Showing posts with the label Money & Business

The Idea is the Easy Part

Most people are of the belief that coming up with an idea is hard. “If only I could think of an idea, I’d be able to create a business”, they say. They also try and think too big. They hold out for that “killer app” or world changing concept. The next Facebook. But business ideas don’t have to be that ambitious. And they certainly don’t have to be that difficult to come up with. All you need is this simple formula. Idea = Niche + Need Find a niche, find a need. It really is that simple. But let’s dig into it some more. Find a Niche A niche is a small area of interest. A specific area of the market for people with a specific interest. Finding a niche is a balance between finding a market small enough to be focused but large enough to be worthwhile. Finding the right niche can be difficult in itself, but it can be made easier by following what interests you. This is actually incredibly important. Focusing on an area that you’re passionate about will both inspire you and keep you involved

Improve Your Business Processes

Simplicity If you simplify every job that you, or your employees do, you will not only save time,  but there will be less scope for mistakes. There is also the added bonus of being able to document your procedures more easily, which helps with training and also with obtaining industry standards such as ISO 9000 etc. Look in detail at how you perform each task. There will be many attributes to the task that could be streamlined. Reduce the reliance on other people. Shorten distances travelled if possible. Break the task down, perhaps it can be done more effectively if you perform one part of it many times, then another part many times, in a similar way to an assembly line. As a manufacturing metaphor, if you are building a car, it might simplify processes if the car was designed from the beginning with the assembly process in mind. Allow for parts to be slotted in easily, click together, and be easily accessible. In other jobs, think about how you can simplify development of how things