Business Opportunities Weblog

Look for Competition

By on October 8, 2005 in Uncategorized

Joseph DePalma:

I find a lot of people that have great ideas and concepts, but they throw them out because they do some research, and find a plethora of competition. That’s a big mistake.

If there weren’t competition in an industry, there wouldn’t be a market. So, when you’re thinking about ideas, DO NOT plan your business by looking at your competition. Plan your business by using your mind and your own resources. Think about what you and other people would want as customers of your new business and build from there.

Only after you have created your business from the ground up, avoiding the influence of what’s already there, THEN look towards the existing market; what can be improved, what could be added, etc.

planning

Business Opportunities Weblog editor and publisher Dane Carlson lives in the Sierra Nevada mountains of California, just 15 miles from Yosemite National Park. He accidentally became a professional blogger in 2001. He has added 12,198 posts to the site.

Another Idea: How to Start a Business Plan Consultant Business

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  • http://www.business-opportunities.biz/2005/10/07/the-two-beers-and-a-napkin-test/trackback/ Digichex

    That is some great advise. Also I think care should be given to what type of life style will you have in your new business venture. Since business owners typically spend more than there employed counterparts in the work place it stands to reason that a key factor in your decision making process is that you should derive satisfaction and even enjoyment at what you do. If you are going to spend the majority of your awaking life at something make sure it is something that you can not just live with but that it causes you enthusiam.

    Digichex
    Rick Zeien
    Founding Member

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