Idea Generation
The first step in setting up your own business is to generate ideas!
How to Come Up with a Business Idea
Starting a business begins with a spark…an idea! But how do you find one?
Explore Everyday Problems
Think about things that frustrate you or others. Could you solve them with a product or service?
Example: Struggling to find affordable, healthy snacks at college? Maybe there's a gap for a student-run snack box service.
Improve What Already Exists
Look at businesses you admire. Could you do something similar but better, cheaper, or more locally?
Example: A local dog-walking service that uses an app to track walks and send updates to owners.
Use the “SCAMPER” Technique
SCAMPER helps you think creatively:
Substitute – What can you replace?
Combine – What ideas can you merge?
Adapt – What can you tweak?
Modify – What can you change?
Put to another use – Can it serve a new purpose?
Eliminate – What can you remove?
Reverse – What can you do the opposite way?
Ask Around
Talk to friends, family, and tutors. What do they wish existed? What do they spend money on?
Understanding Yourself
Knowing yourself is key to building a business that lasts.
What Are You Passionate About?
Think about what excites you:
Hobbies (gaming, fashion, fitness)
Causes (sustainability, mental health)
Interests (tech, design, food)
What Skills Do You Have?
Make a list of your strengths:
Are you good at organising, creating, fixing, selling, coding, or communicating?
Have you learned skills through school, part-time jobs, or volunteering?
Example: If you're great at social media, you could offer content creation for local businesses.
Spotting Market Gaps
A market gap is a need that isn’t being met. Ask:
What’s missing in your area?
What do people complain about?
What trends are growing (e.g., eco-friendly products, digital services)?
Use tools like:
Google Trends
TikTok or Instagram to spot emerging ideas
Talking to potential customers