Opportunities for Small Business Ideas

Friday, June 3, 2016

cartoon of a man beating his competition in a race

Written by Alex Chao (BES '09)

Are you an import/export business, a non-profit organization, looking for business name ideas, or in the midst of finding the best innovation strategy? A post-secondary education allows a person to understand many things, one of which is that the process of learning can be quickly refined, in order to enable an effective use of resources and time, towards a desired outcome. This logic can be applied to the business world as well. For example, a start-up, or even an existing enterprise, will eventually tell you how important it is to avoid the risk of making business decisions with obsolete information or unrealities that can bring about failure. Graduating from a post-secondary institution, such as the University of Waterloo, has taught me that regardless of what an individual chooses to study, their imagination is the key point to all of life’s endeavours, especially in the business realm. Therefore, ask yourself as many questions about your own business, to maximize the possibilities.

While at UWaterloo, I learned that before initiating a product strategy, you have to ask yourself some questions during the strategic planning process, in order to have a sense of whether growth and development will actually occur:

  1. What are my customers actually looking for in an industry?
  2. What does the landscape look like for goods or services, so that my business can properly achieve revenue growth and sustainable sales?
  3. How can I make my innovations lead to a stream of favorable and profitable products that are appropriate to what my audience is looking for?
  4. Do I understand the demand, audience and customers for my business to cost-effectively experiment in its potential for development?
  5. What are ways to identify markets that support my business, while synergizing more business ideas, enabling the capitalization of more niche markets that are out there?

The University of Waterloo has taught me that the best questions are the ones that no one bothers to ask, and there is always a mystique and reason as to why. This gem from the University has allowed me to solve the problems that many start-ups/businesses face when trying to introduce additional worthwhile goods and services. I sought to answer some of these questions after graduation in my  business solution book, Micro Niche Keywords. This digital download is able to identify up to 1,500,000 million business ideas of profitable goods and services that people actually want, based on online searches that reflect your industry.

To provide a demonstration of Micro Niche Keywords, there are over 45,000 accessory products with well over fifty million monthly searches of what consumers are searching for: ranging from “business attire for women,” “personalised baby gifts,” “gold bracelets for women,” “wedding decoration ideas,” “one shoulder dresses,” etc. These searches represent actual products that prospective consumers are willing to pay money to purchase. Rather than manually brainstorming business ideas and developing a product strategy, Micro Niche Keywords shows favourable goods and services that people actually want, thereby providing any start-up or business with insight into business opportunities, and enabling businesses to align their product strategy to marketplace reality.

If you would like to identify advantageous new opportunities for goods and services based on demand for your business, and understand what your customers are actually looking for, visit: www.MicroNicheKeywords.com