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BIZEMPIRE
(South Africa)

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Helping you start and build your small business empire

Business idea FAQ

Frequently asked questions about business ideas

Q - I have an idea for a  product that everyone needs. How do I start?

Q - I have an idea and need financing for my business, but don’t want to send out my business plan in case someone steals my idea.

Q - I want to start a business but don’t know where to find a product or service which I can supply or provide.

 

Q - I have an idea for a  product that everyone needs. How do I start?

A - We have two issues with this question. Firstly it is highly unlikely that everyone will need or even want your product and even if this was so, to provide this product or service to 6 billion people would in all likelihood cost billions. You’re asking at the wrong website as you’re not looking at starting a small business. Take a reality check and rather focus on a more specific target market such as the adults in my suburb or the businesses along Main road for example. You also need to be more honest with yourself and identify what type of people are really going to be prepared to pay for your product or service. Secondly, the “how do I start” question is way to general. Most of our site is designed to answer that question. Take a look at the basics of start up and then get back to us with a more specific question.

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Q - I have an idea and need financing for my business, but don’t want to send out my business plan in case someone steals my idea.

A - A good idea is always helpful, but the reality of running a small business is that a lot of hard work, some luck and a little brain work is required for success. The idea itself is just a small portion of the success cocktail. We have yet to hear of an idea which makes money on its own without any work being put in behind it. The financial institutions to whom you may give your business plans are too busy with their own business to worry about going through the hassle of starting a business after stealing your idea. In any event, if your business does become successful someone is going to try and copy your formula anyway. You just have to keep on trying to be better than them. You do have the option of patenting your product, but this can be an expensive option and not all countries will honour your patent (eg China). There are however certain products where a patent can be useful and protect your idea. If you have the money to go this route, then by all means go ahead.

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Q - I want to start a business but don’t know where to find a product or service which I can supply or provide.

A - Most businesses exist because they are solving a problem for someone who is prepared to pay them for it. Eg: MacDonalds solves your hunger problem with the added bonus of being convenient and quick, Holiday Inn solves your problem of needing shelter for the night and so on. Our first suggestion is to try and find problems that your friends, colleagues, family, neighbourhood or community are having and see if you can provide a solution for that. It is always an advantage if you have certain skills or knowledge that can help towards solving these problems. Secondly, figure out several things that you enjoy doing and see if there is anyway that you can turn one of them into a profitable business. Often hobbies result in small businesses developing. Thirdly, spend time on the internet looking for business ideas that other people are using. Watch out for get-rich-quick schemes and other improbable ventures. Try and find something that interests you and in which you have a fair amount of knowledge. Finally, if all else fails, simply copy a successful business near your area. Perhaps you could be successful along similar lines. Be careful not to infringe on any trademarks, copyrights or patents though.

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The subject matter dealt with on this site is of a general nature only. It is always advisable to consult a professional for your specific situation. All information provided on this site has been carefully chosen and is to the best of our knowledge correct and current. If however you find errors, broken links or disagree with facts provided, please contact us at webmaster1@bizempire.co.za so that we can make the correction and provide South African business owners with relevant and error free factual information. If you believe there is relevant content missing and you wish to add this value to the site, then you can contact us at the same address

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