As jobless claims continue to rise, newly-unemployed, entrepreneurial-minded people may be looking for new business ideas. Brian Tracy, a motivational speaker, author and entrepreneur, is offering some free advice on how to find new business opportunities.

“Number one, begin with yourself. Begin with your own talents, your abilities, your experience, knowledge, interest, background, education, and so on,” Tracy says. “Look carefully at your current work, your current business, your current position, or your current product or service. Seek for what is called your own acres of diamonds. Look under your own feet.”

Tracy recommends asking yourself the following questions:

  • What qualities account for your greatest successes in life so far?

  • What personal qualities and abilities have gotten you to where you are?

  • How could you apply those qualities and abilities to starting and building a new business?

  • What product or service can you become enthusiastic about?


Tracy also recommends looking for something that is an improvement on an existing product or service, not something brand new. “Remember improving an existing successful product or service is the fastest and surest way to build a successful business,” he says. “An idea only needs to be 10 percent new and better to capture substantial market share. Brand new products or services are very risky.”

While you are putting Tracy’s advice in practice, consider how a virtual office space can help you establish a professional business image even while you work from a bootstrap budget. Virtual offices give you a prestigious business address in just about any major city in which you want to set up your business, from New York to Los Angeles to Las Vegas to Miami and beyond. You can also tap into the professionalism of an 800 number or local number in the city of your choice.

With a virtual office space, you can rent a conference room for an hour or a day to give presentations to potential investors. You can even rent day office space if you need a quieter place to work while family is visiting your home during the summer. If you want to up the ante on your professional image, you can also opt for a virtual receptionist who will answer your phone with a personalized greeting and forward the call to you, or take a message. And if your newly-minted business grows faster than you anticipated, you can hire a virtual assistant to help you keep up with the opportunities.

Check out this Brian Tracy video on 21 Great Ways to Build a High Profit Business.