Do you think you already have a killer business idea that you want to start a new business with in Hong Kong? If you do, you may go ahead to run a market research. Find where your potential users and/or customers hang out. Go and build a solution that will solve their problems.
Even if you do not have a good business idea, you can still figure out what issues local people are facing and cannot solve at the moment. Use this as bases to figure out your business direction and idea before your new company incorporation in Hong Kong. The people sitting with the problem without a suitable solution are going to be your potential customers. This would save you time and marketing budget from finding your initial group of new customers.
Start with asking yourself what is next? Go and research about what technology or advancement is coming up, and how the new changes will change the business landscape in the world and in locally Hong Kong. Think about how you can get ahead of this growing curve.
Even not the issues that other people in HK are facing, you may have encountered some problems that keep bugging you for months or years. The worse is that you have not seen a viable solution to this very problem that has been developed locally by any company or individual. But that means this is your opportunity for your new startup.
Depending on exactly what you have learnt from your school and college, and depending on the experiences you have gathered after working for your employers in the past years, you may have gathered some very special skills in your field of work and industry. Evaluate whether it is possible to apply your major skills to your new business idea. There may be certain specific skills that you lack but are compulsory to the success of your business. In this case, you will have to find a business partner to join your startup as a co-founder member.
Consider this very common scenario: Many businesses nowadays (whether locally Hong Kong based or international) in their industries would do things in a single traditional way. The reason is that that has been always the way things get done. The best way to counter this approach is to have a fresh set of eyes from a new perspective which may be able to make all the difference with some new invention.
Alternatively, you may come up with the use of better, less expensive, or faster approach which will achieve the same end result. In Hong Kong’s business world, time and money are both important cutting edges to get ahead of the competitors.