Do you dream of being your own boss? If you want to start your own business, it is important to have enough passion, ambition, entrepreneurial talent and a good idea. Would you like to become self-employed, but are you still looking for an idea for your business? Partena Professional explains where to find inspiration and what steps to take to start your own business. If you are passionate about how to start a business with no ideas, Then read the article.
Ideas for a business
The key to success is a good idea, but what if you don’t yet have a clear idea of the business you want to start? Don’t panic, if the idea for your business isn’t immediately obvious, look for inspiration around you.
Follow the news
I want to start a business but I don’t know what to do.
Want to be creative? Flanders DC is full of new business ideas and its blog is a wealth of interviews with creative entrepreneurs tips and articles on current trends. Unless you prefer to change course? Whatever industry you choose, it’s important to keep up-to-date with the industry you’re most passionate about.
Every day, a veritable treasure of information is shared on social media and in the news. This will give you a good overview of the industry, what is happening there, and what people are interested in. Make sure you are up to date so that your idea is sufficiently aligned with its target audience.
Newspaper and magazine articles (online), TV and radio programs, social media or specific newsletters may just happen to reveal to you the ideal niche in the market.
Have a good knowledge of yourself
It’s not only important to know the demand, but also what you like to do. What are your talents? Do you like to work alone and want to start your business from your own home? Or do you thrive when you meet many people in one day?
Are you unable to choose between your strengths or have you yet to discover them? There are many tools that can help you do this, such as those from our partner HunchUp. The VDAB offers various tests to assess your intelligence, personality and skills. Perhaps you will learn new things about yourself there.
You can also ask yourself the following questions:
- What business do I love and have a market for, but I’m not good at?
There may be a course or training that can improve your skills in this activity.
- What is the business I’m good at that has a market, but I don’t like doing?
Try to figure out how you can make it enjoyable, but don’t force yourself. If you don’t like doing something, your idea is unlikely to lead to a successful business.
- What is the activity that I like and where I am good, but for which there is no demand?
Study your idea and who knows? maybe you will be inspired by other people. There may still be a market, but people don’t know it yet.
Expand your knowledge to start a business
For a freelance, it is essential to constantly enrich his knowledge, especially if you are still in search of an idea for your business. A course or training will teach you everything you need to know about the latest developments in the industry and allow you to find out straight away if this is really your cup of tea. Make sure to gather knowledge about small business problems and solutions.
Another way to learn more is to travel. You must go to business trips to mark your success. Leave the beaten track and go on an adventure. Perhaps you will meet people who think like you, or you will be confronted with a concept or a project that will influence your thinking.
Take over a business
Maybe you don’t want to start from scratch, but you’d rather take over a business. The acquisition of a company has various advantages: you have immediately a market, your company is already known, But perhaps there is also debts or staff? If you want to start with a cover, get some good support.
Find a company in your region and in the sector that inspires you the most. Perhaps you will find a good idea for your business there?
How viable is your business idea?
Before starting to establish your business plan, it is best to test your idea for your business in order to come up with a strong concept or avoid bad business practices. Check if your idea already exists and if so, how you can improve it. You can also take the test around you and see how people react to your idea. Is your concept clear and does it hold up? Or does it raise more questions than it provides solutions?
After a series of personal tests, you will be able to submit your idea to various bodies such as:
- Flanders DC: a single point of contact for entrepreneurs in the creative sector
- Bryo: a project of the Flemish Business Network (Voka) for entrepreneurs aged 18 to 36
- Innovatiecentrum: the 5 “Innovatiecentra” in Flanders offer both beginners and well-established entrepreneurs free individual support for their innovation project
Also think about the consequences for your personal situation and that of those close to you. Do you have enough income to support your family at the time of launch? How much time do you want and can you devote to it? Are you going to start with a few hours a week, a part-time or directly a full-time? Are you going to take the plunge alone or work with someone?
You are not alone. Seek the advice of professional advisers and those around you in good time.
From idea to business
As soon as your concept is ready, it’s time to take action. Have you found the perfect niche? So you better protect your idea. Otherwise, anyone can exploit it.
Whatever your idea, a business plan is essential. Can you start your business with no money or with a few minor investments? Or should you go looking for additional capital? A financial plan will give you a better idea of the costs and investments required, and will help you convince the bank, investors and public authorities. Do all this work in your business hours.
To start your business, you must also complete a few basic formalities to avoid poor business practices:
- register your business with the Banque-Carrefour des Enterprises (BCE)
- request your VAT number
- register with a social insurance fund, such as Compass by Partena Professional