Every startup begins with an idea. Be it was Google, Microsoft, Facebook, or any other company that we see today was once an idea. A potential startup idea marks the starting point of any business or a startup.
An idea is a seed that tucks huge possibilities hidden in itself. When nurtured, it can scale up itself and spread in the world, make an impact or build revenue sources.
Finding a good business idea or startup idea may take a long for an aspiring entrepreneur. Often, entrepreneurs spend a lot of their valuable time; looking for a good startup idea to start!
Are you the one struggling to get startup or business ideas? Are you someone who finds it hard to generate new ideas for startups?
Then, you have come to the right place!
Ideas are needed from starting a startup to managing it successfully. And, you may not always be fortunate to meet amazing ideas accidentally. And, therefore people have developed processes to look for new startup ideas.
At NxtDecade, we realize that generating new startup ideas can be challenging. Founders, co-founders, team leaders, frequently encounter problems that could be solved easily with the right and potential ideas.
In this article, we will discuss some of those ways to help you generate new ideas; for your startup or in your startup. But, remember that the success of a startup idea depends more on your proactiveness to act and execute on it and not on how great that idea is.
Let’s begin with #1:
1. Look for the Problems & Solve it
A problem-solving attitude is the foremost quality of an entrepreneur. It’s a key trait that defines the mindset of an entrepreneur and changemakers of the world.
Problem-solving nature is also the reason that makes different entrepreneurs from businessmen. An entrepreneur struggles to make an impact in the lives of people by solving their problems while a businessman struggles to develop new and better sources of income.
Businesses and startups aren’t the same. Read more on Business vs startup
Trying to solve existing problems is one of the popular methods to generate new startup ideas. Better the solution you offer, the better your startup idea will be demanded and appreciated.
Don’t look for ideas, look for problems and then struggle to solve them.
How can solving a problem give you a startup idea?
By solving the problem of a community of people, you are providing them a service/product that they are in need of and not something that you want to sell. If you follow this startup technique, you don’t have to incur heavy costs on advertising or marketing. Your solution will automatically be valued because it’s in need; financially and ethically.
Meet Phyllis Kyomuhendo, founder of MSCANUG. You can’t find a better example of a problem-solving attitude than her. Her care for others and problem-solving attitude made her take a bold entrepreneurial journey with the idea of helping the pregnant ladies in Uganda, who have limited access to resources and facilities. She tried to reduce the infant mortality rate by providing scanning facilities to women in remote areas.
Look around the world, site out the problems people are facing, and think of ways to solve them. The bigger problem you solve, the better the recognition you receive.
To get a problem-solving attitude, follow the following rules:
- Look into the present and future. What was past is gone (but take lessons).
- See problems as a challenge, not as a burden
- Opinions and facts are not the same. Judge with clear distinction
- Avoid arguments. Focus on work and look for impact
- Don’t rush to solve. Cross-check the solution to avoid more damage.
- Discuss experts, take advice, read or hear other’s opinions
- Remember, the first version of your solution may not be the best. (start and improve later)
2. Add Something to an Existing Idea
New business ideas can be generated from existing business ideas by properly analyzing and manipulating them according to the new demands, technology, customers, and trends.
This is similar to evolution. We turned humans from apes, simply by adding something new, bit-by-bit for ages. And a new species was born!
Similarly, when someone succeeds in adding something considerable and valuable to the existing business concepts, it leads to a new form of business. This can be anything; a new piece of code in your existing software, a new set of features to existing services, or products, or simply a new way to deliver it.
This is well-practiced by the companies to re-establish themselves and expand their business lifespan. In this, a specialized team works under Research and Development (R&D) domain to search for such ideas.
So, don’t ignore old ideas, polish them. And that old idea might shine brightly for you.
To use this technique to generate new startup ideas, follow the following steps:
- Figure out your niche in which you want to set up your business or startup
- List down all existing business models, or existing startups
- Find out their struggle, or customers’ pain points.
- Try to solve those struggles or pain points with something new
- Check the possibilities and build your new startup idea.
