Many aspiring entrepreneurs may have the passion to strike off on their own, but they sometimes lack the business idea to make it happen. Most of the time they are trying too hard to find the “next Microsoft” or invent the “next iPod.”
Don’t over think of ideas for new businesses. The best ideas come from our work experiences, our hobbies, or our everyday lives. Find something from your experiences that is also a need for others. There may be competition, but they just do not quite take care of the need. Or if you are lucky, it may be a niche that nobody has discovered. Either way, solving everyday problems that you understand is the best path to your first business venture.