{"id":11984,"date":"2021-05-02T19:44:59","date_gmt":"2021-05-02T19:44:59","guid":{"rendered":"https:\/\/simplebooks.com\/srilanka\/?p=11984"},"modified":"2025-10-12T22:54:35","modified_gmt":"2025-10-12T17:24:35","slug":"business-ideas-in-sri-lanka","status":"publish","type":"post","link":"https:\/\/simplebooks.com\/srilanka\/business-ideas-in-sri-lanka","title":{"rendered":"How to come up with business ideas in Sri Lanka + 5 great small business ideas"},"content":{"rendered":"\n

Have you ever wondered what it would feel like to own your own business in Sri Lanka? <\/p>\n\n\n\n

Have you been dreaming of escaping the 9 – 5 life, but struggle with figuring out which business ideas in Sri Lanka have the best returns?<\/p>\n\n\n\n

Well, if this sounds like you – you\u2019re at the right place. <\/p>\n\n\n\n

We\u2019ve helped thousands of businesses begin their journey in Sri Lanka. <\/p>\n\n\n\n

Along the way, we\u2019ve learnt a thing or two about the factors that set a good business idea apart from a bad business idea.

So, if you have been wondering about how to come up with good business ideas in Sri Lanka, look no further. <\/p>\n\n\n\n

This blog will guide you through the process of coming up with great business ideas.<\/p>\n\n\n\n

Table of contents.<\/h6>\n\n\n\n
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  1. How-to: Develop a good business idea in Sri Lanka<\/a><\/li>\n\n\n\n
  2. The best businesses in Sri Lanka solve problems<\/a><\/li>\n\n\n\n
  3. Validate your business idea<\/a><\/li>\n\n\n\n
  4. Look at what other people are doing<\/a><\/li>\n\n\n\n
  5. How-to: Make sure your business idea succeeds<\/a><\/li>\n\n\n\n
  6. Business opportunities in Sri Lanka<\/a><\/li>\n<\/ol>\n\n\n\n

    How-to: Develop a good business idea in Sri Lanka <\/h2>\n\n\n\n

    Now, this might be your first time settling into the entrepreneurial mindset.<\/p>\n\n\n\n

    Or, you might\u2019ve already tried a few times before this. <\/p>\n\n\n\n

    We\u2019ve had the opportunity to help a lot of budding entrepreneurs craft and perfect their business ideas along the way.<\/p>\n\n\n\n

    The most common trope we\u2019ve come across is entrepreneurs that have tried and failed multiple times solely because they didn\u2019t have a good process in place to develop their business idea along the way.<\/p>\n\n\n\n

    If either of these cases sound familiar to you, here are a few steps you can follow to develop your business idea.<\/p>\n\n\n\n

    Step 01:<\/strong> Make sure your potential business solves real life problems.<\/p>\n\n\n\n

    Step 02:<\/strong> Validate your business idea.<\/p>\n\n\n\n

    Step 03:<\/strong> Observe the market. <\/p>\n\n\n\n

    Step 04:<\/strong> Ensure that you\u2019re passionate about what you\u2019re doing.<\/p>\n\n\n\n

    Having a good, foolproof process like this can help you eliminate the bad ideas and nurture the good ones.<\/p>\n\n\n\n

    Let\u2019s take a look at all of these steps in detail. <\/p>\n\n\n\n

    The best businesses in Sri Lanka solve problems<\/h2>\n\n\n\n

    You heard that right, good businesses that make the most money in Sri Lanka solve real problems of everyday people. <\/p>\n\n\n\n

    Let\u2019s put aside local businesses for a second. What about global businesses? Do they follow the same rules?

    You bet!

    Think about Apple. <\/p>\n\n\n\n

    Let\u2019s go back to the very beginnings of the iPhone.

