What's the process one can go through to come up with a winning idea? What considerations should the entrepreneur pay heed to (like resources, market) to figure out if it's something that's possible with a high chance of succeeding?
The best step is to look at things in your everyday life, and figure out what are the pain points, or what can run smoother. Your best chance to get a business idea isn't from something that you know nothing about (for instance, I'm sure there are great ideas to start businesses in aircraft production, but I know nothing about that industry, so I wouldn't know). What's going on in your world that seems like it could be easier? Think about everything you do on a daily basis and look for improvements. Then think through your head what those might look like. If you'd like to chat through this process, let me know!
Answered 6 years ago
This is literally one of my favorite things to do! The best thing to do is honestly be empathetic and listen to people, observe and just think. The truth is you can really create anything in this world with the proper strategy. Listen, to what people complain about, watch what people have a hard time with, spend time not constraining your thoughts on what is possible or isn't. Lastly, research the hell out of stuff, don't just take the immediate answer for things and don't be constrained by an idea, let it evolve with more knowledge and time. If you can start somewhere you already know, such as if you have worked in the health industry, do it. Your competitive advantage will be your industry knowledge.
I'd love to help you form some idea's, so reach out to me if you are ready to start!
Answered 5 years ago
As a Business owner myself, I would offer that the first step in this process should be some self reflection. Reflect on what your passions are, what makes you happy, what do you enjoy doing? You are going to step into an arena where for a considerable period it's going to be all on you or the select few who decide to partner and start this journey with you. I say that for a couple of reasons. Number one, is the fact that this will not be an easy process. There are too many challenges along the way for to not be a) passionate about your work b) enjoying the work you're doing. I would argue you that at 80 percent of entrepreneurs start in search of fulfillment that the mundane world can't offer.
Next after I've found what my passion is, I need to discover what's my niche in the industry. Where is my wheelhouse so I can get in and start on my small piece of industry. Here is now where obviously resources like finances, a space to work from, and customer/client base have to be then defined.
After that I would then begin a process to define and identify myself on digital and social media platforms. Everyone tends to take the easy way and Facebook, I personally use linkedin, twitter, and a blog on my own website. I also use platforms as such.
Answered 5 years ago