Chicago (The Loop)
Chicago (West Loop)
Chicago (Wacker)
Houston (Theater District)
Houston (Scanlan Building)
Dallas (Katy Building)
Charlotte (Uptown)
Jacksonville (Groover-Stewart Building)
Seattle (Pioneer Building)
Alexandria (Old Town)
Indianapolis (Circle Tower)
Pittsburgh (Golden Triangle)
San Diego (Gaslamp)
Denver (16th Street)
Chicago (River North)
Kansas City (Kessler Building)
Richmond (Shockoe Slip)
Nashville (5th Avenue)
Minneapolis (Lasalle Building)
Boulder (15th and Canyon)
Cincinnati (Hooper Building)
Savannah (Johnson Square)
Phoenix (Midtown)
Chicago (Superior)
Minneapolis (TriTech Center)
Madison (The Capitol)
Orlando (Angebilt Building)
Denver (Trinity Place)
Milwaukee (Cathedral Square)
San Jose (North First)
Washington, D.C. (Dupont Circle)
Phoenix (Heard Building)
Norfolk (City Center)
Miami (Biscayne)
Columbia (Main Street)
St. Petersburg (4th Street DTSP)
Austin (North Austin)
Houston (Upper Kirby/Greenway)
Albany (State Street)
America Chicago
America Adak
America Anchorage
America Anguilla
America Antigua
America Araguaina
America Argentina - Buenos Aires
America Argentina - Catamarca
America Argentina - Cordoba
America Argentina - Jujuy
America Argentina - La Rioja
America Argentina - Mendoza
America Argentina - Rio Gallegos
America Argentina - Salta
America Argentina - San Juan
America Argentina - San Luis
America Argentina - Tucuman
America Argentina - Ushuaia
America Aruba
America Asuncion
America Atikokan
America Bahia
America Bahia Banderas
America Barbados
America Belem
America Belize
America Blanc-Sablon
America Boa Vista
America Bogota
America Boise
America Cambridge Bay
America Campo Grande
America Cancun
America Caracas
America Cayenne
America Cayman
America Chicago
America Chihuahua
America Costa Rica
America Creston
America Cuiaba
America Curacao
America Danmarkshavn
America Dawson
America Dawson Creek
America Denver
America Detroit
America Dominica
America Edmonton
America Eirunepe
America El Salvador
America Fortaleza
America Fort Nelson
America Glace Bay
America Goose Bay
America Grand Turk
America Grenada
America Guadeloupe
America Guatemala
America Guayaquil
America Guyana
America Halifax
America Havana
America Hermosillo
America Indiana - Indianapolis
America Indiana - Knox
America Indiana - Marengo
America Indiana - Petersburg
America Indiana - Tell City
America Indiana - Vevay
America Indiana - Vincennes
America Indiana - Winamac
America Inuvik
America Iqaluit
America Jamaica
America Juneau
America Kentucky - Louisville
America Kentucky - Monticello
America Kralendijk
America La Paz
America Lima
America Los Angeles
America Lower Princes
America Maceio
America Managua
America Manaus
America Marigot
America Martinique
America Matamoros
America Mazatlan
America Menominee
America Merida
America Metlakatla
America Mexico City
America Miquelon
America Moncton
America Monterrey
America Montevideo
America Montserrat
America Nassau
America New York
America Nipigon
America Nome
America Noronha
America North Dakota - Beulah
America North Dakota - Center
America North Dakota - New Salem
America Nuuk
America Ojinaga
America Panama
America Pangnirtung
America Paramaribo
America Phoenix
America Port-au-Prince
America Port of Spain
America Porto Velho
America Puerto Rico
America Punta Arenas
America Rainy River
America Rankin Inlet
America Recife
America Regina
America Resolute
America Rio Branco
America Santarem
America Santiago
America Santo Domingo
America Sao Paulo
America Scoresbysund
America Sitka
America St Barthelemy
America St Johns
America St Kitts
America St Lucia
America St Thomas
America St Vincent
America Swift Current
America Tegucigalpa
America Thule
America Thunder Bay
America Tijuana
America Toronto
America Tortola
America Vancouver
America Whitehorse
America Winnipeg
America Yakutat
America Yellowknife
Hawaii-Aleutian Standard Time (HAST)
Hawaii-Aleutian with Daylight Savings Time (HADT)
Alaska Standard Time (AKST)
Alaska with Daylight Savings Time (AKDT)
Pacific Standard Time (PST)
Pacific with Daylight Savings Time (PDT)
Mountain Standard Time (MST)
Mountain with Daylight Savings Time (MDT)
Central Standard Time (CST)
Central with Daylight Savings Time (CDT)
Eastern Standard Time (EST)
Eastern with Daylight Savings Time (EDT)
Atlantic Standard Time (AST)
Atlantic with Daylight Savings Time (ADT)

