(NC) If your goal is to open your own business venture, but you are lacking ideas for a brilliant market game-changer, remember that there are a lot of factors to consider when coming up with a great one. Should the business be in the technology field? Should it be a retail establishment, a service-based or an online business?
There are so many options and so many products and services available in today’s market that it can be difficult to decide which type of business you are best suited to create.
You can start the process by looking to your own customer experiences and creating solutions to a problem you have experienced first-hand. Do you know of an existing product that could be improved? Can you think of a way to improve a process or activity you are familiar with?
Using a common problem as inspiration could lead you to have an “aha!” moment that leads you to a new business idea. Make sure that you do your market research to see if other people have this same problem and would be willing to pay for a solution.
There are government services that can help you along the way. Visit canadabusiness.ca or call Canada Business Ontario at 1-888-576-4444 to speak with a business information officer in English or French. They are available weekdays between 8:30 a.m. and 5:00 p.m.
Canada Business Ontario is part of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). For further information on FedDev Ontario programming and services for southern Ontario, please visit www.FedDevOntario.gc.ca, email us at firstname.lastname@example.org or call toll free at 1-866-593-5505.