Tue 25 Apr 2017 11:04

How to Find a New Business or Startup Idea

A great idea is everything. A great idea is nothing. No mistake – both expressions are true. All the greatest businesses in the world were built around their great ideas. But if you have only an idea, it is nothing before you actually start to act.

The idea – even the most brilliant one – may fail or just may left unrealized forever. In this case it worth nothing. And the idea that was supported with your specific steps and decisions, may turn your business from nothing to the best of the best in the niche. 

Sounds impressive, isn't it? Let's talk about your idea. How to find it? How to define it from other ones? How to start?

The most of ideas turn into nothing. This is a fact. So if you are going to create and develop something great, extraordinary and special, you should find a REALLY good idea. There are not so many stories about "bingo!" or "OMG, that's it!" that have turned their owners to billionaires or made them famous. The most well-known leaders and business owners had a lot of different ideas, they tried and failed many times. That's why you should understand – if you want to begin a startup or a new business, you should spend a lot of your precious time on THINKING.

What signs of good business ideas are common? A great business is not a brilliant idea that is regularly paid by people. It is – first – a solution of some real problem. And the owners of such type of successful projects first found the problem and then developed steps to solve it. 

That is what they are paid for!

Look around. That's not a rare situation, when the idea of successful business solves the specific problem that this business owner has had before.  Look for a problem, what is not good, not useful, what is really problematic in your closest surroundings? Make a deep breath and go into this problem. Is it only yours or other people also have one? How many of them? Every successful business and startup uses deep and wide knowledge about the problem it solves.

What market is yours? Sometimes it is better to sell your product in a very small and specific market niche which is quite empty – all the clients will be your customers with no competitors. But sometimes it is more logical to go to the big and wide market and to get more customers, for example, solving their specific problems for lower price or with better decision than already existing ones. Who will be your customers tomorrow? In a year? In five or ten years? If you are going to launch a startup, not a small business, think about – who are your potential investors? But you also need to make a market study in your niche.

Inspect your skills. Most businesses are starting with the work of one enthusiast or a small group of people. If you have enough money, of course, you can order a big team of workers who will prepare your product or service to launch, will advertise it and make it successful, but most young businesses don't have money. They are created to make money tomorrow or in years. So you should inspect what you and your partners know well, what you can do well, and what help for what money do you need.

There are several ways to discover an idea.

Go spontaneous. Don't forget your notepad – take it with you anywhere you go. The spontaneous idea may come when you are in the bathroom, when you are walking with your dog, when you are making exercises in the gym or when you are going to sleep. If you are in the "idea flow" there may be lots of ideas daily – write down everything your brain will tell you. Why? Because most of interesting ideas just seem to be remembered. You'll go to sleep and lose it in the morning.

Make a storm. Brainstorm it. Sit down for some time with a specific goal – to find out and write down as much ideas as you can. Don't set limits in your brain, set it in time – this is one of the most necessary conditions of the brainstorming. For example, today this may be 15 minutes, tomorrow – an hour. Write down everything, even if your ideas may seem stupid or impossible to realize. Then use this list to underline the really good ones and to set the priorities.

Look inside. You may be an experienced specialist in the specific field. You have many effective and useful skills and don't want to work for the company any more. You are going to make your own lane. What talents, professional skills and insider ideas you can use in your new business? If you are a professional, you have much more chances to become successful in the field than people who knows a little or has to hire the experts. You ARE the expert.

When you think: "That's it!", don't forget to think: "What's next?"

Is your idea interesting to other people or companies, small or big market, is it achievable as a product or service, can it be sold like an idea itself?

What problem or need will it solve? Is it necessary? 

Who are your competitors? 

How will you develop it – create a startup and sell it to the investor, or compose a small business program and start to realize it in the nearest time? 

Do you have knowledge, money, help to make it happen? 

What is your biggest fear about this and can you cope with it?

No one can tell you is your idea is going to be successful. Think about it carefully. Make a plan. Believe in yourself and your idea. And go on!

