Business Ideas for College Students -

Student Small Business IDEAS

Small Business Ideas / June 9, 2018

Beware of asking yourself "what would be a good business idea", because then you'll fall into the trap of coming up with ideas that sound good but don't actually work.

What you ought to do instead is to make a long list of all the problems you can identify. What's stupid or lousy or annoying about the world around you?

Then show your friends the list, and ask them what they'd agree or disagree with. This is an interesting exercise that will teach you a lot about yourself and your friends.

Then see if you can come up with any simple solutions to any of those problems. Don't be satisfied with your first idea. Come up with 10 more for each.

(Those solutions are your potential business ideas.)

Then you'll want to see if the economics makes sense for any of them. Is the cost of providing the solution lower than the price that people are willing to pay for it? Ask people with the problem if they'll pay. (Do not ask them "If it sounds like a good idea". Every nice person will say "Yeah, sounds alright." Ask them if they'll pay.

You know you got it in the bag when people are demanding to buy your prototype, or asking when they can get the solution, etc.

Ultimately, a business is just a system of solving problems for people who are willing and able to pay for it.