Your Business Idea – Maui Business Resources

STEP 1
Your Business Idea

What to consider to come up with an idea
Brainstorm Business Ideas

I’m lost and I need help with brainstorming business ideas.

The Maui Economic Development Board offers free 1-on-1 business counseling and mentoring sessions. Make an appointment with MEDB to help you with brainstorming.

4 Step to Brainstorming a business idea

SCORE’s article provides four steps to help with brainstorming a business idea.

I have business ideas. I would like a quick overview of what it takes to start a business.

SCORE offers a free online course to help you decide whether you have what it takes to start a business.

Starting a business in Maui County Guide

The County of Maui Office of Economic Development has a guidebook on Starting a Business in Maui County. The guidebook has information on getting started with your business in Maui County, getting licenses and permits, registration requirements, tax information, and other sources.

Customer discovery
Ideating a business model

Need help validating your business idea? Checkout the Lean Model Canvas.

Writing a business plan can be overwhelming, we recommend starting with the business model canvas (also known as the lean model canvas). The lean model canvas is a straightforward tool that helps you sketch out new or existing business models quickly and efficiently, focusing on key elements like your value proposition, customer segments, and resources.

Lost & confused on what’s a Lean Model Canvas? TechStars offers a free course on building your lean canvas.

The Techstars Build Your Lean Canvas course is a structured guide designed to elevate entrepreneurs’ initial business ideas using the Lean Canvas framework. It emphasizes understanding customers, defining problems, and framing solutions, supporting learners through videos, exercises, and practical application steps to refine their business model continuously.

MEDB’s Business Assistance page for information on 1-on-1 consultation, upcoming workshops & webinars.

The Maui Economic Development Board offers extensive support to local businesses in Maui through personalized services, workshops, and networking, focusing on innovation sector growth.

How do I do market research?

Market research involves gathering and analyzing information about markets, industries, competitors, and customers to make informed business decisions. SBA offers a free course that covers the importance of market research in identifying opportunities, understanding customer needs, and assessing the feasibility of a business idea or product.

Things you need to know
Naming your Business

I need help figuring out a name for my business.

I need help figuring out a name for my business.

Issues to keep in mind when selecting a business name

NOLO provides information on issues that you need to know when choosing a business name

Research USPTO to see if anyone is using the business name that you chose.

Before choosing a name for your business or product, make sure that nobody else is using the same mark or name. NOLO provides details on trademark search.

Research the Hawaii DCCA to see if anyone has a business registered under the name you picked out for your business.

The Department of Commerce and Consumer Affairs (“DCCA”) offers a database to search for businesses that are registered in the State of Hawaii.

Finding your target customer
Who is your target customer?

Start by interviewing potential customers to see who fits your target customer profile.

The section on Research Viability, Costs, Key Players (page 5) in the Starting a Business in Maui pdf has more information on researching your target customer.

Have several types of customer segments?

Use this free template on Target Market Comparison Worksheet to help you identify your key target market.

I don’t know my customers. I need a lot of help.

Understanding your customer typically involves learning about their needs, preferences, behaviors, and demographics. SBA offers a free course on Understanding Your Customer, which might cover techniques for conducting market research, such as surveys, interviews, or analyzing data. It might also discuss strategies for segmenting your target audience and creating customer personas to better understand and cater to different types of customers. Additionally, it might explore the importance of customer feedback and ways to gather and utilize it to improve your products or services.

STEP 2
Pick Your Business Entity

What stage is your business?

Types of Resources