Now, you may ask: “Are there any good ideas left? - has everything not been invented already?”. ‘No’ is the short answer. As new ideas are predominantly new combinations of already existing ideas, mankind can get more new ideas the more ideas we have already invented. For some people coming up with a business idea is quite easy, while for others its seems impossible. I believe that anyone who puts in enough practice and makes a conscious effort to notice problems and identify needs can improve their ability to come up with new ideas.
You might also know people who are good at running a business but at the same time are not the ones who get the great ideas. There are people who can’t generate new ideas but are good at running a business. There are also people who can generate good ideas but have poor execution skills. Whether you naturally belong more to the one or the other of these groups, the challenge as an entrepreneur is to be reasonably good at both things – ideas and execution – to achieve major success.
A Grand Master in the game of chess is great at getting ideas in the game because he has a unique pattern recognition based on a deep knowledge of the game’s options. (chess players picture) Like the chess player who evolves from beginner towards Grand Master, you can develop capabilities when it comes to innovation and business; you can train your ability to develop and sort ideas.
Techniques to develop ideas
1. Focus on problems - The easiest way to come up with business ideas is to solve the problems you have. The second easiest is to solve problems others have. These don’t have to be big solutions like Google search or Amazon—they could be much smaller .Many of the products you have become used to using were actually invented to solve a problem. Including Thermoflasks to keep drinks and food warm, sunglasses to protect from the glare, security alarms to alert you that someone has broken in, fire hydrants to put out a fire before the whole place goes up, toothbrushes to keep your teeth clean, and dental floss to fish out unwanted food. The list is literally endless.
Learn about the problems people face in daily life. Talk with family and friends about their problems at work, in sport, with clothing, food, etc.
All you have to do is get good at identifying problems. Focus on your current industry. Think about the existing challenges and develop likely solutions. (Remember, every problem is an opportunity for a new product, service, or company,) picture
2. Solve things that may become problems - you can think of solving problems that will exist, but don’t yet. If you think there’s not yet a market for your idea, you may just be able to create one by appealing to those that, like you, believe it will be a problem in the future.
3. Save people money - The truth is, unless you’re earning a lot of money, it’s still a luxury to be able to make more “moral decisions” to buy from and support better companies and people. This is why, if you can figure out how to save people money, you’ll have a good business idea, new or not.
4. Make people’s lives easier - Remember, coming up with business ideas doesn’t mean you have to focus on inventing new products or services. In fact, you could just as easily adapt an existing service or introduce a new benefit that makes peoples’ lives easier. Start looking at the things around you and asking, how could this be easier? How could it be more intuitive, less stressful, and in general more pleasant to use? You may find that even the tiniest change will create something incredibly popular.
5. Turn a hobby or something you’re passionate about into a business For those of you already actively making or doing something, this may be an obvious next step. Or, if you’ve been doing something on a regular basis and find yourself good at it but don’t think of it as a hobby, perhaps you should think about how it could be a business. Everyone has things they do on a regular or semi-regular basis. If you’re good at any of these things and are looking for business ideas, you just might want to think about turning your hobby into a business . If you find the idea of starting a business intimidating, start with something you know. This way, it might not feel like a business and you’ll enjoy the process as you go.
6. Fulfill a need - Take any of the human needs on Maslow’s hierarchy of needs and think of the products and services created to meet these needs. Then, build on those.
Your idea must be directly connected to any of the need circles , unless you don’t mind taking chances with some random ideas.
7. Read and travel more - Continuing to talk about the role of books, I should stress that good books are #1 source for inspiration and getting knowledge. Ideas usually develop from known facts rather than being plucked from thin air. Most of the top business leaders today like bill gates, warren buffet are great readers. Traveling is one of the most excited and effective ways to get inspired and generate ideas for business. Visit different states, meet new people, learn cultures and spend time sightseeing. Great ideas won’t happen if you are struck indoors all day. Your brain requires stimulation from external influences.
8. Speak with people and collaborate - Another aspect of getting good ideas is simply to talk a lot about them. Some people are concerned about keeping their ideas secret, and to some degree they might be right, especially if it involves a patent application that has not yet been filed. However, typically, it is far better to discuss your idea with a lot of people before you start implementing it. By talking about it and listening to feedback, the idea will gradually mature. Many ideas grow better when transplanted into another mind than the one where they sprang up.
9. Become inquisitive - Start being interested and involved in what is going on around the world. Find 30 minutes a day to read popular blogs, news portals or watch hot news. Learn about startups that are launched and start growing. Becoming aware will not take too much time but can help you to know a lot about different industries and innovations.
10. Stay relaxed, but focused - When you feel that you need to come up with a good business idea as soon as possible and start putting all your efforts into this process, you can hardly create something really successful. If you need an idea, you will find it! . Just try to relax, have more rest and sleep well. But always be attentive to what is happening around you. Stay focused and write down what is happening anything interesting or strange that came up to your mind during the day. Practice it for a week or so and then analyze everything you wrote down. Combine different thoughts and ideas and see if it can help you with your future product or service development.
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