Have you ever thought of a great idea and just knew it could be the start of a successful business? Many people have an entrepreneurial spirit but are unsure of how to develop and refine their ideas to turn them into an idea that sells. Whether you have a formal education in business or are just a go-getter with a dream, there are some tips you should know about coming up with a winning business idea in order to increase your chances of success.
Consider What’s Around the Corner
One way of coming up with a genius idea that people will want is to take a look around at what’s already out there, then start brainstorming ideas to enhance those popular products. Coming up with that next great thing is what every business person or inventor dreams of, and it’s actually quite possible if you use current trends as a springboard for your ideas.
Fill in the Gaps
Some of the best business ideas fill a need that is currently missing, starting a whole new niche in an industry. That’s what Scottish businessman, Ian Mackechnie, did when he opened his first Amscot Financial Services office in Florida. The company now has over 235 locations throughout the state. His business grew because Mackechnie saw a need in the area for workers to have check cashing services, and he decided to fill that need.
Fix What’s Driving You Crazy
We all have things that bug us in life. Sometimes your pet peeve can be the inspiration for the best business idea ever. Tons of products or companies have started from someone’s frustration. It could be due to something that’s missing or needed to make things easier for people. It could be a way to fix a system that is unfair or inefficient. Find that one thing that makes you nuts or causes you discomfort, and use it as a catalyst for devising a brilliant plan to fix it.
Give Them What They Want
An often overlooked technique for finding great ideas that people want to buy is simply to ask them. Start out with the thing that interests you, then find other people who are also interested. Ask them what could improve their experience or make their current product better. Sending out surveys or utilizing other market research methods are always good ideas, as well. Go straight to the consumer to find out what is needed in a certain market, and you’re sure to find a winning idea.
Make It Cheaper
People always want to find a way to save money. Offering a needed product at a less expensive price, while maintaining quality and desirability, is a sure-fire way to win over consumers. Think of something people already want or are currently using, then improve upon it by finding a way to offer it at a better price. You could also improve upon the quality or design of a product and offer it at the same price as your competitors. People would still prefer purchasing your better-made product at the same price.
These are just a few suggestions to get you brainstorming your big business idea. A little ingenuity, combined with a solid business plan, will take you far.