Part 1: Coming Up With a Unique Business Idea

Everyone has something they like to do and that they do well. And most people wonder how they can make money doing what they enjoy. They are often discouraged because it seems there aren't very many opportunities in whatever area they are interested in. Or they think because their academic and career backgrounds are in a certain field, they have to stay in that particular field. As an example, let's say you enjoy fashion, but you went to school for marketing. One day, while flipping through your latest stack of fashion magazines, you think to yourself, "I wish I could have a career in the fashion industry. Not only could I do something I enjoy, I could make money doing it. Too bad my training is in the wrong area." Well, maybe you shouldn't quit your job tomorrow, move to and start your own design firm. But you shouldn't give up on your dreams, either, because you can turn your passion into a successful online business with a little imagination and a lot of dedication. After all, if you're going to start an online business, which means that people all over the world will be accessing your business web site, then you've got to be a mover and a shaker. You've got to stick to your plan and develop an online presence. It's pretty much guaranteed that whatever your interest is, there are other people who share your love for it. For instance, did you know that if you enjoy basket weaving, there are associations and other people out there who do, too? Or maybe you like ballroom dancing or mating frogs, well there are people who like to do that, too. My point is, you can start a business doing anything that you like to do and they will come. But the first thing that you have to do is determine what type of business you might like to start.

You basically have to find a niche market within a big and growing market. If you don't think there'll be any competition, think again. We're talking about the worldwide web here, not your local operation. There could be a guy in who, out of pure boredom and loneliness, taught his dog to read and is now marketing a line of books specifically designed for literate animals. OK, maybe that's a little far fetched, but the point is that there are so many web sites and online businesses out there, the chances of coming up with an idea that no one else has already made into their own business are very, very slim. Therefore, it is extremely important to come up with something that sets your business apart from the competition. Back to the fashion example. As someone who loves fashion, you realize how many retail businesses there are that sell clothing. There are hundreds of different stores in the alone, not to mention the thousands of clothing lines all over the world. How does a place that sells clothing like, say, Saks 5th Avenue set itself apart from a store such as Bloomingdale's? They are both high-end establishments that sell quality designer clothing. But what makes one-person shop at Saks instead of Bloomies? In fact, how does either store ever make any money when there is such tight competition out there? Each one has something unique about it that makes it stand out from the other and, in fact, from the rest of its competitors. What can you do to set yourself apart? Is it a catchy motto, an attitude, a unique way of promoting your business? Whatever it is, that's what you need to find and exploit every chance you get. Which brings us to the highly anticipated and much talked about business planning and marketing section.