Last week, I published an article on Factors to Consider Before Starting a Side Hustle. A business idea was the first factor I shared that you should consider before embarking in any activity.
A business idea is a concept that can be used for financial gain that is usually centred on a product or service that can be offered for money. An idea is the base of the pyramid when it comes to the business as a whole. Therefore, before any business is able to earn money; an idea is at the core and the idea should be mainly focused at solving a problem for someone or adding value to someone for exchange for money.
Characteristics of a Promising Business Idea
- Innovative
- Unique
- Problem-solving
- Profitable
I promised to share with you tips of identifying business opportunities or generate ideas for business ideas; in today’s article, I will share with you one of the methods to use.
Skills-Based Business Ideas
One of the methods used in generating business ideas is the skills-based method.
People in full-time employment possess technical skills or professional expertise that could be used for their side hustle business.
EXERCISE: Get Your Hands Dirty
- List at least two technical skills or professional expertise that you possess.
- State at least two kinds of businesses you can start that are based on your technical skills or professional expertise.
EXAMPLES: Inspiration
- If one has writing skills, he or she may publish a book for sale OR write articles for sale to magazines.
- If one has teaching or presentation skills, he or she may offer to teach services after work or become a resource person for seminars, workshops or conferences.
This week I’ll be sharing more methods, be sure to come back everyday. Share a method and feel free to ask any question that you may have in the comment section.
