TRUTH 6 The most common sources of new business ideas
In my experience, promising new business ideas emerge from three sources: changing environmental trends, unsolved problems, and gaps in the marketplace. Select an idea that fits one of these sources. Even though you may be passionate about a particular idea or it may be a perfect fit with your skills, it still has to be an idea that people need and are willing to buy.
Changing environmental trends
The first source of business ideas is changing environmental trends. The most essential trends are economic trends, social trends, technological advances, and political action and regulatory changes. Changes in these areas often provide the impetus for new business ideas. For example, ...
