They say a great business does not come from money but a great idea, something that paves your path to your goals. Starting a business can be tough, but it’s more challenging to develop a revolutionary concept that can get your company running. A winning idea can make your journey easier from a start-up to a full-scale company and turn your dreams into reality. However, how to figure out that great business idea? Here are six ways that can help you with that.
Learn to Be Better, Not Different
There already exist tons of businesses in the market. You are not the only person to think of an idea or business plan. People usually waste most of their time thinking about something unique than others. In contrast, the focus must be on how to be better, not different. Take the example of Facebook and Google. Facebook is not the first social media platform, nor google is the first search engine globally. But still, both managed to be the number one in their respective domains.
An Idea that Solves People’s Problems
Have a look around your house or locality. You will find many problems that a new product or service could solve or make more manageable. You can look up to different ideas that many companies have been working on and are doing great. Here are few examples of such problem-solving products/services.
- Some companies understood the misery of working women, single parent, and older people. They understood that managing household chores and work is difficult for them. Hence, they came up with an idea to offer cleaning services at affordable rates. With one call, their team gets on their toes to clean the house and make it neat and clean.
- Some companies deal with the problems of a well-known automobile. They resolve difficulties with popular automobile manufacturers such as Audi’s electrical component malfunction, gasket leaks of Subaru, faulty spark plugs, and other repair services. This guarantees that no inferior materials are used in the repair and replacement and preserves the brand’s authenticity.
- You want to buy spectacles online, but how do you tell if they look good on you? Luckily, there’s a solution to this as well. A company introduced the concept of a virtual try-on that lets you see which product suits you better.
- The founder of a camera company on his vacation surfing got a solution of wide-angle length cameras. They proved to be best in capturing excellent video even while doing water activities. A founder, on his vacation surfing, got a solution of wide-angle length cameras. They proved to be the best at capturing high-quality video even when engaging in water activities.
An Idea that Can Prevent Future Problems
You can think of an idea that would solve problems that might occur in the future. The best example of this is the steps taken by Elon Musk for the predicted problem of fossil fuels in the future. With automobiles sales constantly increasing year-over-year, it is evident that there will be fossil fuels shortage in the future. The idea of electric cars can solve this problem.
Another example can be Artificial Intelligence (AI) and the Internet of Things (IoT) to solve health-related problems. As we continue to rely heavily on technology, health will become a significant issue in the future. Building wearable devices based on AI and IoT technologies can help monitor vitals and other health issue symptoms. Identifying these symptoms early can facilitate diagnosis and treatment process to benefit patients.
Make People’s Lives Easier
Who would go to a restaurant when you can order food at your doorstep anytime? People want things to be easy and quick. Why would I hold a broom and waste my time when my automated vacuum cleaner can do the work? There are numerous examples if you look around. Whether medicines, groceries, clothing, or cabs, everything is at the touch of your fingers.
So, look around you and start questioning yourself about how can that specific work be easier. How can a visually impaired person cross the road without any help and fear in an easier way? Someone must have thought it when there were acoustic signals introduced. When you question yourself about every little thing you notice, that is where you will start developing ideas.
Make Your Hobby Your Business
What can be better than turning something into a business that you already love doing? Everybody has a hobby they are good at doing. You might be good at baking, writing, pottery, social media management, marketing, coding, stage performances, and many more. You will enjoy your work if it is something you adore.
A good idea is the foundation of a good business. Thinking of it cannot be easy. However, once you explore different areas, experiment with what problems you see around, and look for modern uses of old inventions, then your path will be easier.