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Start a business begin with these important steps.
If you have been affected by the economic swings of the past few years, this may be a good time to consider starting that small business you've always dreamed of.

Always be on the look out for ideas, they come from anywhere. They have come from being an unhappy customer and making a business model better. What problems need to be solved, think about a new innovation, an opportunity or a unique idea in an existing market.

All products and services solve problems and for every problem there are many solutions. The best solutions to problems come after looking at many ideas if fact, the more ways you can solve a problem the better.

But what does the market need or want? Do you notice trends in what people are buying or how and where they are buying the things they need and want?

Determining the marketability of your start up business is done in the context of creating a business plan and performing an analysis of your competition. It requires research you may not have done or even considered doing. Here are the areas that need to be explored:

Gateway Community College, Small Business Center.

• Does the business offer a new solution to an old problem or complement an emerging trend. Untapped markets that are profitable are few and far between and are also riskier.
• Do you know who the target market is? These are people and other companies that are likely to want or need what your business has to offer.
• Understand the benefits that your product or service offers. How much money might the customer save by buying from your company instead of the competitor? Knowing the benefits will help you generate ideas for future promotions.
• Know the industry data that can confirm whether there is a growing demand for your product or service. Keep in mind that this data is sales driven. Are you aware that you can get the industry data from the trade associations and government agencies?
• Identify the percentage of market share that is realistic. Are there enough customers interested in the product or service and how will you compete with the existing businesses, what makes your business unique or different?
• Consider how realistic your pricing is. How can you present your products or services to potential customers so that it appears to be a good value while still affording you a healthy profit?