    What was Steve Jobs trying to solve when he and his company, Apple, invented the iPhone? <\/p>\n\n\n\n

    Poorly designed phones. <\/h6>\n\n\n\n

    <\/p>\n\n\n\n

    Back in 2007, technology was rapidly developing. However, the phones at that time didn\u2019t really reflect that. Don\u2019t get us wrong, even the team at Simplebooks have really fond memories of their old Nokia brick phones and their Motorolas. But, they weren\u2019t the high-tech, uber-functional and futuristic phones we had all seen in time-travel movies. <\/p>\n\n\n\n

    <\/p>\n\n\n\n

    Then came the iPhone. A beautifully designed and functional mobile phone that solved a real problem people faced. Because it solved a very real problem, people lined the streets to get their hands on this new gadget.  And what followed this newfound iPhone craze? Money. A lot of it. <\/p>\n\n\n\n

    <\/p>\n\n\n\n

    Let\u2019s take a look at a more local example.<\/p>\n\n\n\n

    Since we\u2019re the ones writing this article – we\u2019ll put ourselves to the test. <\/p>\n\n\n\n

    Is Simplebooks solving a real problem? <\/p>\n\n\n\n

    When we first started Simplebooks in 2017, it was really because one of our founders was very unhappy. He had been trying to register his new company for a few months, and the registration process was driving him insane. <\/p>\n\n\n\n

    <\/p>\n\n\n\n

    He couldn\u2019t find a proper registrar that kept him informed about the process, registering a company took a long time (with a lot of delays in the middle), and the prices to register kept changing from time to time.<\/p>\n\n\n\n

    He. Was. Angry.<\/p>\n\n\n\n

    After talking to a few of his fellow entrepreneur friends, he realised that his peers were facing the same problem as well.<\/p>\n\n\n\n

    The Sri Lankan company registration process seemed overly complicated, there was no reliable information on how to register a company in Sri Lanka<\/a>, and everybody had different prices for company registration. <\/p>\n\n\n\n

    That\u2019s when a new business idea struck him.<\/p>\n\n\n\n

    So, he got together with a colleague (who was a registered company secretary) and started Simplebooks.<\/p>\n\n\n\n

    And, how have we fared through the years?<\/p>\n\n\n\n

    Well, what started as a two-person company in 2016 is now (in 2021) a 30+ person company that has helped over 2,000 businesses begin their journey in Sri Lanka. <\/p>\n\n\n\n

    So, the first step in coming up with a good business idea is to make sure that your idea solves actual problems. <\/p>\n\n\n\n

    Validate your business idea <\/h2>\n\n\n\n

    You might ask yourself \u201cBut how do I know if my business idea is good?\u201d.<\/p>\n\n\n\n

    This is a very good question to have.<\/p>\n\n\n\n

    However, you can improve upon this idea.<\/p>\n\n\n\n

    Instead of asking yourself \u201cHow do I know if my business idea is good?\u201d, ask yourself \u201cWill I, or anyone I know benefit from my business?\u201d.<\/p>\n\n\n\n

    It\u2019s as simple as that. <\/p>\n\n\n\n

    As always, the best place to start looking for answers is by asking yourself. <\/p>\n\n\n\n

    So, does your business idea solve a problem you\u2019re currently facing?<\/p>\n\n\n\n

    If not, that\u2019s fine.<\/p>\n\n\n\n

    The next place you can look at is your family and friends.<\/p>\n\n\n\n

    This is pretty easy to do as well. All you have to do is reach out to them. Send them a text, or write them an email, or give them a call, or better yet – invite them for a quick coffee and chat.<\/p>\n\n\n\n

    Get in touch with the people you\u2019re closest to and ask them if your business idea:<\/p>\n\n\n\n

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    1. Adds any value to their lives <\/li>\n\n\n\n
    2. Solves a problem they are facing<\/li>\n<\/ol>\n\n\n\n

      And, when they\u2019re giving you their feedback – remember to listen and take notes. Their responses could give you a lot of insight.<\/p>\n\n\n\n

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