Getting off the ground

One of the most common concerns we’ve heard from students, aspiring entrepreneurs, and other professionals goes something like this:

“I want to start my own business, but I don’t know what to do.”


“What type of business should I start?”

We completely understand. At Novel Coworking, we’ve worked with a variety of different businesses, from tech to healthcare, startups to enterprises. Starting a business can seem like a daunting undertaking, and in many ways it is. But nothing seems more overwhelming than deciding on an initial business idea.

Why you need a business idea

Every business starts with a single idea. Even if you don’t have any employees, office space, or money, you cannot run a business without a good idea.

Consider this Twitter account, nomoneynoideas, who intended to write about his experience starting a business without any money or ideas. The account and website lasted about two months, before activity ceased completely.

You must start with an idea. Otherwise, you may end up working hours on countless tasks without any real idea of what it is that you are trying to accomplish. Entrepreneurs will always experience risk, but you have to find ways to mitigate it as much as possible.

Brainstorming business ideas

There are a few ways to go about this:


Find a problem to solve.

Maybe you don’t like how energy bars are branded. Or perhaps you want to create a more efficient way to travel. Rachael Chong was inspired to start Catchafire after a volunteering experience in which she was not able to utilize her financial skills.


Stay ahead of the industry.

Notice a new trend or technology taking off? Why not explore its capabilities and potential? Some of the strongest businesses today, like Cisco and Amazon, saw the cloud revolution and have organized their business to deliver on that front.


Create a better, cheaper product.

Not everything needs to be reinvented. Sometimes, you just need to take a product, put your own spin on it, or cut out some of the most costly steps. Skullcandy is known for making affordable, highly stylized headphones, but is by no means the first to invent the product.

These are just a few ways to get started. Check out Entrepreneur’s other suggestions, from asking shoppers to innovating in a stagnant field.


Developing business ideas

An idea is only the first step. The question becomes- how does one develop a business idea? Once you find a problem and come up with a solution, or once you find a unique niche to operate in, what comes next?


The importance of industry knowledge

It’s best to get in touch with professionals in your network- industry experts, mentors, professors, and other business owners. Especially if you’ve never started a business before, there’s only so much you can do with an idea. You need some feedback and guidance to bring it to life.

Contact these individuals on LinkedIn, Facebook, or at local networking events. You may even want to network in your own office or coworking space. Don’t just explain what you plan on doing, offer your help first. Business partnerships begin with the help you can offer others.


Set up a business plan and a timeline

What’s the difference between a dream and a goal? Two things: a plan and a timeline. Create a system of organization for clarifying your idea, the steps you will take to achieve it, and the deadlines and milestones to shoot toward.

Some initial things you’ll need to consider in your plan:

A description of your company
An analysis of the market
Your organization and management
Cost structures and revenue streams

To learn more about writing your own business plan, check out a few pointers and examples from the U.S. Small Business Administration.


Examples of successful business ideas

Digital Photo Mentor
Photography can be deceptively difficult. Some people think it’s as simple as pointing and shooting, but in reality, their photos always lack something. Few people understand this like Darlene Hildebrandt. She helps people learn how to use the camera, troubleshoot their problems, and reach the next phase in their photography career through workshops and photography tours.

Darren Rowse read an article about blogging, and within 24 hours had decided to start his own personal blog. Over the next few years, his blog would explode in popularity, from hobby to a major business platform. Today, ProBlogger has offered invaluable resources for people looking to start making money through blogging.

Starting a business seems tough and complicated, but coming up with an idea to work on isn’t something that should turn you away. An idea is just the beginning- the initial spark or footstep. It’s by no means the final product. Even the best businesses today are nothing like their founders intended. They changed paths, narrowed their focus, or grew beyond that starting point.


Want to learn more about starting and running your own business? Visit Novel Coworking’s blog today.