I have a business idea, what next?

I want to start my own business! What next?


Step 1: Most people think that the whole process of starting a business is a big mystery, that they must be the one to think of something completely new – in many cases a good business idea is simply one which does something common and everyday but BETTER.

Step 2: Ask yourself the following questions;
- How can I improve on something that already exists?
- Who else is doing it?
- Can I do it different and better than them?
- What is the competition locally?

E.g. you have an idea to set up a nail bar in some part of Leitrim? Who else is already doing this or is there room for another nail bar? If there is one already in existence, is there any problems with their product not lasting, chipping, and being expensive? Can you do it better, cheaper and with longer lasting results while still making money?

Step3: Identify what you are good at?

Things I’m good at   Things I don’t think I’m good at 

- List 5 things you are good at or love to do personally not through work... love meeting people, like chatting to older people, love animals, love working with computers, am quick at maths etc

- List 5 things you don’t think you’re good at ...don’t like public speaking, prefer not to be around children or animals, prefer working alone to meeting people..

Step 4: List 3-5 products/services which would make your life better as a parent, partner, brother, sister, grandparent, man/woman? What would make your life easier/give you more time?

  1. .....
  2. .....
  3. .....

Step 5: What do you like and dislike about your work life?​

What do I like about my work?   What do I not like about my work?  


Step 6: What traits do people like or not like about me in my work?

Traits people like at me in my work?  Traits people don’t like about me in my work?  


Step 7: Why do I want to start my own business?

Finally....Is there any patterns emerging for a business idea doing something you like, would make your life easier or something people think you’re good at?