They come from the experience and expertise gained by tackling difficult problems.
Many people believe that being an entrepreneur means having an idea and making it a reality. But being an entrepreneur is about becoming a problem solver and is a process. It’s a way of life.
Just think of some of the hit businesses in the world, Microsoft and clothes pegs. Tires and holidays. Children’s toys and make-up!
Your idea doesn’t have to be unique, you just have to find a gap in the market or a fresh way to promote a product. Every business is either a service or a product, or both.
How Do I Choose a Business Idea?
- What can I do that is of value to someone else? (Which skills can I sell?)
- What products do you love and talk to your friends about (dogs, health, money?)
- Can you make a product/gift or do you have a talent? (Playing guitar, riding horses, fixing cars, working out, financial skills, gardening, clothing, skincare, etc.)
- Find a solution to a problem that you have or others have and set up a website to help.
Start with an idea, choose a niche, create a website and work towards success. Let me mentor you to your success!
Ways to Create Your Ultimate Business Idea
Over the years I have heard a lot of people say “I want to start my own business.” While some people wait for the right idea whilst working for a living, others work out a way to start a business on the side.
These exercises will help you get started if you are thinking of starting your own business.
Don’t Lose Sight of Originality
Many businesses are already in existence so you’re not the first to come up with an idea but you could do it better. Talented entrepreneurs spend their time learning how to stand out in their new business.
Marianne Cantwell, the founder of Free Range Humans, says “that it is wrong to believe that an idea isn’t good because there is competition. If you have a great idea, there will either be or soon be competition. Don’t forget that Google wasn’t the first search engine and Facebook was not its first social network.”
Cantwell suggests keeping a list to inspire you, and then looking at how you can add your own unique stamp to that industry or product. She says that “this thinking will allow you to discover more ideas than you can imagine and be closer than you think to success.”
Andy Puddicombe, the founder of Headspace, gave a great TED Talk. Puddicombe discusses the importance of taking the time to look after your mind and why it is so important for the creative process.
He says, “We are so distracted that we are not present in the world in our lives. It is difficult to find the inspiration and clarity needed to create a business plan and make it a reality if you are stressed and busy.
It is possible to discover a wealth of ideas by taking some time to unwind and being aware of the world around. ”
Use your Skillset
You wouldn’t open an accounting practice if you don’t have financial training. The same applies to any business: Focusing on the skills that you already have will make your idea more successful.
Vicki Anstey founded Barreworks after she discovered a ballet technique that transformed her body, posture, and confidence.
She explains that her background in advertising and marketing gave her the skills and instincts to make a hobby a profitable venture.
Find a Solution to a Problem
A great way to get started with a business is by focusing on a problem in your daily life. Next, brainstorm a solution. Ask your friends for their business problems if you have trouble coming up with ideas.
Next, consider how you can solve the problem. Once you have a solution, your friends will quickly give feedback and provide insight into their willingness to pay for it.
Thomas Vles says, “I get ideas on how to do things differently all the time.” He invented Poopy Cat, a disposable cat litter after realizing that his cat did not associate the litter box with a toilet.
You’ll find many mundane tasks and problems in your home or office that a new product can solve. There is a market for any problem that you can identify.
Social commerce is on the verge of becoming a dominant force. You can even provide social media management for marketing other people’s businesses. Create websites and landing pages for people.
Vles asserts that being an entrepreneur does not require you to be the smartest or best. There are many great ideas that remain undeveloped. Get out there.
For Inspiration, Look Abroad
You can look abroad for inspiration – you might find a product that isn’t being marketed locally, or you might discover a way to market an existing product.
Jimmy Cregan, the founder of Jimmy’s Iced Coffee, believes persistence is the best way to recognize an idea with real potential.
He says, “If you love the idea of quitting your job and becoming an entrepreneur that’s great, but you’ll need to find something that you are passionate about in your life even more than breathing.
The idea must be embedded in your brain, like a bug that will not go away. It won’t let you sleep, but will keep you awake at night planning how to bring it to fruition.”
Try Out “Maybe” Ideas
Do not wait for your idea to be perfect – you can waste months waiting for the perfect idea, you need to get out there and give them a try. Do research, ask your family and friends, find a mentor!
Cantwell says that ” sometimes the most brilliant ideas sound less promising than they appear at first, but can be brilliant when executed well.”
Instead of putting off an idea because it isn’t perfect, you can challenge yourself to discover the heart of your “maybe” idea, test it in a short period of time, and then improve it on the ground.
Fear of taking the first step is often the greatest barrier to success. You can dive in and start to experiment, and you will be amazed at the results.
If you are still not sure how to get started, read about my Number 1 Recommendation for starting an online business.
Consider Where You Can Add Value
When I retired from being a professional musician, I decided I wanted to build a passive income on the internet. But I didn’t know where to begin. I took a moment to reflect on the skills I already had. My skills in writing (as a reporter at one time in my life and a teacher) and people skills from performing. I had office and sales skills from helping to build several businesses in Sydney. It was time to do it for myself.