© Assiomatica SA

How to Find a New Business or Startup Idea

How to Find a New Business or Startup Idea

Posted on 2017-Apr-25

The idea – even the most brilliant one – may fail or just may left unrealized forever. In this case it worth nothing. And the idea that was supported with your specific steps and decisions, may turn your business from nothing to the best of the best in the niche. 

Sounds impressive, isn't it? Let's talk about your idea. How to find it? How to define it from other ones? How to start?

The most of ideas turn into nothing. This is a fact. So if you are going to create and develop something great, extraordinary and special, you should find a REALLY good idea. There are not so many stories about "bingo!" or "OMG, that's it!" that have turned their owners to billionaires or made them famous. The most well-known leaders and business owners had a lot of different ideas, they tried and failed many times. That's why you should understand – if you want to begin a startup or a new business, you should spend a lot of your precious time on THINKING.

What signs of good business ideas are common? A great business is not a brilliant idea that is regularly paid by people. It is – first – a solution of some real problem. And the owners of such type of successful projects first found the problem and then developed steps to solve it. 

That is what they are paid for!

Look around. That's not a rare situation, when the idea of successful business solves the specific problem that this business owner has had before.  Look for a problem, what is not good, not useful, what is really problematic in your closest surroundings? Make a deep breath and go into this problem. Is it only yours or other people also have one? How many of them? Every successful business and startup uses deep and wide knowledge about the problem it solves.

What market is yours? Sometimes it is better to sell your product in a very small and specific market niche which is quite empty – all the clients will be your customers with no competitors. But sometimes it is more logical to go to the big and wide market and to get more customers, for example, solving their specific problems for lower price or with better decision than already existing ones. Who will be your customers tomorrow? In a year? In five or ten years? If you are going to launch a startup, not a small business, think about – who are your potential investors? But you also need to make a market study in your niche.

Inspect your skills. Most businesses are starting with the work of one enthusiast or a small group of people. If you have enough money, of course, you can order a big team of workers who will prepare your product or service to launch, will advertise it and make it successful, but most young businesses don't have money. They are created to make money tomorrow or in years. So you should inspect what you and your partners know well, what you can do well, and what help for what money do you need.

There are several ways to discover an idea.

Go spontaneous. Don't forget your notepad – take it with you anywhere you go. The spontaneous idea may come when you are in the bathroom, when you are walking with your dog, when you are making exercises in the gym or when you are going to sleep. If you are in the "idea flow" there may be lots of ideas daily – write down everything your brain will tell you. Why? Because most of interesting ideas just seem to be remembered. You'll go to sleep and lose it in the morning.

Make a storm. Brainstorm it. Sit down for some time with a specific goal – to find out and write down as much ideas as you can. Don't set limits in your brain, set it in time – this is one of the most necessary conditions of the brainstorming. For example, today this may be 15 minutes, tomorrow – an hour. Write down everything, even if your ideas may seem stupid or impossible to realize. Then use this list to underline the really good ones and to set the priorities.

Look inside. You may be an experienced specialist in the specific field. You have many effective and useful skills and don't want to work for the company any more. You are going to make your own lane. What talents, professional skills and insider ideas you can use in your new business? If you are a professional, you have much more chances to become successful in the field than people who knows a little or has to hire the experts. You ARE the expert.

When you think: "That's it!", don't forget to think: "What's next?"

Is your idea interesting to other people or companies, small or big market, is it achievable as a product or service, can it be sold like an idea itself?

What problem or need will it solve? Is it necessary? 

Who are your competitors? 

How will you develop it – create a startup and sell it to the investor, or compose a small business program and start to realize it in the nearest time? 

Do you have knowledge, money, help to make it happen? 

What is your biggest fear about this and can you cope with it?

No one can tell you is your idea is going to be successful. Think about it carefully. Make a plan. Believe in yourself and your idea. And go on!

© Assiomatica SA