6 Ways to Come Up with THE Business Idea

There’s never a bad time to start a new business. But first, of course, you need to have a winning concept. To do that, you’ll have to come up with a lot of ideas. And we mean a lot. You’ll be going back and forth to the drawing board, erasing, writing and rewriting. 

Inevitably, you’ll run into a creative block. That’s just where this article comes into play. We’re here to give you some key tips to get your creative juices flowing. So keep reading this article if you’re interested to find out more!

Tip #1: Forget About Originality

Now, we’re not saying you shouldn’t come up with original ideas. In fact, they’re the best ones and the ones that usually work and gain success. But at the beginning, when you’re just brainstorming, it’s a good idea to take a step back and look at what your potential competitors have already done. Naturally, you won’t be the first person to think of a certain idea. So try to focus on what you can do better, instead of how you can be unique. 

Don’t let yourself get discouraged by the idea that something is not good because it’s been done once. If it’s a good idea, there’s a high chance someone has done it before and even found some level of success. Just try to keep in mind that Google wasn’t the first ever search engine and YouTube wasn’t the first video streaming platform

Tip #2: Write Everything Down

No matter where you are or what you’re doing, make sure you have something to write everything down. You never know how the greatest idea will come to you while reading something or having lunch. A great tool for this is an online whiteboard. This is such a powerful tool, especially because you can save everything in the cloud. In this way, you can bring your ideas with you anywhere. 

With an online whiteboard, you’ll also be able to make faster connections and even create different charts to help you improve on what you’ve already come up with. We strongly recommend you give it a try. 

Tip #3: Take a Break

After you’ve written everything down, it’s time to step back and have a short break. Breaks are extremely important, as it allows your brain to rest and soak in all the ideas you’ve just had. This is a crucial step in the creative process and we recommend you don’t skip it. Because we live in such an active world, we’re constantly distracted. 

When your mind is busy and stressed, it won’t be able to support you in coming up with great new ideas. So take a break, meditate and let your brain get some much deserved rest. After that, you’ll have all the inspiration and clarity you need to come up with a viable business plan.

Tip #4: Keep Your Skillset in Mind

If you’re not good at finance or law, you wouldn’t open an accounting firm or a lawyer’s practice. Same goes for any business. You’re far more likely to succeed by doing something you’re actually good at. So focus on the skills you already have and see how you can use those to open up a successful business. 

Of course, every piece of background experience could help. For example, if you’re also good at marketing and advertising, you could use those skills to build brand notoriety at first. Make a list of the things you’re good at and use those to create a successful business.

Tip #5: Solve a Problem

Whenever you take a look around your house or your office, we’re sure you always find ways to do things differently. Maybe you’d use the coffee machine in a smarter way, for example. There are so many mundane tasks that could be made easier by a new service or product. If you manage to find an issue that someone else hasn’t solved already, you’ve got your winning idea. 

Being a good business owner doesn’t always mean being the smartest or the best in the room. Sometimes, it simply has to do with courage. If you dare go where no one else has been before and address an issue that your competition hasn’t, you’re guaranteed success.

Tip #6: Find Something Outdated

A great idea would be to look into markets and niches that haven’t been received updates or innovations in a while. Sure, that sometimes happens because the nice itself isn’t profitable but if you discover something people are actually interested in, we’re sure you’ll have success. 

To do that, start with the most popular markets. See what innovations have been added in the last few years and see if you can’t somehow “copy” that for your niche. See how you can add value to something that hasn’t been exploited that much or that hasn’t received updates in a while. You never know how you’ll hit the jackpot.

Our Final Thoughts

Coming up with new business ideas is a very hard thing to do. There are so many factors at play and you might get discouraged by the fact that other people have already thought about your idea. But try to keep in mind that you shouldn’t always be original – something that solves a problem will always sell better than something completely new and unique but rather useless.

What about you? What are your tips and tricks on coming up with new business ideas? Feel free to share them with us in the comments. We’re sure our readers will appreciate them too!