How to come up with a business idea

A lot of people say that they are ready to start a business, they are determined and committed but all they need is that idea. Choosing a business idea can be stressful. To keep things simple and easy below are the key steps that you will want to take to find that perfect business idea.

 

Solve a problem

This is probably the best way to find an idea. Look for annoyances or problems in the world. Where most of the world would just get frustrated, see these as opportunities for new companies. As you go through your day and hear people complain about something, write it down so you can look at it later and come up with a few solutions.

 

Look at what you do in your free time

This has to do with finding your passion. Often times your hobbies are the things that your are greatly passionate it about. When first coming up with a business idea it is good to look at your hobbies because these are often times things that you would enjoy working on and building a company around.

 

Make a cheaper option

In business almost 100% of the time the cheaper option always wins, people are naturally inclined to take the cheaper option. As you go about your life look for things that you think are overpriced and think about how you could make that cheaper.

 

Be ready for an idea

The best ideas often come to you in the most unpredictable of moments. Always be ready for the idea, have something that you can save that idea on, things like phone notes or a pen to write something down. Your subconscious is always at work and will come up with things in seconds at random times. The idea to start Raab Journal came to me as I changing for tennis practice.

 

Give it time

That million-dollar business idea doesn’t come to you right away it takes time. To find the idea you have to continually think about it and look at the world around you with a new pair of eyes. Don’t get frustrated or rush yourself the idea is there you just have to give it time to surface.

 

Look at social media for problems

As I am sure you know lots, and I mean lots of people, like to complain on social media. Exploit their complaints by seeing what a plausible solution could be. This is a good way to find problems in the world. Look at bad reviews on amazon products and see what could have made the customer happier.

 

Find what people want to learn

Knowledge is the most important tool in the world. Find something that you know that others want to know. People are willing to spend money to gain knowledge. Search on the internet the key word “how to” and see what you know that could teach other, do that on twitter as well.

 

Think about “ugly” business’s

When thinking of a business idea most people jump to the popular and cool business like starting a new Instagram or Facebook and other social media sites. Yes these are extremely lucrative industries but they are also extremely competitive and difficult. People often overlook the ugly businesses like trash trucks, port-a-podie business, or owning sewer treatment plant. Lots of money goes into these ugly business’s because they are necessary, people will pay guaranteed.

 

If this process doesn’t seem to be working for you be sure to check out our article on the top business’s that you can start now.

 

Feature Image Credit: Sebastiaan ter Burg/Flickr

About Calvin Raab (21 Articles)
Hello, My name is Calvin Raab. I am the CEO and Founder of Raab Journal. I am 17 years old and I love learning more about the the world of business. Any questions or concerns please contact me at calvin@raabjournal.com Thank you and enjoy!

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