Coming up with new business ideas can be a rather complicated process especially if you lack the right motivation. While sitting in a coffee shop table or at your desk at work is a great way to brainstorm when looking for ideas, sometimes it calls for a change of location or scenery to get the kind of inspiration that will birth a fresh, new idea. As such, when looking to come up with that million-dollar idea, it is advisable that you consider going out of your way to look for inspiration outside your comfort zone.
When looking to fill a gap in the market or to improve on a concept that already exists, it is important that you focus on solving a problem that you have identified if you are to come up with a realistic and implementable idea. The idea is to identify a “pain” or “problem” in a specific market, then work on coming up with a concept that focuses on solving this problem. Considering this, you can already see that it is going to be hard to identify any problems that need to be solved in the market if you are not out in the market itself.
As such, it is important that you consider venturing out to learn what people want, what they have, what they do not have and what you can do to capitalize on their wants and needs by coming up with an option or solution that will make their lives easier – be it a new solution or an improved version of an already existing solution. So what are some of the best places to go find solvable problems that you can exploit to come up with great business ideas?
Those living near and around you can be a great source of inspiration for business ideas. Think about your neighborhood’s or local community’s demographics. For instance, if you live in a town with lots of working parents, a child care or errand service could be something that these individuals could appreciate much considering that they are busy most of the time.
Take time and look around your apartment or home. What are some of the things that frustrate you? Is it dusty air vents? Or is it the tons of unraked leaves on your front lawn? If you notice something that is out of place, it highly probably that your neighbors experience the same thing too. Since most people might not have the time to handle some chores as often as they would love to, coming up with a solution like an in-home service business could be something that makes things easy for such people as you offer them a way to have such aspects catered to fast and professionally.
While chances are you won’t open a brick and mortar retail location, scanning through your local mall could give you the chance to come up with business ideas of your own. From your investigations, you could identify areas that are not catered to, allowing you to address them by coming up with products or services that will cover or exploit or improve these areas.
When looking to come up with great business ideas, it is important to understand that your ideas do not necessarily have to be of a professional nature. There are so many day to day aspects and application that need to be addressed, and being practical will allow you to think outside the box to find a unique part of a market that is neglected or unaddressed. This way, it becomes easy to identify areas that need to be catered to, allowing you to come with and provide solutions that the market will appreciate.