5 sources of inspiration for starting a small business

5. Systematic research. Activities such as undertaking market research or attending business opportunity seminars sparked ideas for some. For example, you may be interested in a growth field such as green energy. To start a new business in the field, you could immerse yourself in data and information to discover what's needed or missing.

It's helpful to see where other entrepreneurs got their inspiration and where other successful entrepreneurs are now.

But that doesn't mean you have to limit yourself to their path. There are thousands of different kinds of businesses, products, and niches out there. Every industry in every sector has opportunities for entrepreneurs.

I like to think that a good business idea is like a parking space: It might be just around the corner, and it only takes one!

Where Planning Shop readers got their inspiration:

• 34% replicated or modified an idea from a previous work experience• 24% based their business on a hobby• 18% had an "Aha!" moment• 13% were inspired by someone else's work experience• 11% conducted systematic researchSource: The Planning Shop

Excerpted from What Business Should I Start?To purchase the full book visit www.planningshop.com. © 2009 by Rhonda Abrams

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