
In the age of the Internet and globalization, it is becoming increasingly difficult to find unique business models to copy in the home backyard. Nevertheless, it is still possible. Especially since industries related to science or new technologies are developing very fast and Poland often lags behind the West or Asia.
The next time you are abroad, look around for solutions on the basis of which you can start a business in Poland. And if you are temporarily not going abroad - nothing lost. You can spend a few hours on the analysis conducted online. Knowledge of a foreign language will be helpful for this. For a cursory search, English should suffice.
Does it follow from the above statement that every dry cleaner owner loves to wash, and the owner of a kebab stall must have dreamed of it since childhood? Of course not! On the other hand, it is a proven fact that people who work in an area related to their passion are not only happier, but also more productive and more successful in business. Therefore, if your idea is related to your interests, this is the optimal scenario. Of course, this doesn't happen very often, and it shouldn't definitely discourage you from other industries.
A person who has his own business idea, but is not yet an experienced entrepreneur, is often afraid of losing the idea. In other words, he is afraid that if he tells a stranger about it, the stranger will steal the business idea. Before you require interviewees to sign a non-disclosure agreement (aka NDA), read this excerpt from the article.
Although you probably won't believe it, it's exactly like the headline. Why, some ideas come out and others don't? Usually, the fault or credit lies with the team that took on the implementation. Not in the idea itself. Unless we are talking about a really bad idea....
If you talk to investors or potential clients, they are unlikely to be interested in stealing your idea. Remember, too, that investors analyze dozens of different projects each month, and each of them, according to the originator, is groundbreaking.
To answer in the shortest terms - no, you can't. Business ideas do not enjoy legal protection. The other side of the coin is that nothing prevents you from opening a competitor to Facebook, uber or airbnb. In the eyes of the law, you can do it, as long as you name your business differently and don't impersonate other brands in any way.
You can benefit from legal protection if, for example, you create an invention (patent it with the Patent Office). Otherwise, you are left with entering into a "non-disclosure agreement" with everyone, i.e. the aforementioned NDA. However, as I mentioned, I advise against this. Remember, you're usually the one coming to others for investment or project evaluation, so requiring documents to be signed may be perceived as "out of place." And as an aside, if someone really wants to steal your idea then I'm afraid an NDA won't help much....
Protecting a business idea is a tricky subject. Unless your business idea is a developed cancer cure or some other objectively groundbreaking solution, you can feel reasonably safe. Sooner or later you will disclose your business anyway (e.g. in social media or some other space), so for people with enough capital there will theoretically be no obstacles to copying the solution.
Instead of protecting your idea, you'd better focus on making sure that the capital you bring to the company is worth more than the business idea itself. For example, it's good if you have previous managerial experience in managing people or projects. When you want to run your own business on your own, it's great to get training in areas where you are not competent. With the right know-how, you will also feel more at ease in protecting your idea.
In addition to financial contributions, which most budding entrepreneurs do not have, take care of substantive contributions. Assemble a team of professionals from different fields. E.g., if you're building a technology startup, you'll need programming people. When you don't have the money to pay them, instead you can, for example, offer them small stakes in the company. You can easily find shareholders on the Internet. Just check the relevant websites.
When a business idea pops into your head, you usually see only its positive sides. Such a state may last a few days or a few weeks. When you think seriously about putting it into practice then sooner or later it will come time to verify these optimistic assumptions.
It is best to verify your business assumptions as soon as possible. And the most effective method is to confront the market - potential customers. How to do it? Here are some suggestions and concrete examples.
It's a great idea to sell your product or service even before it's produced. You don't have to lie to your customers at all in this regard. You can say that the product or service is in the production stage, and if you don't collect enough orders, they will get a refund. As a rule, this is the most effective method, because it checks zero-one how much your customers actually want your service/product.
Another way is to survey potential customers. It is important not to ask your friends or family for their opinion, because they will 90% cases praise your business idea regardless of its real value.
If a similar service or product is already available on the market from your competitors, see what kind of interest they enjoy. It will be valuable to reach out to customer reviews and find weaknesses in these services/products that you will be able to eliminate.
The solution that will allow you to check both the competition, the market and calculate costs and potential revenues is to draw up a professional business plan. At the same time, it will allow you to plan your activities, you will know what to do step by step, instead of wandering in the dark. You can make such a document yourself or entrust it to professionals.
It's also worth consulting a more experienced expert. This could be a specialist in the industry, such as another entrepreneur or a business consultant who is familiar with building companies from the ground up.
It is often the case that while the costs of the business have succeeded in predicting correctly, revenues (customer interest) have been overestimated. What to do in such a situation? There are two solutions.
