What do people need or have use for / what are people buying/paying for today in your area?
Can you find a way to provide a better, more convenient, easier, cheaper or all four versions of that?
Much like 02. - can you work harder or smarter or both to beat the competition or at least carve out a piece for yourself in that space?
Don't have to reinvent the wheel. If you have a great "new" idea that works that's great. But it seems like many who are looking for the "perfect" business idea are in reality putting to much faith and weight on the idea itself to do most of the work, much like a lottery ticket of luck rather than dealing with reality which can be good enough in most cases