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3. Put Your Mind On Work!
If you are thinking about how to get an idea for your startup, try putting your mind to work. Our minds are meant to find out new ways. The neurological connection is far more complex than the stars and galaxies out there.
All of these neurological connections have information and data flowing through them. And, at some point, they collide and connect to form new ideas. Normally, these new ideas remain buried inside our minds unless we choose to stimulate them.
Give yourself rest, take sleep, go on a walk, take a cold shower; and slow down your conscious fluctuations in your mind until your subconscious mind takes over some control to connect with your conscious self and shift some of those hidden ideas in your mind.
Be ready to note them down once those new, amazing ideas spark in your mind.
To unlock this profound capability of your thinking power you need to follow these steps:
- Never restrict your mind from wandering.
- Always have pen-paper to note down the popping ideas.
- Feed your mind with information until it starts purging out ideas
- Debate with your inner self about the ideas
- Visualize your ideas using a sketch or painting.
- Don’t put too much pressure on finding an idea
4. Brainstorming
This is a great way to find an idea for your startup as multiple individuals are involved with different perspectives and the mind is more active during arguments or debates.
“Brainstorming is a group technique in which the members throw back their arguments on a common topic. In the middle of arguments, ideas build up and can be further discussed and used.
Thus, ideas are born much frequently in such healthy discussions.
To do brainstorming, first of all, you need an intelligent, reasonable, and positive-minded person, or a group of such people. Set up a peaceful environment, share the topic, tell the needs, take a pen and paper, and start by putting forward your opinions and sharing the challenges.
5. Look Around Trends
Ideas get monetized depending upon the level of hard work you put in and the degree of demands it has in the market. Trends are something that is popular in a large portion of the population. Hence, an idea that incorporates trendy services and features will have special chances of success.
Such ideas are not hard to deduce. Just be attentive in detecting trends. Once you see it coming, think over it, and try to build an idea around it, by adding and fusing it with other existing ideas.
6. Convert Your Hobby Into Business Idea
Hobbies are something that we do, not as a duty or compulsion but as a choice. And, some people are lucky to have an opportunity to convert their hobby into an income source.
The level of interest and engagement a person has in their hobby defines how easily it can be transformed into a startup idea.
For example, PortraitFlip, a startup that converts your image into a memorable painting. Painting is more like a hobby that PotraitFlip has intelligently transformed into a startup idea.
So, check out your daily routine, find out what you love to do, and then figure out ways to turn it into a useful product/service to people. This way, you can turn your hobby into a new startup idea.
7. Follow the Demand: Go With the Flow
If you can’t think of any creative ideas, just follow the demand of the people. Don’t focus on what you want to provide, rather see what people need.
Don’t think of it as a business but rather meeting someone’s needs and that is exactly what will help you gain success. Follow the demand and supply chain. Supply what is in demand in the long run.
Conclusion
Ideas play hide and seek, and you need to learn to win this game.
The above article shows techniques on how to get startup ideas. Try out the methods mentioned and always remember, finding ideas isn’t that hard.
Generating startup ideas in 2022 is not difficult, the real challenge lies in analyzing the potential of an idea, implementation of it, transforming the idea into a reality.
Estimation of your startup idea and its execution is more important than what the idea is. Once you have the idea, focus on getting funds for your startup. Grow and make your idea come true.
I hope these techniques to find new startup ideas prove to be useful. Let us know your thoughts in the comments.
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This shows how a great idea is needed for the next revolution but its the execution that matters.
Wow, this is very appreciating and amazing content you have written…..
its very helpful for new leaders whoever gonna startup🤩
hii
such an
amazing article and site on start-up
When we put our mind and everything,it will certainly come to life oneday,thankyou
Great post! Whenever I think about something that could be the ‘next big thing’ I find out that it’s already been invented.
All the best, Michelle (michellesclutterbox.com)
Very informative
Amazing work.
The only way to discover your true potential is to get out of your comfort zone…!
🙃🙃
Very helpful!
Thats a great and informative article. Keep writing and sharing such article for the benefit of readers.