Looking for business ideas? Use your own experience

May 1, 2017 - Tags: Startup

Thinking of starting a business can seem overwhelming when you are not sure what type you should start. Should the business be in the technology field? A retail establishment, service based, or an online business? Are you aiming to be socially responsible? There are so many options in today's market and so many products and services available (which are constantly changing) that it can be difficult to decide which type of business is the best fit for you.

Finding a business idea can start by looking to your own customer experiences and creating solutions to a problem that you have personally experienced in the marketplace. Do you know of an existing product that could be improved? When you are doing something you are passionate about and you encounter a problem, do you think there must be a better way of doing this?

Here are some examples of ways you could draw on some of your personal experiences to get you thinking about potential business ideas and opportunities:

  • Didn't like your experience with a local dog kennel? Why not start your own and make the improvement you would have wanted to see at the old kennel? By offering something different that sets your business apart (food, accommodations, grooming services, etc.) you could reach clients who have experienced a similar problem with their kennel.
  • Passionate about knitting? A knitting store already exists in your area. So how do you offer something unique? You often hear about beginners having “oops” moments and who could use a helping hand to get their knitting back on track. Why not try to solve this problem with a service that comes to their door? Take the opportunity to use your knowledge and love of knitting to solve a problem experienced by new knitters.
  • Are you an inventor at heart? Do you often think of improvements that you could make to an existing product? Do you want to create something new to address a deficiency in the market? These ideas may lead to a new business opportunity or a chance to start a business partnership.

Using problems that you see around you could lead you to have an “aha” moment where you realize that you could start a business with this idea. Make sure that you do your market research to see if other people have this same problem and would be willing to pay for the solution.

Finding the right type of business to start can be daunting. Take a look around to find a solution to a problem you have experienced or something you found you needed and could not find. Thinking about business ideas this way may just spark your first or next business venture.


Comments

Posted by getfranchise on July 14, 2017
Thanks for sharing.
Posted by Canada.ca on May 24, 2017
Hello Arthur,

Thank you for contacting Canada Business. We are always happy to help you with questions about starting or growing your business in Canada.

Statistics Canada offers summary tables that provide an overview of statistical information on a variety of resources and subjects. The Amusement and recreation, summary statistics page includes data for skiing facilities at the federal level. You can also browse tables by province or territory, including a list of tables for Nova Scotia.

You can also get an idea of the financial performance of skiing facilities in Canada at http://www.ic.gc.ca/app/sme-pme/bnchmrkngtl/rprt-flw.pub?execution=e1s1. Note that the information for Nova Scotia is supressed for confidentiality purposes due to the low number of facilities. You could contact the facilities themselves to try and get answers.

For more information, you may ask to speak with a Business Development Officer at the Canada Business Network centre in Nova Scotia. They may be able to suggest other resources that can help you track down this kind of data for businesses in the province if it is publicly available, or to put you in touch with an industry association that could help.

Note that you can find information on our website that can help you prepare your sales pitch to these facilities. For example, Is your elevator pitch ready.

If you have further questions about starting or growing your business in Canada, please contact us for assistance.

Good luck with your next steps.
Posted by Arthur on May 22, 2017
I would like to know how much each of the ski resorts in Nova Scotia spend Monthly for electricity for November, December, January, February, and March each year. I have a snow making product that may reduce this dramatically.
Posted by Canada.ca on May 19, 2017
Hello Neo,

Thank you for contacting Canada Business. We are always happy to help you with questions about starting or growing your business in Canada.

The Canadian Company Capabilities database and the Canadian Importers Database provide lists of Canadian companies that might be interested in buying or importing your product.

You may also be interested in our sections on environmental regulations and other business regulations.

If you have further questions about starting or growing your business in Canada, please contact us for assistance.

Thank you and good luck with your next steps.
Posted by Neo on May 19, 2017
Thanks for the note, we look for be a supplier of plastic bags for retail stores, we know Canada take care of environment and has regulations and campaigns to avoid the use of plastic bags. We know the supermarkets, convenience stores and retail ones still use it, And we have a ecologic and recycled product. So you know something about regulations and your opinion of this situation.
Posted by Canada.ca on May 15, 2017
Hello Khaled,

Thank you for contacting Canada Business. We are always happy to help you with questions about starting or growing your business in Canada.

For information on investing in a Canadian company as a non-Canadian, please consult Global Affairs Canada’s website Invest in Canada. More information can be found on our page Immigrating to or investing in Canada to start a business.

You will also find a wealth of information on starting, managing and growing a business on our website: CanadaBusiness.ca.

Canada’s International Gateway website has information and services for entrepreneurs who are looking to make Canada their next investment destination. Find suppliers, importers and more.

If you have questions about starting or growing your business in Canada, please contact us for assistance.

Thank you.
Posted by Khaled on May 14, 2017
I am German, Orthopedic Surgeon, asking if I can invest my money to open a clinic or medical field, I don't know if it is possible and what is the regulations and rules.
Thanks for help.
Posted by Canada.ca on May 8, 2017
Hello Venita.

Thank you for contacting Canada Business. We are always happy to help you with questions about starting or growing your business in Canada.

To help you plan for a successful start to your venture, check out the Restaurant and catering start-up checklist page for some of the things you'll need to take care of. Filter the website for your region, industry, and audience by clicking the “Settings” icon at the top of the page.

You may also be interested in browsing our Blog to find articles on topics such as startup, financing, entrepreneurship, and market research.

Buying an existing business or a franchise may be something to consider as well:
Buying a business: http://ow.ly/o4yo30bx95L
Franchising: http://ow.ly/2mfP30bx9e6

Furthermore, our Permits and licences search tool can help you find the permits and licences you may need for your restaurant.

For information about expected costs or if you have further questions about starting or growing your business in Canada, please contact us for assistance.

Thank you and good luck with your next steps
Posted by Venita on May 7, 2017
My dream is to open a restaurant but don't have any experience how do I start and how much will it cost.
Posted by Fiston on May 2, 2017
j'ai aimé le blogue et aimiez aussi faire parti de ceux-la qui on créer leur propre entreprise car, en effet, j'en est déjà sauf que mon pays la RDC ne tien pas compte des jeunes créateurs d'idées.
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