There are so many business ideas! But there are also many criteria to choose your own. How to be sure that it’s appropriate idea and ideal time to start up? How to find business idea that will be yours ideally?
Create an idea or product that you believe can be successful. This is easier said than done. Coming up with a viable product or idea is sometimes harder than constructing a business plan. And idea creating is the most important step in business planning.
I drew up 7 steps for that process.
1. Get your mind flowing. There are many different ways to accomplish this task. Play a game, read a book, paint a picture, play a sport, etc. The point is, do something that gets you thinking and then focus that energy into creating an idea/concept/product. Expose yourself to many different environments that are outside of your comfortable zone. Get more engaged with your hobbies. Expertise will help get closer to a viable business idea. Do not try to force an idea to occur because this will usually result in bad ideas! Take your time, focus your thought, and create the right product for you.
2. Put knowledge in. Ideas are generally developed from known facts; not from thin air. Business builders who generate bold ideas possess a high level of knowledge acquired by study, instruction and experience. Many high achievers have benefited from lessons learned from earlier educational and prior career experiences that have become foundational underpinnings of understanding.
Ideas are born by listening to customer needs and their perspective on new concepts; from data gathered on products manufactured and sold; from marketing research summaries; from the results gained from pilots of programs, and by observing established procedures. For example, an employee may see an opportunity to start his or her new business by automating a labor intensive and costly business procedure, via a software application that an entire industry may purchase.
3. Estimate your limits. Determining these factors will help you focus your thought process. For example, if you are interested in computers, but have no education or experience with computers outside of internet surfing or word processing, it will be difficult to create a marketable idea for computer software components. Keep your thought process reasonable. In other words, do not let your imagination run wild. When you become good at creating ideas, then you can let your imagination do some work, but not at first.
4. Seize upon any inspiration. Sometimes, ideas will pop up at the oddest times. Get a small notebook to carry around with you and write ideas in. This way you can look at your notebook and later begin to develop your idea. Ask yourself, what types of businesses would you use? What are some common issues that your associated complain about that could be solved through a business.
5. Identify a problem. Think about how you can make the world a better place with your invention or business idea. Your business should revolutionize the way we live life, even if it’s just a small way. For example, if you are interested in cooking, maybe you have a problem with the way an oven can dry out a chicken when cooking. Now that you have identified a problem, brainstorm and think of as many solutions as possible. It does not matter how crazy the solution is, just think about them and write them down. After you have written down every possible solution, no matter how crazy, go through the list and find the solution that you feel you can best accomplish. Surprise! You have probably come up with an original idea. This does not mean that you should pitch this idea tomorrow. All this means is that you should develop your idea, mold your idea, and perfect your idea into something you think people would buy if in the market. Also, this way of thinking will get your creative juices flowing. You may find yourself traveling a different path from your original field of interest. If this occurs, follow the thought until completion. You may be surprised where it leads!
6. Understand the customers and time. Study demographics to see which type of customers will appreciate your business idea the most. Businesses generally appeal to a specific set of demographics before they become viral. Decide if your idea has the potential to be viral among a small group of people. Think about your potential competition for the same demographics and how you can set yourself apart from them.
Some innovative ideas will meet the needs of consumers today; other concepts will be conceived now but are not anticipated nor sought yet by shoppers. Consider Xerox Parc, which developed many of the technologies we use today. For example, scientists at the Parc developed laser printers, personal workstations, Ethernet, fiber optics and the graphical user interface. Its mission was to develop the “office of the future.’
Most of these now famous products were imagined more than thirty years ago and came to market long after the initial idea was born.
7. Decide is idea good? Remember an idea is worth nothing until it has been commercialized and there are paying customers. Some ideas will be wildly profitable; others will be a failed dream. Learn to eliminate the bad ones quickly; don’t waste your time, energy and money. In the end, remarkable ideas lead to compelling products purchased by vast markets of enthusiastic buyers. The goal of any dreamer is to determine what idea will ultimately be the best choice among several options.