Business: 5 Ways to Generate Ideas for Your Business

Intro: The Secret to Giving Birth to an Idea

Grasping an idea to existence is not a miracle. It is essential to realize that a business idea can only be
tangible if there are action and management of fear involved. Fear in the industry is inevitable.
Everything is unstable, inconsistent, and intimidating. However, Elizabeth Grant, the author of the
Bestseller title, ‘Eat Pray Love’ and the author of another ground-breaking title, ‘Creative Magic’,
explained that “Done is better than good” – which means to say that getting an idea implemented is
better than creating a perfect output, because nonetheless, you can always make a version 2.0, 3.0, 4.0
(and so on) of your idea.

Seek Ideas from Crisis

The best place to start hunting for ideas is the reality, and the best way to begin is by asking yourself
what you need and by immediately searching for cues of similarity within your network. There is often
an opportunity in crisis. Needs and wants are considered disasters that can be picked up as an
opportunity for an idea.

Seek Ideas through Curiosity

“Sell your dream” can be standard advice for aspiring entrepreneurs and students in practice yet nobody
considered that not everyone had found their ‘passion’ yet – may you be in your 20s, 30s or even in your
50s. According to Elizabeth, “Passion is a tower of flame, but curiosity is a tiny tap on the shoulder – a
little whisper in the ear that says “Hey, that’s kind of interesting.” Undoubtedly, curiosities are more
natural to reach than a tower of flame. The non-commitment involved in chasing curiosities provides a
free-flowing river of ideas and thoughts. Rather than searching for a passion or a dream, instead become
an advocate of pursuing curiosities and become the kind of learner who always asks the question, “What
if?”. Chase your curiosities and passion will transpire.

Monetize your Skills

Anybody with a hobby or a job can 100 percent become an entrepreneur. An alternate idea for chasing
curiosities is by focusing on your current skill set and figuring out how you can contribute to individuals
(B2C) and businesses (B2B).

Benchmark great ideas

If you are lucky to travel once or twice a year, then you are also fortunate to possess an avenue for
ideas. When travelling, always look for common practices and strategies that signal positive
development traits. Additionally, look for ideas in the area that showcases an evident market and do
your homework by researching whether or whether not it has been implemented in your locality.
Johnlu Koa, the founder of French Baker, a European style bakery in the Philippines, first found the
inspiration for the concept during a 60-day backpacking trip to Europe. He noticed the value of artisan
bread shops in the city as he saw himself along with a substantially long queue of customers lining up for
fresh bread twice or thrice daily. When he came back to the home country, he adopted his experience
and turned it in business. It was a common practice in Paris where he traveled to, but it was a new idea
in the Philippines. Technically, traveling can only do a lot to return your investment only if you keep your
eyes open for purposes.

Follow First-Movers in your Area

Alternatively, if traveling seems to be an unpredictable and expensive avenue for ideas, merely keeping
mindful of local first-movers can benefit your company in the long run. First-movers, by definition, are
firms or entities that are pioneers of the implementation and sale of a specific line of products/services.
Most often, they are also the ones who had to set the market for themselves by initiating movements
and awareness to potential advocates. By following after the implementation of a great concept is the
fact that somebody else has already set the market for you (for free) and at the same time, you would
not have to squeeze yourself in an intensively, competitive industry. Conclusively, you would have to be
the second, third, or fourth yet still be considered as one of the pioneers in your locality.

The following steps after generating a business idea is a long journey. Research, planning, and
observation are needed to bind the foundation of your new found concept. There will be a need for you
to be open in crossing-paths because everything that you will be doing is connected to the future
success of your idea.

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References

https://clararobertsoss.com/2018/09/19/passion-vs-curiosity/