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3 Tips For Finding The Right Business Idea

Do you have an idea of starting your own business? This is how to get direction during brainstorming.

This topic is very interesting to me because I recently started a business. Although I’ve read many books on the topic, most of it is unfamiliar to me. Most of the information doesn’t make sense to me. This is why I will try to frame it with practical and philosophical ideas that may be of help.

1. You must have a solution to the problem that you are trying to solve

Although it is subtle, this has been an important point in my search. The majority of written material on the topic is focused on finding a problem or niche. This is not enough, I think.

You must have personal experience with the problem that you are trying to solve. Although this is not always true it is most of the time. Is it possible to create a driverless vehicle? Yes, I have driven cars. I also see the benefits of owning a car with no driver. However, in my entire life I have never had to drive a car or dealt with any of these problems. Also, I don’t have any reference point to help me start.

Many of my friends are young and serious about starting businesses. However, they seem to be stuck trying to solve social problems that they don’t have. In other words, their best business ideas often come from personal challenges they’ve faced.

Take a look at the majority of American companies. Bill Gates and Paul Allen were both very experienced programmers when they founded Microsoft. They were both programmers and were aware of the potential for operating systems when personal computers were created. Similar things happened to Steve Wozniak, Steve Jobs.

Although I wouldn’t discourage anyone from starting a business they are interested in, I believe it is better to have a personal connection to the problem or idea you are working to solve.

2. Find something that you enjoy doing.

Many authors have mentioned this, even me. It’s simple but it can also be true. You will face setbacks, which is why you should find something that you enjoy doing. You will find it overwhelming and will need to remember why you started.

3.Define a service/product that is required

Water is essential. Accommodation is essential in today’s society. Transport is often essential. However, I do not believe that luxury coffee is necessary despite Starbucks’ extraordinary success. That business would be a concern, especially in an economic downturn. However, I think coffee is absolutely necessary for many caffeine addicts.

Although there is no definitive method or framework for identifying a great business idea, the following three ideas can be a good starting point.