The genesis of a new entrepreneurial venture comes from one of two sources. Either the entrepreneur has a great idea, and decides to create a business from it, or wants to start a business and needs an idea.
If the latter, the question becomes one of how to pick the business to create. Most often, a successful business arises from the passion of the creator. Consequently, if you examine those things in your life in which you are interested, you may come upon the idea for your new venture. You typically have a lot of knowledge and expertise about those things, from which it’s easier to figure out the problems that need to be solved in that particular arena.
After all, the most successful entrepreneurs today do not create products, nor do they trade time for money. Instead, they take their ideas about how to solve problems and leverage them into profits.
And don’t worry if what interests you is a bit offbeat or a seemingly slender niche. If you collect vintage bottle caps from pre-World War II soda brands, there may still be a business idea in this hobby. With 7 billion humans alive on the planet, and a significant percentage of them having access to the Internet, having a business that appeals to .00001% of the planet’s population may make you stinking rich. Or at least quite happy!