The best way to come up with a startup idea is through observation and analysis.

And as you observe don't be intimidated by the people who have already established the business that you think will thrive in a particular area. Besides competition is healthy as it ensures clients get value for their money. If you wish to start a business and are having trouble coming up with start-up ideas then this guide will walk you through some practical tips. 

Outline Easy Start-Up businesses

When planning to set up a business, you must first zero down to a specific niche, such as landscaping, Event Planning, Photography, or Jewelry making. Once you have chosen the start-up idea that you think will generate a decent income for you. You will now have to research the business idea. 

Carry Out a Thorough Research about the Business Idea 

If you have decided to settle with Event Planning, you now have to establish if this business idea is worth your finances, time, and effort.  And the best way to come up with concrete results is by doing a market research, and while at it, you might also want to analyze your competitors. The information that you will get will help you understand what your potential customers need. 

You will also be able to understand the problems that will likely affect your service. Additionally, thorough market research will enable you to minimize the potential financial losses as you will be better placed to make informed financial decisions. 

Search for gaps in service or product provision 

When thinking of startups you have to be willing to start small, and this would also mean establishing your business in areas that are not fully developed but have the demand for your product or service. For example, most remote areas have schools located far away from residences, students have to trek for long before getting to school. You could set up a school in this area and given that it is remote, most of the resources won't be as expensive. 

If you, however, don't wish to move to remote areas, you could get into real estate, and provide laundry services at a fee. Get a loan if you don't have enough cash, buy the washing machines, install them and pay the loan as people pay for the service monthly. 

Identify and Talk to Your Potential Clients 

Under this option you should be able to pick up the people that you think will benefit from your service. And some of the most important aspects under this option are things like location, age, and your client's marital status. Carry out surveys, you can also take your research to the social media platforms as this will enable you to cover more ground and get a better understanding of whether your business will prosper. 

Evaluate Your Competitors 

Understanding the competing services will give you a better idea of what is missing and what exists in your industry. What's more, is that the information derived can be used to improve your business idea as you will be better placed to address the weaknesses in the service that you wish to offer before investing time and money on creating it. 

As you analyze your competitors, also check on their prices, to establish what your potential clients are currently spending on the service and whether it resonates with your overall goal. 

Check on Your Finances 

Now that you have established that your business can actually thrive, you now have to look at your finances. It is possible that you might not have a single sent yet to your name, yet you are passionate and know that you can work to make the business a success. Now here are some options to get you going. 

You could get a business loan, you could also reach out to your friends and family for financial backup or encourage angel investors to back up your startup. If all the above options prove impossible, you can first settle with the businesses that don't need money to start and build your way up. 

Some of the businesses are such as Tutoring, Dog Walking, Graphic Design, Freelance Writing, or Personal Training among others. 

Develop your product or service 

This is the most critical step when coming up with a startup idea. So to get you moving, you can use the various project management software which will also help you monitor the progress of your project. For example, the Agile Zen project management software has a template with stages conveniently broken down, which enables the project manager to delegate duties. The template also enables tasks to be moved from one stage to another.