A good business idea needs to be a sound corporate solution that means that it is profitable. This is essential. All good business ideas need two things. A supply and a market. If no one will use it or consume it or no one can make it or supply it, it is a bad business idea. It really is that simple.
Another consideration is what your technical limitations are. Friends and family will tell you are capable of anything. They will even come up with business ideas for you. However, since you will be the one to do all the hard work to make it possible, the important issue is to be realistic and only consider the business ideas that you would be capable of turning into reality. This does not mean you should not be adventurous. The best business ideas are original and sometimes may seem a little bizarre at first. Do not dismiss all business ideas without consideration but be aware of financial and logistical restrictions.
Let us look at the worst possible scenario. You have no qualifications or identifiable skills, no money and just a lap top computer and printer. You have just lost your job and cannot get another one. What is the best business idea for you?
You can read this so we can assume you are not illiterate. Believe it or not, there are still parts of the world where this is considered a skill. You do not need to be able to touch type to be a writer. Speed will come with practice. Already we have the seeds of a business idea.
Setting up a business that offers a service is always a good idea. Always be sure you have the skills required. For example, do not set up a mobile hairstyling service if you have never cut hair before!
If you are good at purchasing or sales then you should look at product marketing or sourcing hard to get items. Look on the Internet and see what people are looking for. Good business ideas often come from a personal need for an item or service.
Another place to get good business ideas from is your local paper or community magazine. Look in the classified advertisements. Regularly, people place advertisments looking for dog walkers, handymen, gardeners or cleaners. Can you start a business around the demand.
Many people, find that buying a franchise is the best way to get into business. Have a look around. There are some excellent franchises available and often they are excellent proven business models. Do investigate the company and take the time to perform a little market research before you buy a franchise. Treat it like any other business idea. With the statistics of new business failure so high, you need to be sure that your idea will work before you invest.