You might have heard that all you need is a great idea? But how do you become a problem solver - and how do you come up with a business idea? We listed 4 important things to think about when creating your business idea and also what might be a good idea to try before you register your company.
There are tons of great ideas that are being pushed out to the market every year. Unfortunately, not even a third of them reach success. Why? Most people and companies have these things in common; They all have challenges/problems and desires. How great you succeed is all dependent on how well you can fill those needs or what helpful solutions you can provide - and maybe most importantly, how passionated you are to be the provider. There is a lot of different aspects that can affect if a business succeed or not. The first thing you should focus on is to have a clear and defined target market, a clear and defined problem or desire - and a clear and defined solution. Then, you should ask yourself - will I enjoy working with this? When you're truly passionated about what your building, the odds will be in your favor.
Being solution-oriented is a Habit - Look for possibilities everywhere and become a problem solver!
Most people think that you have to be born a problem solver. You don't. "Problem solving" is something you can practice and you can practice it daily, you just need to change your habits and the way you typically see things. Most people bump into problems or challenges every day - big and small. What most people don't do is stop and think; "How can I solve this problem?" or "What possibilities do we have in front of us?". To become a problem solver, try think like that for at least 30 days to make it a habit. Acknowledge every time something bugs you. Every time you find yourself complaining about something or seeing the down-side of something - ask yourself those two questions and see how your brain respond to it. You will be surprised how many new ideas you will get and how many new possibilities you will see. That is how inventions and businesses are born.
4 things to help you form a Business Idea:
What are you passionated about? Many people don't know what they are passionated about and a lot of us don't even know what we are good at. "What are you good at?" - is a hard question. Most of us are pretty shy when we get asked this question. Instead, try to ask yourself; What things do I love to learn? What do I typically google? What do I typically spend money on? What do people ask my advice on? All these questions can help you figure out what you actually like to do, learn and talk about. Most of the time, the answer to what you are good at is right underneath your nose - you just don't know how good you are at it. Most of the time we don't know how good we are at certain things because we don't acknowledge everything we learn. Think about it this way; If you spend most of your time learning about mindset (you go to seminars, you read blogs, you follow research, you google, you listen to podcasts) - and your friend spend most time learning the same way about cars. Who would be the go-to-person when your other friend have a question about mindset? Who would you go to if you had a question about cars? Many of us know things that we assume everyone else already know - and most of us have no clue how good we are at something.
Who would be your target market? To figure this one out you should think about what kind of people you would want to work with. Is it; women, men, adults, children, parents, a business group, dentists, entrepreneurs, car owners, etc..? What group of people do you feel most connected to?
What problems or desires do they have? Do they have problem finding clients? Do they have problem losing weight? Do they desire better technology knowledge? Is their car always dirty and they don’t have time to take it to the car wash?
Solution to their problem. Is your target market dentists who are struggling to find new clients? The customer will most likely be more receptive to their service when marketing through social media such as; creating facebook-ads to attract potential clients. Another target market can be car owners who don't have time to take their cars to a car wash. The solution might be to find a mobile car wash service that would accommodate to their needs. Look for solutions.
Exercise - Fill in Blanks
I help _______ To________ By________
I help (people or groups you like to work with):
Example: Dentists, Parents, Teenagers, Men, Elderly, People with Weight Problems, People with Smoking Addiction, Entrepreneurs, etc.
To (what is their problem/desire?):
Example: get clients, get their kids to sleep all night, better dating life, quit smoking, loose weight, become confident on stage, learn more about technology, get better time management etc.
By (solution to their problem):
Example: Building a marketing funnel, offering them coaching, working with acting techniques, implementing better routines, setting up their IT software correctly etc. Last but not least..
Sell before you build
Most people think that you can't start working until you have legally registered your company. That's a common misconception. It's not necessary to focus on the paperwork and registration process before you even know how your market will respond to your idea. Try selling it - iterate and improve. Establish and recruit clients to your company. When you get your first client and have proof of concept - send in the paperwork and send your first invoice! This way you can test your business idea and the markets need for it before even starting it. It may seem too simple but its a very smart way to start - plus it saves you tons of time!