Always a market for new business

Posted on March 03, 2011 by lindsey back, One of Thousands of Entrepreneurship Coaches on Noomii.

Always a market for new business

Lying on the beach in Hawaii (Waikiki to be exact) got my mind racing about so many business ideas. I am only 3 days into my vacation and I’m realizing that there is a market for anything and everything…you just have to create it.

My Grandma made me laugh when she said “they’re selling parties down the street!” referring to a few guys making their living leading pub crawls around Waikiki. She was absolutely right. They were selling parties and they’ve been doing it for 27 years. What recession I ask? I don’t see any impact on the hustle and bustle of the busy high-end shopping stores lining the streets of Waikiki. Only opportunity to offer something to the thousands of people visiting.

Another thing…whether you have some or many compeitors, remember that a personality and the individual behind a business will often be the selling point. Be bold, courageous and confident & go forward with an idea. If it leads to no profits, but you’ve given it all you got, call it complete and move forward. The only failure in business will only ever be the failure to take action.

Onto the quick business tips that this brought to mind:

1) write down your idea
2) decide what means you’ll use to “sell” your product (online, salesmen, billboards, etc)
3) research your competitors (or potential competitors)
4) determine your price
5) get moving!!

I don’t care if you have to share a majority of profits with your sales people to get this thing off the ground, just do it. Also, even if you only get a portion of the market, you’re doing good.

Another realization I had…sales people know how to sell. Give someone a job who knows what they’re doing. If that is not your specialty, find the right people and get them in place. Have a plan and create a way to measure results.

Happy business building!!