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Thursday, December 29, 2011

How to find New Small Business opportunities and Ideas in Nigeria

There are so many business ideas that are out there waiting for enterprising individuals to exploit and I can’t mention all of them because they are just too many to mention. But how to come across some of these ideas while they are still available is something I am only willing to share. We have to put on our thinking caps and keep our eyes open to find business ideas.

For the year 2012, a few places to look for business ideas include; studying the business model of other successful businesses, buying existing businesses, investing in a franchise, brainstorming, observing businesses among others.

Let’s start with studying business models. Imagine that you live in a particular place where there is high demand for apartments with a highly informed and internet savvy population. There is a potential for starting an online real estate agency. By studying other successful online real estate agencies and how they have achieved their results over time you get a number of business ideas that can really make a difference with your niche. This is one of the ways to find new business ideas in the year 2012.

Another way is by buying an existing business that isn’t really big but has some interesting potential that is worth exploring. Some businesses are run by people who are not very effective or are inexperienced, this offers an opportunity for business savvy people to buy those businesses and make them more profitable through improved management.

You might also consider investing in a franchise as well. Although franchises are common with retail businesses they however do exist in many industries and markets including manufacturing. So check around for franchise opportunities in 2012 they could be a viable source of business ventures.

Brainstorming questions have a powerful effect as well on finding new business concepts as well. Imagine a situation in which you can ask questions about ideas and opportunities in a very simple format and after say 20 minutes you are having more than 100 business ideas already. That is what brainstorming can do. It uncovers a lot of possibilities and ideas.

Sometimes a fantastic business idea might be staring you right in the face while are patronizing a business. Imagine (this is just an example) while at a queue in a fast food restaurant you notice that the restaurant is unable to manage customer orders effectively and this practice is widespread then you may have an opportunity. A little investigation of the idea might uncover an untapped opportunity.

So these are my suggestions on how to find some viable business ideas and opportunities that may be available in 2012.

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2 comments:

  1. For the year 2012, a few places to look for business ideas include; studying the business model of other successful businesses, buying existing businesses, investing in a franchise, brainstorming, observing businesses among others.





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  2. interesting piece..you won't know how much insight I've gained already. thanks.

    ReplyDelete