Business Ideation en Entrepreneurs, Startups, Business 26/11/2016 · 2 min de lectura · +500

Looking for an Idea?

Looking for an Idea?

Looking for a business idea and wondering how to go about it?

Firstly, you need to understand why a business exists in the first place. The purpose of a business is to provide a solution to a problem. A successful business is one that provides a solution people are willing to pay for. That business is fulfilling a need!

The easiest way to go about finding needs is encountering them in your everyday life. This could be sourced from ordinary everyday problems, or specific problems you encounter in your job or hobby.

​Q. How do you know if you have encountered a need?

Either there isn’t a solution to what you’re doing and you are using a work around, or the product/service that you are currently using doesn’t address your need. That is, you could be developing a business idea that is new or you might be improving on an existing business idea.

Q. What about needs that don’t exist yet?

Identifying future needs and creating solutions is the very definition of innovation. Look at current trends and consider what needs could be filled when new technology, social norms or economic potential becomes available.
​Write all your ideas down!

Write every idea you have down and keep that material close for when inspiration hits you. Mobile devices are great for this, as you can have the sum of your work handily in your pocket. There are plenty of note keeping apps that serve this purpose well.​

​Q. What if I'm having trouble with inspiration?

Change your perspective. The basis of creativity is approaching concepts with a different perspective. Be willing to consider different ideas, immerse yourself in different environments, and learn from different expertise. The best ideas often come from people outside a discipline. It is the ability to come at a problem with a different perspective that leads to innovation, and in our increasingly complex world often groups of people with different expertise is needed to solve our complex problems. Challenge yourself to keep growing through experience.

Listen to people. 
Get outside of your own perspective, and get feedback from customers, employees, friends and family, even the random person on the street. Learn what problems others are experiencing.

Challenge assumptions.  
​It can be amazing what we take for granted. How many times have you heard of a business idea that seemed so obvious in retrospect? Look at your own assumptions and when using existing products or services. Why is something done the way it is? Is there alternative ways it could be done that are faster, cheaper, or easier?

Look to the past. 
​You may be familiar with the saying that history repeats itself. As time and technology changes, old ways of practice can be forgotten. These forgotten ideas, especially when coupled with new technology, can become novel business opportunities.

Make mistakes. 
Making mistakes and learning from them can be a key ingredient to identifying a solution. Don’t fear making a mistake but rather embrace it and learn from it.  

Build on platforms. 
Platforms are increasingly becoming one of the dominant economic models. Fulfilling a need on an existing successful platform means you have a ready and captive market for your product or service.  

Q. Am I too old?

There is no upper age limit on solving problems. With age comes experience, knowledge and more professional skills. It is a misconception to think the majority of entrepreneurs are young. Most successful business people are over the age of 40 as they have the emotional maturity and skill sets necessary to see their ideas executed.

Q. Can an idea be too ambitious?

No. Never. 

It takes big thinking to improve the world and big ideas can be the fuel that keeps you persisting when the inevitable challenges come your way.

Q. I have lots of ideas written down. Now what?

You may have many ideas that you consider great. However, it is generally best to focus on developing only one of them at a time. Selecting the right idea is about making an informed decision and this requires data. We covers this in another article.

Before you go, just remember that everything that you see around you has been thought up by people to help address needs. The next great product or service idea is just waiting for you to grab it!

See our blog for more.

Lisa 🐝 Gallagher 26/11/2016 · #1

Interesting read @Business Ideation, sharing!

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