Trying to generate a great business idea can be one very tricky task. Reading a massive amount of books or using mathematical questions are all a bit much, don’t you think? So, what is the recipe for a great business idea? And is there even a recipe for such?
Well – there might be and it’s fairly simple really. These are some of the keys to develop a great business idea:
- It all starts with a vision.
All successful entrepreneurs all started somewhere – may it be from scratch, etc.
Create an inventory of your hobbies, things that spark your interest and whatnot.
What are the business opportunities you could generate out of something you love or passionate about?
After all, it won’t feel like work if you’re doing something you love.
Follow your guts. Embrace your ideas.
You have it in you, you’re a creative supernova.
- Think outside the box.
The good ole ‘’think outside the box’’ strategy, of course.
Step outside that bubble zone you confide yourself in and start exploring.
If you feel like you’re stuck on the same page of the book and just having a repetitive idea cycle – then you need something new and fresh to give you inspiration. Explore different mechanisms or entrepreneurial resources to help you find a new learning or work style.
- Go and be online.
There’s no denying that we live in a world where digital age has taken control – and where everything can be accessed online – from the secret krabby patty recipe to tips to a perfect pitch deck.
Use this to your full advantage and don’t waste your time looking at cute panda videos online – I mean, they’re adorable but you have to divert your attention and focus on your business. Search for entrepreneurship, business and industry related communities. Use social media channels and search for relevant posts, tags, etc.
Become a student of your industry and the business world, before you take over.
- Do a market research.
This is somehow similar to number 3. But apart from the usual search for posts, ideas and tips – do your investigation. Research the market to see what’s out there and where your business ideas could fit in with that equation. It is always good to be aware of the market you’re planning to enter.
One tool that could help you gain access to relevant information concerning competitors, markets, investors, stakeholders, partnerships or just good business practices – is – ZoomInfo.
Another great option in terms of business intelligence software is DiscoverOrg.
- See the world for yourself.
Oftentimes, researching is not enough. Thus, travelling and seeing the world for yourself and up-close may help.
The world is massive. And there’s a whole big world out there of great ideas that aren’t yet in your market.
Travelling can inspire you and give you a new set of ideas that you can take back home and give it a new whirl that can possibly be helpful to cater or address the necessities of your market or community.
There’s also places across the world that have ideas waiting to be launched. Perhaps, you could use that existing idea and commercialize it to the market.
One could never go wrong when it comes to meeting new people.
Go to networking and learning events, business conferences, etc – not only will it help your creative idea process but it will also help widen your networking channels and build relationships.
Who knows you might stumble upon an investor — or someone that could help you make an impact to the business world. You’ll never know.
Remember, you’re a creative supernova. Step out and explore!