But I had little or no knowledge of website building, so I started researching online. I knew I could learn those skills but I didn’t want to get scammed, so where to start?
Finding the right environment to learn in came pretty easy after I read a review on Wealthy Affiliate versus MLM (after 6 weeks of research.) I joined that day because it was free and I didn’t have to give them a credit card. I figured what could I lose?
Now, 2 years later I have two healthy websites, one in the music industry covering guitar lessons and guitars and another teaching others how to build a healthy internet business in any niche.
I love the fact that no one can say that I am too old, the wrong color, or a woman. If I do the work, I get paid the same! Yeah!
If you’re thinking about a business idea, consider where you can add the most value to the things you do now. Start by listing 10 skills that you are good at. You might find business inspiration by reminding yourself of what you are good at.
Give Something to Yourself or a Friend
Making gifts for friends and making funny T-shirts for my own pleasure has always been a passion of mine. Others would often ask me where I got them.
To see if anyone else wanted your gifts, you can decide to post them online. You would be surprised that people all over the world will start to buy your gift ideas.
When friends asked, what type of business should they start? My advice is to first create something for you or for a friend. This relieves the pressure of creating a perfect product for your business.
Ask your family and friends for feedback. Did they like the creation? Ask them how much they would spend in a shop for the item if they said yes? Start by thinking of a friend, family member, and then make them a gift.
Identify Your Pain Points
Amazing businesses find innovative solutions to specific problems. People tend to move towards pleasure and away from pain. Find out their pains. Ask them directly. Find problems and complaints in Facebook groups that relate to your interests or industry.
Quiz your database. Quiz your friends. Ask your friends what their biggest challenge is. Think about magic wands or genies, and what they would love to have granted.
Better yet, find solutions to your own problems. Consider all niggles you have and how you solved them. Is your solution able to reach a wider audience? What products would you and your team be most interested in? There’s a good chance that others would, too.
Effective Thinking is Key
Causal thinking refers to the ability to follow the pattern of cause-and-effect when developing a business plan.
You look at the problem and decide how to fix it. This applies to all people. Effective thinking involves looking at your assets and determining what you’re uniquely qualified to do.
Your knowledge, skills, network, and extraordinary strengths are your assets. They all contain immense value. You might find it in something obvious but not so obvious to others.
You’ll feel confident in your ability to realize your vision and take it forward. It doesn’t take a genius idea to create something new or invent a service.
You can simply improve on an existing product. Make it easier to use or add something that was missing. You may find a way to make it more appealing to millennials, baby boomers, or any other audience.
Develop Your Ideas Muscle
With use, your metaphorical ideas muscle will grow and strengthen. You can use it to think of ideas for everyday situations. Keep going until you reach ten. It will be simple to remember the first five, but then it gets more difficult.
It doesn’t really matter what you think, it matters that you use your ideas muscles. Make it a daily game. It will soon be easy to create a list with ten new products or start ten businesses.
Keep a list. Note down the name of the business, the idea, and the audience. Even if the idea isn’t good, you can make it into a viable model.
You’ll find your prince if you keep kissing enough frogs.
You may have heard of chess boxing. It is a sport that combines rounds of chess and rounds of boxing. This allows people to reach their physical and mental limits. It is a unique blend of two worlds that have gained a large following across all continents.
Cross Fit and Les Mills International BODYPUMP combine cardio-weight training in a group setting.
Justin Woolverton, the founder of HALO TOP ice cream, started it as an experiment in his Los Angeles home back in 2011. It was easy for him. He was a fitness enthusiast and wanted to indulge in a whole tub of ice cream, without guilt.
Woolverton successfully combined ice cream and health food, making HALO Top the most popular pint of ice cream in America in 2017.
Combining two or more different practices can lead to a great business idea. You could end up with a product or service that attracts both sides and creates super fans.
Change of Scenery
Every great business idea I have ever had came to me while away from home. One was on a plane. The other was in the backyard of a French friend’s home. You will notice a change in your surroundings and how you think.
It’s a survival tactic that forces your brain to get out of autopilot. It is busy processing new information, looking for dangers, and whirling away. This is prime time for ideas. Even walking a new route can inspire fresh ideas.
Change your routine regularly. It should be a habit to be spontaneous. Do not repeat the same weekend twice. Do not do the same walk twice. Stop reading the same books twice. Expand your circle of consciousness to attract inspiration.
You can inspire others by spending time with entrepreneurs. Keep changing things up so you can stay awake, learn new perspectives, and absorb new ideas.
You can find a great business idea by looking deeper at the everyday things around you. You can either deliver something regular in a niche manner or deliver something unique in a common way. A simple message is shared in an innovative way: An accessible solution to complex problems!
Although there are many options for starting a business you can choose from, all of them start with an idea. Take five minutes to think about your ideas today and get creative!
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