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How to find new business ideas

find new business ideas

find new business ideas

How do you find new business ideas in a world where everything seems to already be available? Our guide shows how to think differently to spark ideas.

In search of a promising idea, it is worth going through the world with your eyes open. You don’t always have to reinvent everything from scratch – you can also benefit from what others are already doing. Business models that already work in one area can often be transferred to other areas. So look around to find new business ideas.

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New thinking to find new business ideas

Ask yourself the following questions to find new business ideas

  • What principles others use can I transfer to the product I would like to sell?
  • What offers in places I visit are not yet available at home?
  • What excites me on my holiday and how can I bring this feeling to my hometown?
  • Do I know of a company whose founder is planning to retire?
  • Would a franchise be something for me?

What do you offer?

Learn from other industries

Götz Werner, founder of what is now the largest drugstore chain in Europe, realized in the early 1970s that the principle of food discounters could also revolutionize the drugstore industry: away from counter sales in small owner-managed stores, to cheap self-service discounters to the exclusion of intermediate trade. 

Faltin’s tea campaign idea, which was developed more than 30 years ago, has also found imitators in other areas: In the meantime, there are companies that apply the principle to juice, wine, spices or olive oil, for example: high organic product quality,fair trade in large packs that go directly to the end user.

Finding ideas on holiday

Even a holiday can get you on ideas: Eugen Block, for example, got to know and love the steakhouses there during visits to the USA. He “imported” the idea to Germany and founded the first steak restaurant. The founders of True Fruits, on the other hand, came up with their business idea during a semester abroad in Scotland: there they discovered smoothies in the supermarket and brought the pureed fruits from the bottle to Germany. A market that grows and grows… 

You see the ideas are on the street – it’s up to you to see them and use them for you. Or you can …

Take over a business

According to a study by Ernst and Young, a wave of succession will roll over the western world’s middle class in the next few years: more than 8 million handovers are to be done as companies change with being the targets of mergers and acquisitions.. Buying or taking over a company is also a way to become self-employed. You don’t necessarily have to reinvent the wheel. If you can imagine taking over an established company, take a look at whether a company from your desired industry is looking for a successor.