Enterprising New Business Ideas

By Business & Finance Last updated Wednesday, April/24/2024

Age

There is no age limit when it comes to new business ideas. Schools teach courses designed to help students become junior entrepreneurs. A benefit to instructing young businesspersons is planting the seeds of social awareness early, allowing both business benefits and societal benefits to coexist. Schools provide workshops for students to discover marketing techniques, as well as ways to create financing and methods of evaluating a product's potential market. For example, Matt Danik, a sophomore high school student, won first place in the 2011 Notre Dame Invention Convention for "Danik's Landscaping," a lawn and maintenance service offering high-end landscaping at reasonable prices.

When a person comes up with a great new business idea, finding money to make that idea into a reality is difficult. However, various institutions and foundations set up seminars designed to discover new business ideas and talents. These groups and individuals also give advice on the best ways to market an idea, as well as provide instruction on developing business plans.

One area where an enterprising new business might take hold is found on the Internet. A website known as Kickstarter allows members to post their business ideas and proposals online. The website community votes on the various projects. If a project or business idea gets enough votes, the website provides the money needed to bring the idea to fruition. While the Kickstarter site places a strong emphasis on social benefits arising from the business idea, there are other sites more interested in the economics of the idea.

Enterprising business ideas sometimes come from individual passions. Businesses succeed when the owner genuinely enjoys the business. For example, Jamie Gyolai decided to turn his passion for ice cream into a business providing services to his local community. He opened up The Mixing Studio, allowing customers to create their own ice cream flavors and mix-ins online and pick up the finished product at the store's real-world location. Part of the proceeds from the business go into various community organizations.