How to find/come up with the new ideas? And how to use those ideas to create new successful products/ services/ businesses or solutions.
The process of idea generation starts with self-assessment & self-needs; why so? because it permits you to analyze what things need improvement or can be replaced with another greater substitute of it.
Many people or organizations who wants to launch new business/product/service with new idea, are lacking the skills of analyzing the customer needs. If the person or organization is capable enough to research and analyze the market needs; the idea will make its way to be a successful business venture in shorter time.
(What you understood from the above paragraph is researching & understanding the market needs will help you unearthing the new service/ product/ business idea.) But the process is extremely incisive. That’s why we have come up with some steps which will help you in the business idea hatching process;
1. Family comes first
Yes, obviously you will get in touch with your family for financial support after getting the great idea. But before getting the idea, you will need the knowledgeable & experienced personnel for exhuming the ideas; and your family members will undoubtedly help you in it & will also be a motivation for you.
“Unfortunately, many people insist on themselves without any help from their family; and that’s foolish.” Because, they will share their past experiences which will benefit you in the task & will help you buff out all unnecessary ideas.
2. Listen to suggestions from Friends
You solely can hatch some creative or innovative ideas, but you should listen to other’s ideas too; because at certain time you will get out of your creative fuel. It is little wonder that so many good ideas never even come to the attention. Or that so many dies short of development and miles from commercial success.
One of your fried may have knowledge of market, the chances are you certainly will get many business ideas by discussing with them.
“You need to find someone who fills in your gaps and weak points – and vice versa.”
“This way, when you come together as a whole, it works better than what either of you could do individually.”
3. It will help you, what bugs you!!!
A bug in the eye, the frustration imposed by dissatisfaction can lead you to a great business idea. You just have to feel it, work on it and get on with it to get over it.
To be successful you have to be someone who can build a system and not just respond. You don’t get what you expect. You get what you inspect.” Inspect what’s bothering you and see if there isn’t something in there to build on.
“Like Gandhi encouraged, be the change you want to see in the world.”
4. Don’t give up on your hobbies
“From a little spark may burst a flame.” – Dante Alighieri
Who said you can make money by only working in offices & generating great contact with businesses. Come on, that an outmoded thinking. Yes, you can make money out of your hobbies. There are people who are already making & have made a lot of money just by keeping their passion alive.
We are pretty sure that your computer is running Microsoft Windows operating system, uses Microsoft Office for work, and uses Microsoft Office Outlook to send your emails. Did you know that all this started with a 13-year-old boy who had a rare programming hobby, and dared to dream big? And he is currently the world’s richest man, Bill Gates has built an impressive business empire.
After the hard time you face, you may think of chilling with friends and family; which is obvious. But this time could become an opportunity for you to become next Bill Gates.
5. Travel & Keep your eyes open
“Travelling is the only thing you buy, that makes you richer”
Well, you may ask why so? The reason is, travelling will help you learn things which will ultimately open or expand your perspective towards many facts. Traveling is one of the best ways to open-up your mind & brain. Getting away from your native place gives you the opportunity to find yourself; because there you will have the required time and space to let your mind wander and take stock.
“When you see something that piques your interest, ask yourself, what is it about this situation that’s special?” Then narrow your focus so that your mind can enter into the idea. The process of focusing in on the idea often spawns important niche markets.
6. Examine old mice trap & build the better one
The phrase is not literally about mousetraps, but about the initiative to improve somethings that matters. And in this case the meaning is to recognize the market gap with the help of a market research information, and introduce or improve new business/ products/ services to capture new market. But, recognizing the gap in actual services / products & the target customers, needs great understanding of the market.
The only secret of launching or maintaining a successful business is, to recognize when it needs the fundamental change / development. Along with this secret focus on below mentioned points also, to win the race;
Find “white space” opportunities by entering into an entirely new target market with a completely new business Idea / Product / Service; the business will show a dramatic change In the growth.
Generate new valuable ideas for engaging new customers.
Design new or transformed ideas that will help the customers, to get work done more effectively, efficiently and profitably.
Re-conceiving the business model that recognizes the unique unmet needs of consumers.
7. Make your dreams happen!!!
Sleep on your idea, don’t let go the thoughts out of your mind for even a minute; and you will definitely find two or three great business ideas. If you don’t / can’t stop thinking about it, then it worth working on it. The toughest job is wakeup and jot down all those ideas before they’re forgotten. “Sometimes life is all about, risking everything for a dream no one can see but you.”
After getting your business idea, do read our next article on “Business Idea Validation”