Top 10 ways to Generate Great Business Ideas

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To become an entrepreneur, one must have an enterprise and that is usually where the challenge arises. What is the drop-dead business idea that is going to set the world on fire? Great business ideas are all around you, just open yourself to the possibilities, and you are bound to find a winner. These can be the first steps in your search for the business of your dreams.

Great Business Ideas

  1. Start with family. Family is the foundation of society; they can also be the foundation of a world-changing idea.
  2. Get a little help from your friends. The original idea may not be yours, but like Steve Jobs and Steve Wozniak, you can partner with a friend and achieve astounding success.
  3. Look at all the things that bug you. If King C. Gillette had not been fed up with the tedious process of sharpening his straight edge razor, he would not have founded the massive disposable razor industry. When he took his idea for a portable razor with a blade that could be used several times to a research university for assistance, engineers questioned his sanity. Gillette followed his instincts and the rest is history.
  4. Tap your interests. Turning your hobby into a business is a no-brainer. You just have to figure out how to get other people interested in it and monetise it. When you are doing something you love, it is never considered work.
  5. Travel. Traveling opens your eyes to a plethora of potential business ideas. Business models can be translated from one state to the other, country or continent.
  6. Keep your eyes open. Zero in on the idea. Understand it. Research it. Take ownership of it. Create a niche. Rule your niche.
  7. Examine old mousetraps, and then build a better one. Stop complaining about what is available. If a product or service does not meet your own high standards, create a better one.
  8. Take it to the streets. Take a stroll through the streets while keeping numbers 2 and 6 in mind.
  9. Sleep on it. Many people ignore their dreams, and some do not remember them at all. The tough part is crawling out of bed in the dead of night to jot down those great ideas before they are forgotten.
  10. Check out the Net. Web surfing is a fun way to log on to potential business ideas. Make it a point to check out various sites daily. It may trigger an idea or concept you never thought of.

Culled from Entrepreneur.com

Have you any thoughts on generating a great business idea? Drop a comment below and share your knowledge, who knows? The Steve Wozniak to your Steve Jobs may just be passing through!

© 2015 – 2017, Jennifer Nkem-Eneanya. All rights reserved.

5 COMMENTS

  1. Hi Jennifer,

    thanks for sharing. I have a contribution to make. In one of my articles I said something.

    Ideas come from whatever, but specifically when you talk about new companies. Ideas

    generally, when I said generally, I mean at least three quarters of ideas for new

    companies, whether they be pet shop, or music shops. Or tele-communication

    companies, ideas come from your direct experience, and job. Meaning, your current job.

    You tend to understand that market well, you understand the customers well,

    you understand the product, you understand the competitors. And generally, you can see

    a whole demarket, something that is not being fulfilled.

  2. If you want to be a successful business owner, you have to build first and foremost your business to prosper. These great tips on how you can be a successful business owner can be very helpful. All who achieve success, they all started from zero. Before reaching success, many problems you’ll need to encounter. Many things could happen before you achieve your goals. If you have lots of experience on being an entrepreneur, these things is quite simple for you.

  3. Yes indeed. Traveling is an eye opening experience which broadens the horizons of thinking . You know, even supplementing your night with book can show miracles out of you.
    As said, even business portals like IndiaBizClub can drop hints in your mind by exploring other businesses

  4. I have read your all the content with business ideas. I am a new business and All who achieve success, they all started from zero. Before reaching success, many problems you’ll need to encounter.

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