In this article you will find 6 tips from the British tycoon to learn how to find good business ideas and make them come true.
The British magnate and founder of the Virgin Group, Richard Branson, is one of the most internationally recognized entrepreneurs, not only for his business success but also for the way he began his career as an entrepreneur.
His life has been a great adventure, full of failures like all entrepreneurs, but at the same time full of victories that make it worth falling to learn.
Branson shared some of his tips for all people who are starting out in the world of entrepreneurship, when answering one of his readers’ questions.
Find below 6 of the tips that Richard Branson leaves in his Blog for new entrepreneurs who want to learn how to find a business idea
How to find good business ideas according to Richard Branson.
1. Think about what drives you.
If you want to find your business idea to turn it into a company, first think about those topics that are of your total interest. Is there a company that you like?
- Any market or industry that you are passionate about?
- Any special talent you have?
- Any cause you want to fight for?
Never start a business just because you think you are going to make a lot of money. If you’re not passionate about your idea, you won’t be willing to move mountains to get it off the ground.
Also read: Richard Branson shares his 10 favorite phrases to drive change
2. Start from where you live.
After you’ve decided on the area in which you’d like to start your own business, look right around you for what the market desperately needs.
- What products or services do you think can be improved?
Think about how your company can help the people around you, your neighbors and your city. From that point, you can perhaps expand into larger markets.
Also read: Nobody believed in his idea and today he is a young millionaire
3. Make it work.
When you develop your product or service remember that The purpose of a company is to improve people’s lives, it is to provide a service. With a little effort, when you have achieved that goal the money will come quickly.
4. Listen to the positive advice, eliminate the negative ones.
When you are starting out, you will surely have thousands of doubts and you will need experienced people to guide and advise you.
However, you must differentiate between discouraging comments and good advice. Most people will tell you that your business idea has no future or already exists. When I started, a considerable number of people told me that I would not succeed.
If you’re not that good at accepting criticism, it will help to learn why the effect of negative feedback lasts longer.
5. Stay focused and motivated.
You need to dream big and set yourself high goals, however for the first year focus on establishing your business and surviving. Keep your attention on the daily operations and numbers, set small goals on a regular, daily, monthly and yearly basis. Write down the results and analyze them, you will be surprised at the satisfaction you will find doing this task.
6. Love what you do.
No matter what type of company you want to establish, the important thing is that you are happy with what you do and have fun doing it. That has always been a priority for Virgin Group and is a vital component of success. I love what I do, my employees love what we do and for this reason our clients love what we do.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