First, you can close the company - if it has been established at all. Many entrepreneurs artificially keep unprofitable projects alive. For emotional reasons, believing that suddenly a breakthrough will come. Actually, sometimes it happens, but first of all, very rarely, and secondly, it does not happen on its own, but as a result of specific actions of the entrepreneur.
The second possibility is the so-called "pivot", i.e. a change in the profile of the business. Usually the company remains in the same industry, but more or less modifies its offerings to become more tailored to customer expectations.
Business ideas are very different. Even the most exotic ones happen. As proof of these words, I will give you some examples of quite interesting, yet real businesses operating in the world.
Selling snow - sounds strange, doesn't it? On the other hand, haven't you ever found yourself buying ready-made ice cubes at the grocery store in case of an emergency? As you can see, such business models work too, and quite well.
Mourners for hire - you can hire mourners for your funeral. Strangers will lament loudly after your death (because of it). In some countries outside Europe, this business works.
Sending wilted flowers to your/your "ex", sending a short letter carved on a potato, similar, rather strange business ideas are plentiful in the world. Some do better, some do worse. However, as a rule, I do not recommend this type of business. This is because it's hard to judge blindly what the demand will be for, say, shipping wilted flowers or similar businesses. Probably low. If you already enter such topics then at the moment when they do not consume significant capital at the start.
When you want to operate on the Internet, you need to know a little bit about this space. Know what works how, how much it costs, what effects it has.
If you don't have a clue about this, and you want to set up a social network, mobile app or any other business based mainly on the online space, think three times. Of course, there is a chance of success, but statistically it is small.
And if the idea keeps you up at night and you still want to give it a try, try to get industry specialists in programming, Internet marketing, etc. to join your team.
In most cases, when you want to start your own business, you need to have some capital. Even when you plan to tutor students, this may require buying ads or the cost of printing and hanging ads in the area.
As long as the cost is up to 10 - 20 thousand zlotys, you are probably able to set aside such an amount. And carry out advertising at minimal cost, for example, using social media or friends (whisper marketing).
Unfortunately, most new ideas for your own business require a much larger financial contribution. For example, when you want to start production (other than your own handicrafts), you will need a place to work (such as a factory), a production line (equipment) or raw materials (semi-finished products).
Therefore, if you do not have an adequate contribution (at least an equity contribution under the subsidy or collateral for a loan) don't take on big ventures right away. It's better to start a smaller business first, which will give you adequate financial security, and only later plan for its big expansion. Minimize costs and risks when possible.
A business idea can apply to any area of life. We do not have full control over what just pops into our heads. However, in order to approach the subject head-on, it is necessary to think quickly about what chances we have of realizing the project.
When you can't create a website yourself, and the business is to be conducted mainly through it, it will be an additional challenge. This is a simple example. Of course, we can hire an external programmer or try ready-made solutions, but one - this is a cost already to start. And two - will we know how much such a website should realistically cost and who will make it with the right quality? It will be difficult.
The same is true for any market (industry). Right from the start, it is worth considering whether you have advantages. E.g. industry contacts, unique skills, easy access to customers, etc.
An entrepreneur is practically all the time at work. Vacations are a luxury during which it is often difficult to take your mind off the business you left behind anyway. That's just the way it is. What, then, is the headline about?
Well, the business ultimately cannot be based solely on your personal work. You can't make orders for clients, take care of sales, marketing, accounting, legal issues, etc.
Even if your business is based on a personal brand - which there is nothing wrong with - from day one, try to structure your processes so that you delegate work to others where possible. And focus on growing the business yourself, rather than taking care of everything else personally.
Finally, I have some "ready-made" ideas for you. Business ideas, selected by the fact that they do not require high start-up capital or other hard-to-reach resources.
Brokering is characterized by the fact that it requires neither capital nor other resources from you. What matters may be your network of contacts, but most importantly your sales skills. If you are an effective salesman, you can earn a lot of money very quickly. Practically regardless of the market (industry).
This point probably needs no further description. Let's use examples. In winter you do snow removal (e.g., parking lots or roofs). In the summer, you do garden work or so-called "de-snowing." For November 1, you prepare to trade candles or flowers. Before Valentine's Day or Women's Day, you stock up on flowers. There are plenty of such similar holidays and occasions throughout the year. It's a chance to make money thanks to the margin, which on that one day or for several days of the year is higher due to higher demand.
Running Adwords campaigns, SEO, etc. professionally is complicated and often requires months or years of practice. However, you don't need a lot of experience to offer a basic service in social media or building or maintaining (updating) websites. There are probably quite a few small businesses in your city that have done nothing in these areas so far, and you can offer them support.
