Generating ideas based on your personal inventory

One way to generate business ideas is to consider an inventory of yourself. Start by asking yourself the following questions:

  • What skills do I have?
  • What knowledge do I have?
  • What interests and passions and hobbies do I have?
  • What have I done and achieved in my past and current jobs?
  • What things could I learn and become competent at with a reasonable period of time?
  • What equipment and materials do I have or have access to?
  • What capital and credit do I have access to, and what could I do with this?

For example, if you have training and job experience as a nurse, you might be able to find a way to leverage your skills and knowledge into a healthcare-related business — perhaps home care services, nutritional counselling, or creating books and courses on health-related topics.

If you love cooking as a hobby, then why not consider starting a restaurant or a bakery or a catering business?  Or you could write cookbooks, or make cooking videos, or teach cooking classes, or open a shop selling kitchen gadgets!

If you own a woodworking shop and equipment such as a lathe, then perhaps you could start a business making furniture or crafts, or you could teach people woodworking.

If you have access to a computer and the Internet (and I’m guessing you do), could you teach yourself basic web design within a few months?  Of course you can!  Yes, it will take longer than a few months to become a really world-class web designer, but could you start making money with even an intermediate skill level, either getting paid to make websites for other people, or creating your own sites with money-making potential?  You bet!

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