A look into how business ideas are formed and thus, the creation of a startup!
You’re probably one of those people who has all these creative ideas for projects in school, or maybe are very artistic, and just innovative. Those with an innovative mind can easily come up with awesome business ideas to create a startup company. If you’re not one of these people, have no fear as there are many ways to categorize yourself. Not everyone is the same, but there are many different ways to achieve the same thing, which is coming up with that awesome idea! Here are a few of the categories of how ideas come to life:
1.) The “Eureka” Idea
This is the lightbulb turning on in your head idea and usually arises while you’re sleeping, in the shower, on the toilet taking a dump or maybe just doodling on your sketchpad. It’s as if you came up with something completely new! Everything seems to make sense and you realize that your idea has a marketplace, it’s innovative and new, and it can be easily fabricated.
These ideas are sometimes one of the best ideas, but most of the time everything is spur of the moment and you don’t take into account all the little details such as researching about the market’s wants and needs, discovering that there are other competitors who have thought of the same idea so how can you make yours better; even fabricating the idea and trying to execute it, you realize that a lot of money is going to be needed. Focus needs to be achieved if you want your “Eureka” idea to be viable.
2.) The “In the Know” Idea
These are usually the ideas that stem from a prior knowledge base about a subject or process that you have interest in. Examples could be that you notice how inefficient some production methods are for certain products and you develop an idea about how to improve it and make it both cost efficient and easy to implement. Since these ideas are more focused and there is a prior knowledge foundation, these ideas are usually easier to work with.
3.) The “I Have No Idea What I’m Doing” Idea
These ideas come from those who want to be a business developer and innovative entrepreneur but have no idea what to do. This is the category you fall into if you have not experience either method 1 or 2. But don’t lose hope, because most of the time this is where most people fall.
What to do from here is to evaluate what is it exactly do and service? Think first how large of a scale do you want the idea to encompass, if you want to be an influence on a national and international scale or maybe just keep it local and small. After deciding which category you fall into there, start thinking of ideas and hobbies that revolve around your life. What are things that you typically like to do and may there is a way to make a business around it where you can actually sell something, be it a product or service. Sometimes some of the best ideas come from doing something that you already loved.
Once you developed your business idea, then your next tasks include determining a marketplace. Who are you going to sell your goods or service to and how viable is the idea? One of the biggest things to test this theory that most people need to realize when trying to sell a product or provide a service is that it must provide value to the consumer. If your product has no value or use for someone then why would anyone buy it? Just because you value your idea does not mean someone else will, so it helps when you put yourself in the consumer’s point of view and ask yourself if you would buy it.
Again, these are all general ideas and pathways that you can follow when trying to come up with a business idea but if there is one thing I am sure about is that no one idea is easy. The life of an entrepreneur and coming up with new ideas is hard work and requires a lot of dedication to achieve your goals. Everyone has an innovator inside of them, it just requires you to bring out the passion, dedication and the ability to execute an idea. With these qualities, anyone can change the world!