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How to Initiate Great Business Ideas (Must Read)

How to Initiate Great Business Ideas (Must Read)

Business ideas are important. Ideas are where businesses germinate. If you can come up with the idea, the business building part will follow.

Where do you get an idea? Here are five ways that you can come up with an idea for starting your next business.


1. Identify your biggest source of satisfaction.

Any career counselor or job coach will tell you the same thing — ”Find something that you love doing.”

I almost hate to say the same thing, because it’s become so cliche. But here I go. You’ve got to do something that you enjoy doing. If you enjoy what you’re doing, you’ll flourish and so will your business.

What gives you fulfillment and satisfaction in life? Well, you can probably do that — or some variation of it — for a living.

2. Identify your biggest frustration.

Think for a minute. What’s the biggest frustration in your life right now?

Now, what’s the solution to that problem?

There’s your business idea.

I’m not exaggerating, although I am simplifying the principle.

The greatest business ideas are born out of solving problems. Someone confronts a problem, comes up with the solution, and sells it.

3. Think about the world’s biggest challenge — fifteen years from now.

Elon Musk is a forward-thinking innovator. Where did he get his ideas?

According to Musk, “I thought about what are the problems that are most likely to affect the future of the world — the future of humanity.”


4. Start doing anything.

I’ve found that just doing anything is the best and fastest way to the perfect idea.

You’ve got to just start doing something, anything. Try. Fail. Go for any idea, and just run with it until you have to stop.

You might avoid starting a business because you fear failure. But maybe failure is what you need. Maybe you need to fail a few times before you can succeed.

So, go ahead and start now. Do anything.


5. Unplug, and do something different.

An Entrepreneur article by Nadia Goodman, expressed this brilliantly:

New ideas require creativity, which thrives on novelty and diversity. You might find a great idea while you’re on vacation or unexpected inspiration in an experimental art exhibit.

 Boynton, the author of The Idea Hunter said this:

You have to get out in the world and practice behaviors that lead you to new ideas….If you open your eyes, the answer is there, but your world has to be broad enough and diverse enough to feed you the ideas you need.

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