Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

How To Come Up With A Killer Business Idea

In this day and age, it’s possible for just about anyone to become an entrepreneur. All you need is a great idea and the funds to get it off the ground. The funds part is easier than you might think, thanks to options like car title loans and other sources of funding.

But, what about the idea part? Coming up with a great, creative, and new idea can be a challenge, but it doesn’t have to be, at least not if you can follow a few simple tips.

Look for Problems.

All our lives, we are told to “look on the bright side” and “think positive.” However, many great businesses have started because people noticed something wrong in the world and took steps, such as offering a product or service, to correct it.

Someone who got tired of paying late video rental fees probably came up with On Demand content rentals, just as someone who hated not being able to get fast food delivered probably came up with GrubHub.

While you don’t have to become a negative Nancy, an easy way to come up with creative business ideas is to take notice of issues or problems within the world and to posit solutions to remedy them.

Hang Out with Smart People.

When you were a kid, your parents probably warned you that the people you hang out with can have an effect on you.

And, while Mom and Dad may have meant that in a negative way, it works the opposite way too.

When you hang out with smart, successful, creative people, their ideas, energy, and enthusiasm are bound to rub off on you.

And, who knows? One day, you might just put your heads together and come up with a truly awesome business idea you can create together.

Be Forward Thinking.

Whenever you take advantage of a new product, technology, or service, don’t just assess it as a consumer. Instead, assess it as an entrepreneur.

Say you get a new phone, for example. Your entrepreneur brain might leave you asking what features or add-ons you’d like to see or how the phone could be improved upon in future versions. You could then put your ideas into practice and create a product with all the qualities you dreamed up.

When you ask yourself “what comes next?” or “how could I improve this item?” you are thinking like a true entrepreneur, and you might just generate some awesome and marketable ideas.

Talk to Others.

As mentioned, it’s important to pay attention to the things you think and observe since these observations could ultimately turn into great business ideas.

However, keep in mind that everyone’s brain does not work the same as yours. Thus, other people and their thoughts are a great fount of information for you to tap into.

Just as you assess your own feelings and thoughts about problems you experience and things you see that could be improved upon, ask others about their thoughts as well. And, don’t just ask. Research. Read relevant online reviews and posts and act on them.

When you pay attention to what consumers want, it’s easy to come up with a business plan to satisfy those wants.

There is no surefire, foolproof way to come up with a killer business idea. Sometimes, these things just happen. However, you can definitely tip the odds in your favor by trying these tips and also just opening your brain to be as creative, imaginative, and thoughtful as possible. If you can do that and just keep pushing yourself, sooner or later you’re sure to come up with a grand idea.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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