Business Brainstorming Pt 5

This post was written by Tony-Online on February 27, 2010
Posted Under: Uncategorized

Now that you have had the opportunity to go through the previous four parts of the blog on how to Brainstorm a business it is time to summarize this process.

1.    You must go through an activity of coming up with possible businesses you would be interested in operating.
2.    You are going to do this in one session and proceed all the way through this process to the end without stopping.
3.    Each idea must be put down on paper, an easel is great but you can also use pieces of letter sized paper and tape them up on the wall where you can see them.
4.    If you find yourself having trouble coming up with 8 to 12 ideas, enlist the help of your family or your friends to add to your list.
5.    Write down all ideas. No idea can be dismissed during the first part of the exercise. A silly idea might turn out to be inspiration for a much better one. An impractical idea may become one that you can see yourself working on as more information is reviewed.
6.    Once you have come up with 8 to 12 ideas, it’s time to examine the pros and cons of each one.
7.    Begin with the first idea you have written down and evaluate the good and bad about choosing it as a business – write down your list of pros and cons on a separate sheet so that you can refer back to these later.
8.    If you have prepared your list of ideas with the help of family or friends, have them seriously participate in identifying the pros and cons.
9.    Examine your list of ideas one by one. If any other ideas occur to you during this exercise, add them to your list of ideas.
10.    Once you have completed this brainstorming exercise, there is a good chance that you have identified a business you are interested in, a subject you know something about, or an area that you have experience in.
11.    Next, you will proceed to check this business out on Google to get a good idea of what the market is and who is competing.

More next week.

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