User:Krishna Raa(na)

Every new business starts with an idea. Maybe there's something you're really knowledgeable and passionate about, or perhaps you think you've found a way to fill a gap in the marketplace. Wherever your interests lie, it's almost guaranteed that there's a way to turn it into a business.Another option is to open a franchise of an established company. If you choose to go this route, a lot of the legwork has been done for you. The concept, brand following and business model are already in place; all you need is a good location and the means to fund your operation.Once you've narrowed your list of ideas down to one or two, do a quick search for existing companies in your chosen industry. Learn what the current brand leaders are doing and figure out how you can do it better. If you think your business can deliver something other companies don't (or deliver the same thing, but faster and cheaper), you've got a solid idea and are ready to create a business plan.David Silverstein, a global business consultant and CEO of operational strategy consulting firm BMGI, cautioned would-be entrepreneurs against starting a business for the sake of being a business owner: You need a viable business model, not just an idea, he said."Businesses don't start with simple ideas," Silverstein told Business News Daily. "They start with problems to be solved [and] opportunities to do something better. Know your solution and your customer inside and out. Ensure you are passionate about what you are starting because you will be spending all your time with it."