Where to Find a Business Idea: Tips from Jeffrey Fox
Opportunities for small businesses are everywhere — you just need to know where to look.
Below are practical and time-tested ways to find your next big idea.
🔍 1. Look in the Mirror
Start with yourself.
What are your talents, skills, or passions?
Your personal strengths may hold the seed of a profitable business idea.
👨👩👧 2. Consider Your Family Background
Is there an existing family business you could join, study, and later expand into your own venture?
Family enterprises often provide a strong foundation for learning and innovation.
🏢 3. Analyze the Company You Work For
Look for unmet needs where you work.
Are there markets your company overlooks or services it doesn’t offer?
These gaps might be your opportunity to create a new business.
💡 4. Revive Rejected or Unused Ideas
Sometimes, the ideas a company rejects are actually brilliant — just ahead of their time.
Revisit those forgotten concepts and see if you can turn them into a viable business.
📈 5. Explore Franchising Opportunities
Read franchise magazines or visit industry expos.
You might find a growing niche — like fitness centers for women over thirty.
Buying a franchise allows you to enter a proven market with less risk.
🌍 6. Serve a Specific Ethnic Market
Identify a rapidly growing community and offer products or services tailored to their needs.
For example, discover what goods are in demand among Dominican immigrants or other cultural groups.
Learn their language and become their trusted supplier.
🏥 7. Focus on Aging Populations
As people age, demand for healthcare and personal assistance increases.
Consider launching services for senior care, mobility, or wellness.
📺 8. Watch Educational TV Shows
Programs on renovation, gardening, and design can inspire innovative business ideas.
Ask yourself:
Is there a company that sells ready-made garden layouts online?
Could someone manage personal affairs for busy families or frequent travelers?
If not — maybe it’s your chance to create one.
💼 9. Buy the Company You Work For
If you deeply understand your employer’s business, consider a management buyout.
Use financing or partnerships to acquire it and lead it forward.
🏦 10. Buy an Existing Business
Brokers, auditors, and lawyers often know about companies for sale before the public does.
Evaluate these opportunities carefully — maybe you can run one better than its current owners.
✈️ 11. Observe While You Travel
Pay attention during trips.
Did you notice a business in another city that doesn’t exist where you live?
If there’s a demand, you can be the first to bring it to your area.
🧠 12. Revive Your Old Ideas
Remember those creative ideas or school projects you once had but never pursued?
Maybe it’s time to bring them to life.
Sometimes, the best business idea is the one you’ve been talking about for years.
Final Thought
The best business ideas often come from within — your skills, experiences, and curiosity.
Keep your eyes open, observe what’s missing around you, and act before someone else does.
