If you can’t wait to start a business, you’ll need a great idea. Volunteer to find one by incorporating these five methods into your daily life. Ideas worth millions of dollars are constantly being thrashed out by people who think the right way. They do not have special powers; you can replicate their success.
Here are five ways to find great business ideas.
Identify pain points
Large companies solve specific problems in an exceptional way. People move away from pain and into pleasure, so find out what their pains are. Ask them directly. Join Facebook groups related to your industry or interests and use the search bar to find issues, issues, and grunts others are having.
Test your database. Ask your friends. Ask them what their biggest challenge is. Ask them what they are struggling with. Guess what geniuses or magic wands and what wishes they would like to see come true.
Better yet, create solutions to your own problems. Think about all of your problems and how you overcame them. Can your solution become a solution that serves a much larger audience? The term “dogfooding” refers to an organization using its own product. What products would your team like to have? There’s a good chance others will too.
Use effective thinking
Causal thinking is about following the cause and effect model in the conception of a business idea. You think about the problem and decide how to solve it, no matter who you are to take on the challenge. Effective thinking is where you take a look at your existing assets and determine what you are uniquely positioned to do.
Your strengths include your knowledge, skills, networks and unique strengths. Somewhere in them is enormous value. It can be in something that is incredibly obvious to you but revolutionary to others.
Once you find your great idea and understand what you are uniquely suited for, you will be filled with a sense of confidence in your own abilities and where it will take you. You don’t have to imagine a magical invention or create a new service from scratch, you can take something that already exists and improve it. Or cheaper. Or easier to use. Or more appealing to millennials or baby boomers or whatever audience you choose.
Sharpen your muscle ideas
Your metaphorical ideas muscle grows stronger and increases in size with use. So use it. Practice thinking of ideas even for the small, regular events in your daily life. Continue until you reach ten. The first five will be easy to think about, then they will get harder.
Ten things we could have for dinner tonight. Ten people I could call this week. Ten colors, we could paint the bathroom. Ten songs that make me happy. It doesn’t matter what you think about, what matters is that you use your ideas. Make it a game and do it daily. Soon, writing a list of ten new products that we could create or ten new businesses that I could start will seem simple.
Another way to have great business ideas is to have lots of bad ones. Go deeper and keep track. Write down the concept, the name of the business and who its audience is. Even if you know the idea stinks, develop it into a plausible model. Keep kissing the frogs and you will find the prince.
Have you ever heard of chessboxing? It is a sport that alternates games of chess with games of boxing, designed to push people to physical and mental limits. It is the unique combination of two worlds and has developed an audience on all five continents. Likewise, Les Mills International’s CrossFit and BODYPUMP combine cardio and strength training in a group. Triathlon is another example from the world of sport.
Justin Woolverton, founder of HALO Top Ice Cream, created the product as an experiment in his Los Angeles home in 2011. For him, it was simple. He was in good shape and he wanted to eat an entire pot of ice cream without feeling guilty. Ice cream and health food were two niches that weren’t combined effectively before, but Woolverton managed it and in 2017, HALO Top was the best sale pint of ice cream in America.
Good business ideas can arise from the combination of two or more distinct practices. The result could be a product or service that generates interest on both sides to create superfans.
Change of scenery
Every great business idea that came to my mind was done while I was away from home. One was on a plane; one was in the garden of a friend’s house in France. A change of scenery will change the way you think. Your brain is forced out of autopilot; it’s a survival tactic. He walks away, processes new information and watches for dangers. Now is the perfect time for ideas.
Change your routine regularly. Make sure you are spontaneous on a regular basis. Refuse to have the same weekend twice. Refuse to do the same walk twice. Stop reading books from the same authors. Expand your sphere of consciousness to become an inspiring magnet. Spend time with new and enterprising people so that their mindset inspires yours. Always change something to stay alert, hear new perspectives, and absorb new influences.
Looking deeper into the ordinary things that are going on around you can lead to a great business idea. Something regular delivered in a niche way, or something niche delivered in a common way. A simple message shared in an original way. A complex solution shared in an accessible way.
Great business ideas are waiting to be found. Speed up your search using these five methods.