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Now you’ve had that light bulb moment and a great idea has come to your mind. Before you get too carried away, do (a lot of) research and find if this idea is the right one for you. Rarely are any ideas completely innovative and often you will find someone already doing something similar internationally or even locally. Most likely, the initial idea you have in mind will keep adapting as you do research and figure out your business model. If you are very experienced and you know your industry inside out, the ideation process can be much faster – you will probably know exactly what you need to do and how!
But what if you don’t have an idea but you definitely know you want to be an entrepreneur? There are many ways to come up with great ideas. Check out this presentation .
Think about what problems and pain points are out there. What do customers in Guernsey, UK, around the world need and cannot find? Think about your passion and deliver a great product/service to a specific audience. Maybe this is something you have done as a hobby or an area you have trained and worked in that you feel you could do yourself.
It maybe you have a talent in a particular field that makes you the go to person for anyone wanting your skills. Perhaps you have an excellent reputation in your field and you want to reap the rewards of all those years of training. There is also nothing wrong in doing something that already exists in Guernsey but you need to be confident you can carve a niche in the market or expand the market to get your own customers through delivering a better product.
Of course it’s ideal if you have the skills and knowledge and you fall into the demographic of your potential customers and can relate to the solution.