Make a List and Check it Twice

Make a list of the businesses you could consider, eliminating only those that are obviously not for you. Rule out ones that require talents and skills you received low scores on in Step 1 and ones in which you have no interest. Then, gather information and evaluate your idea against other possibilities. You might try one or more of the following sources for information:

  • The Yellow Pages can indicate what products and services are and are not available in your area.
  • Public libraries have a number of business directories, including the Thomas Register, that offer a wealth of information on products.
  • Searching the Internet can help you find and refine your idea.
  • Entrepreneurial magazines often publish articles about new business ideas that have potential.
  • Ask friends, coworkers, neighbors, and relatives if they have product or service needs not currently being met in your community or region.

After collecting this additional information and reconsidering your list, narrow the possibilities.