Entrepreneurship nowadays is no longer an easy trick that can be done by anyone like a real circus artist and a magician who has a head on his shoulders and sufficient logical thinking that can produce all the ideas needed for business activity and plan all the processes for a business to succeed. Today we are faced with enormous competition in business, because there are countless companies on every corner and only SIA or limited liability company is visible all around. Because of the enormous competition, one who plays a crucial role in successful business today is good business ideas.

Many people want to open their own business. This is because work for someone, unlike work for yourself, is the one that directs people to form businesses and be the determinants of their own work and life. The existence of your company creates freedom, but it also leads to financial difficulties, especially when you are just born. Borrow now so that your business ideas can be successfully implemented without any unnecessary financial delays.

Clearly – ideas for your business can be many and varied, but it is important to know and be able to select only those business ideas that are really good and probably the best – those that will be so innovative ideas that will eventually turn into a real next Latvia’s Success Story. First of all, you should start by choosing interesting business ideas in your mind and fixing them somewhere on a piece of paper, or using your own computer where you can make different kinds of notes in a word document or windows sticky notes. When we have gathered all our ideas for business in Latvia, it’s time to group them into several categories.

Add all the business ideas where you are confident

Add all the business ideas where you are confident

Suppose all your business ideas are one that circulates around something that is very close to your heart or you love to do it. So let’s create the first ranking category – closest to the heart. Add all the small business ideas that are closest to your heart here. Afterwards, turn your heart off and think very realistically and with your mind, and in terms of convenience, and create the next category somewhere beside what are called “real ideas”. Add all the business ideas where you are confident that this kind of business would be easier for you, you would have great prospects, less risk, and you already have a vision of how you could do it (depending on your business idea) develop and create. Afterwards, we are creating a third category, which we call “business ideas not quite” and here we leave all the other ideas that you will definitely miss out on, and are useless, or difficult to implement or very impossible business ideas in Latvia.


When we have successfully captured all the business ideas that come to our mind (which can also be fixed for several days, weeks or even months as soon as they come to mind) and they are sorted by our pre-established categories, it is necessary to take a small tea or coffee break to relax your mind from constant thinking. Relax and after a while we return to our categorized list to pay attention to it again. First of all, you need to look at all the ideas and go through them again. If you suddenly feel the feeling that a business idea is bored and not really in place, we definitely move it where it would work best. When the list is ready, you have to connect your mind and feel at the same time. We pay close attention to the idea of ​​starting a business that we have categorized as “closest to heart” and “real ideas”. Start by exploring each idea, analyzing each other one by one, and diligently analyzing them. Once you feel that one of the ideas is really worthwhile and you are ready to do it, create the fourth category, “my real business idea”, and keep it there. If for some time the categories closest to your heart or real business ideas come up with another idea that seems just as perfect, we capture it in the fourth category exactly the same.

All business ideas and start developing your new business!

All business ideas and start developing your new business!

Finally, when we have already created the fourth category and have at least 2-3 crazy business ideas that we have been able to figure out throughout our long period of thinking and idea generation, no matter how long it has been for everyone, we forget about the previous three categories and we focus only on the very last category, the fourth category, where we have gathered only those business ideas that are our real and ready. It should be mentioned that thinking about business ideas during a crisis, for example, when we are constantly pressed with stress, depressed or facing some very serious life problems, is quite unhealthy and should be postponed. Borrow now to get rid of any kind of financial problems is quick and easy, so don’t put it down to the last and start generating your business ideas! Think about business ideas only when you are in a good mood and with a mind of mind, free from worries and problems of different nature.

Turning to the fourth category, we need to make a final decision, but before that we need to go deeper into every business idea. Take every business idea and start exploring the local and regional market as well as Latvia to understand if such an idea is truly innovative and has not been implemented under another existing business name. When we have explored the local market (especially when it comes to business ideas in the countryside), we are starting to explore and think about many other factors that affect businesses. For example, premises, employee collection, location, local market, consumer demand, people’s buying ability, and many other things that all can make specific business ideas really realistic or simply impossible in Latvian conditions. Once we have evaluated each business idea from the following aspects, we begin to note all the pros and cons, benefits and losses of each of the four ideas we collect. When it is ready, we go for a choice or lottery to accept one of all business ideas and start developing your new business!

Thinking about different business ideas, it’s important to keep in mind some very important things. First of all, it is a huge and wild competition with which every company has to meet today. There is competition not only in the local region, in the city or in the country where the company will be established, but also in the internet space where multinationals are frustrating and covering customers from all over the world. There are also a small number of people from Latvia who prefer to buy different types of products from companies abroad, via the Internet, than even local producers. It is even important to make sure that the idea is new, fresh, crazy and innovative.


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