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There isn't a minute of the day that goes by without a new internet site being launched on the internet by the next hopeful entrepreneur hoping to make millions. Most are doomed to failure from the start. Some of the best business ideas are lost because of a lack of backing, failure to do any research, poor website design and lack of business brains. So what are the best business ideas and how to do turn them into a success?

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Businesses can be broken down into just a few main categories and in order to do this you have to look at the market place. Companies providing essential needed products or services that people must buy, like food, utilities and insurance. Companies supplying products and services that people feel they must have or need like clothes and cars. Companies selling products that people want as opposed to need, like jewellery and holidays.

There is always a cross over between the first and second and between the second and third with the buying public unable to differentiate between need and want. This is where your marketing department should play its part. An example of this is bottled water. There are a reputed 20,000 different brands of bottled water and the general public happily visit their local supermarket and lug home a product that they have on tap at home and can buy at less than .01% of the cost. The question is - why?

UK tap water is perfectly drinkable, comes from the same source as bottled water, tastes the same and often better and is far more accessible. However, marketing departments and advertising agencies have been able to convince the general public that water from a bottle is better for you, tastes better and is different to tap water.

Tap water is fresh, bottled water can sit in a warehouse for weeks before it makes it to the supermarket shelf. Tap water is good for the environment, bottled water leaves a residue of plastic bottles and a carbon footprint because of the lorries needed to deliver a product that nobody needs.

Clever idea though. Who was the first person who thought of taking a product that they could obtain for free, that nobody needed and selling it at a huge premium. Can you imagine going to your bank and asking for a loan to set up a business selling bottled fresh air, which is the next nearest thing? Problem is, 20,000 other companies would spring up doing the same thing.

Finding a unique product or service that people need and have to purchase on a regular basis would be the perfect business starting point. Coming up with a unique; needed service that requires low overheads and little time commitment is the near perfect scenario. The perfect scenario being a service or product based business that no one could copy. The last time this happened was when electricity was invented, so don't hold your breath. However, the best business ideas are often the simplest and when they are launched as a business, most people wonder why they didn't think of it first. However, having a good idea and turning it into a profitable business are two very different things.

Most people in the course of their lifetime will come up with at least one business idea or invention and never take it further than a rough sketch on the back of a cigarette box. Others will get as far as patenting their invention and take it no further due to lacking the drive or business acumen or failing to find a backer.

It should be pointed out that you can patent an idea for a product or invention but you cannot patent the idea for a business.

If you have a good idea for a business or a new invention, the best business decision you could make right now is talk to us.

Most new businesses fail and most new inventions never make it to market because of a lack of backing and having the right business brains on the board of the new company. We are always on the lookout for new inventions and business ideas and if you want to turn your idea into a success, you should be looking for business partners.

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