How to Get Your Next Great Business Idea

Apr 06, 2015

It’s the eternal question: where do entrepreneurs get their big ideas from? Whilst inspiration can strike at the least expected times, it can also prove elusive and difficult to find. That being said, there are ways to help it on its way. Follow our advice to get inspired!

  1. Find the right people

    When the right people come together, they can create brilliant ideas. If you take two people from entirely different fields, they can combine their varied skills, knowledge and experiences to produce something truly unique. This is why it can be so important to meet entrepreneurs from different backgrounds: their knowledge might just strike a chord and inspire you to produce your next great idea.

  2. Reinvention is key

    Some people have the misconception that a great business idea must change the world. However, a brilliant new idea doesn’t need to do that. For entrepreneurs, the key is to create a business concept that meets customers’ needs. It doesn’t need to be revolutionary, nor wholly original: most businesses are based on existing ideas, products or services, with just a few tweaks here and there to create a USP.

  3. Get to know yourself

    No business idea is ever going to succeed if you don’t have a passion for it. It is that passion that drives you through those tough early stages to make your idea work. Therefore, you need to be aware of your own skills, experiences and passions before you set off on your journey. To discover more about yourself, you could take a sheet of paper and brainstorm all the skills you have – whether they are business-oriented, or just hobbies. Then, on another sheet brainstorm things you don’t like, or don’t think you’re good at. Once you finish, compare both of your sheets. Now, you can ask yourself the question: “If there were products or services that could make my life better, what would they be?” This could be the very start of your next business idea – one completely driven by your skills and needs.

  4. Look for feedback

    Do you have a million-dollar idea or a complete stinker? The only way to find out is to get as much feedback on it as possible. Talking to people you know can be very helpful; whether it be friends, family or work colleagues. In particular, feedback from customers is essential: if you can tailor your idea to their needs, you may soon find them beating a path to your door.

  5. Remember – no idea is perfect!

    It’s imperative to keep in mind that no idea is perfect at first. When you start off, the important thing is to have the passion to give your idea a go. You can then use feedback and careful planning to help you shape it over time. Above all, remember that if you come across a problem, it doesn’t necessarily mean your idea is sunk – even the best ideas take years of fine-tuning to reach their full potential.

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