Perhaps you are already an expert in a particular field and can start selling your knowledge (e.g. paid consulting). If not - see what specialists are currently in demand (e.g. programmers) and spend the next few months learning. With enough determination and commitment, in a year you may already be a specialist. Start with a one-person business, and over time hire other specialists, focusing on development and ongoing management.
10 years ago it was worth investing in bitcoins. 20 years ago, it was worth developing even simple businesses on the still fledgling Internet. And what awaits us in another 10 years? No one knows that on 100%, but you can try some predictions.
It is worth basing a business idea on an innovative technology like blockchain. There are many indications that it is the future of solutions in many fields. An example is so-called smart contracts, i.e. contracts whose performance by both parties is guaranteed.
Medicine is an extremely forward-looking industry. Business ideas in this field will also be in high demand in a few or a dozen years. An example of a Polish solution is a tablet that, when ingested, takes accurate pictures of the entire digestive system, thanks to which a cumbersome examination such as a gastroscopy may become a thing of the past.
Pro-environmental solutions are already being widely promoted in the European Union (including through subsidies). It can be predicted that in time similar trends will spread around the world. This is a broad market that includes energy transformation, recycling and other pro-environmental measures.
Regardless of the quality of your business idea, in any case it is worth checking its potential. Of course, it is best to first "on paper" without committing money unnecessarily.
Most people are able to come up with at least a few business ideas in the course of their lives. Whether they are implemented depends on a number of factors. These include:
Objective opportunities you are often able to change, by getting the right partners (investors or team members with complementary abilities). Persistence and consistency depend only on you. The life of an entrepreneur is not strewn with roses. To paraphrase Winston Churchill, it can be said that the only result that is certain is "blood, sweat and tears." However, few things are comparable to the satisfaction of building your own business that makes a profit.
Remember, one more thing. When analyzing a business idea, ask yourself an important question. Is it one of those ideas that can bring huge profits with relatively little effort, or is it the other way around. If your own business idea is going to involve mostly sacrifice, a lot of work and financial outlay, and the amount of potential profit doesn't "knock you out" too much, maybe it's better to let it go this time.
In 2008, I came up with a business idea. Namely, the idea was to gather a group of influencers (back then they were rather called trendsetters) in Warsaw high schools and promote local businesses and bigger brands through them.
Now it is nothing innovative, in 2009 it was. We are talking about the time before Instagram and the very fledgling Facebook in Poland.
Within two months, my then-partner and I assembled a group of dozens of opinion leaders. They signed contracts with us, agreeing to work for us in exchange for discounts in interesting places, goodies from our clients, etc. In typical barter fashion, we didn't have to pay them a salary in cash.
We also gathered some interesting partners for the launch. Among them, the most famous adidas boutique and sportswear (youth) in Warsaw at the time, popular cafes or nightclubs available only there. They offered our trendsetters high discounts or, as in the case of the nightclub, VIP cards (entry without queue to events, etc.).
Example partners acquired in the first month of operations (2009):
Unfortunately, we have not been able to get big brands to cooperate with us. Among other things, we tried with manufacturers of energy drinks, candy bars and many other companies. We shot our own advertising (sales) videos, tried to pitch the business idea to decision-makers through private contacts, did really a lot.... Nevertheless, it didn't work out.
We decided to change the business model. We proposed to large research houses to conduct research panels, that is, surveys using trendsetters. This was based on the assumption that if they like a product, their entire age group is likely to buy it too - because, after all, they are opinion leaders in the community.
We went to all the research houses in Poland. They found the idea interesting, but in the end, no one decided to cooperate. And after a year or so of trying, we ran out of money. The business had to be closed - to the displeasure of our influencers as well 🙂
As it turned out a few years later, the business idea itself was great. A year after the company closed, I read a news item about research houses using "innovative" research on popular teenagers. In turn, a few years later, Instagram exploded and the first influencers appeared, many of whom are now millionaires. There were also companies that, like we did before, bring influencers together and offer their work to big brands. What, then, didn't work in our case...?
For the past 10 years, as a Well Done Business, we have written more than 200 business plans "for our own business" for our clients. We have seen almost everything. From repetitive and popular ventures such as a real estate development company or a restaurant, to original Internet startups or cities of the future.
If you are looking for substantive support in planning your business, evaluating your business idea or obtaining financing, write to us. We will be happy to review your project and advise you on what actions are worth taking, taking into account your individual situation. Regardless of what services you want to provide or at what stage of development your company is.
