How to find good business ideas for startup?
I could easily give you tons of ideas but it would be of no help to you… In fact, to find the best business ideas you should ask yourself these seven questions instead (in no particular order) :
- Is there a problem that I can solve?
- Look around you, there are tons of things that don’t make sense! This one is boring but you’ll get where I’m going: many people who have cats are old and these clumping cat litters pouch are so heavy, why not deliver it to their door since they have to buy it on a regular basis anyway?;
- Do I have a way of differentiating myself from the rest?
- Please don’t try to create the new Facebook, Uber or AirBnB! You’ll probably be thousands having the idea of being the AirBnB of unused parking lots…;
- Are my target customers ready for my idea?
- Launching Uber before people start to massively use smartphones would have been a little harder…
- How do I make profits out of it?
- You have to figure out your business model. You may have the best idea in the world but if you end up creating yourself a job, you might be better off doing something else.
- Does it motivate me enough that I’d be willing to dedicate a lot of my time and efforts in the beginning and eventually quit everything else when it takes off? Often the problem is not so much about the idea… but more about how focused and committed you will be towards your idea as you move on. It’s like that gym membership you take at he beginning of every year and end up not using after the first few weeks because you’re suddenly “too busy”. There are no magic pills, to get the result, you have to show up day after day!
- What are my strengths and weaknesses?
- Before you dive headfirst into a new venture, it’s best to know yourself very well. Especially if you’re going to enter into a business partnership! This will not only help you find the right persons for your team to complement your weaknesses but may also avoid some arguments if you are aware of who you are as a person.
- Why do I want to start a business?
- Today StartUps are glorified but, it isn’t always as thrilling as it may seem. It is never as simple as it seems and you will run into many obstacles, you better know why you’re doing what you do because you will have many tough sacrifices to make and decisions to take along the way! If you don’t have clear goals in mind and they aren’t aligned with your values you’re wasting your time. Also, you don’t necessarily have to start a business to be an entrepreneur… Buying an existing business or being an “intrapreneur” can be equally rewarding and less scary than starting from scratch!
After you’ve answered these questions, talk about your project as much as you can with different individuals. There are no such things as “the idea”, as long as you haven’t taken action. You’ll get TONS of insights and ideas that you would not have otherwise. Talking about it will allow you to see what people think about it and, most importantly, they understand what you plan on offering as a product or service. Keep your mind and eyes opened and pay attention to your day to day life. I bet you’ve complained at least one time against something that didn’t make sense to you in the last week, you’d be surprise how many ideas for new businesses you will be able to come up with! Just this week, I went at an event where they give you a coupon for your first drink at the bar. Since I never have change on me, I always feel embarrassed not to tip the bartender. Why isn’t there any fixed price PayPass hub on the counter where I could tap my phone or credit card to give a dollar or two to the bartender in order to avoid feeling bad about not tipping?
Original article on Quora.com