10 steps to generating your big idea

10 steps to generating your big idea

10 steps to generating your big idea

10 steps to generating your big idea

Whether you are simply too busy to think, feel that your brain is stagnating, 

or are somewhere between the two extremes, generating the big idea is a daunting challenge.

Here are ten ways to start the creative process.

  1. Buy a notebook – keep it in your pocket, beside the bed and everywhere you go. Ideas can strike at any time Write them down.
  2. Ask a friend who knows you well. Ask what they would buy from you, what you are good at and what they feel you should avoid.
  3. Beware of the hobby habit – many people feel that their hobby holds the key, but are there enough people who share your passion and have money to spend?
  4. Watch the weather – will your idea appeal to your customers all year round? Selling Christmas decorations or hiring bikes might not keep you in groceries for a full year. Perhaps you could run two seasonal businesses.
  5. Read books – as well as reading this one, pick up some biographies of entrepreneurs you admire. See how they started, often in a small way, and then became household names. What can you learn from their experience, and apply to your own situation?
  6. Open your eyes – all around you are people running businesses. 

10 steps to generating your big idea

What do you think you could do better?

You may not want to run a coffee shop, but thinking about how the one you visit every morning could improve will help you think more entrepreneurially.

7. Stroll in the park – and other places you only rarely visit. Watch people.

What’s missing? Observe, if possible, your potential customers.

How can you influence them?

  1. Travel-you don’t need to go far. Visit local trade fairs and see what is promoted there. Pose as a buyer and ask questions. Compare your business vision with what you are experiencing.
  2. Check your CV-most people actually start a business in an area in which they have worked before. Don’t this for granted, but accept it as a possibility all the same.
  3. Shake the pig – emptying your money box onto the bed is the ultimate reality check for the budding entrepreneur. If Auntie Violet has just died and left you a million, your choice is wide. For most of us though, cash will constrain our start-up plans.

    10 steps to generating your big idea

    Every business you can think of was started as a result of someone’s inspiration.

    The initial idea will have been prompted by many inspirational factors.

    Unless you have been in business before, each good idea you generate will prompt a doubt.

    The battle for supremacy between inspiration and doubt creates the tension that urges exploration.

    Only the foolhardy start a business without considering the downside as well as the opportunity.

     

    MARK

    Newly married with a young baby, Mark had recently moved house and was annoyed that some of their treasured wedding presents had been damaged in transit. ‘We hired a van and moved ourselves, packing our stuff in boxes we’d saved up from the supermarket. Some stuff got crushed when I had to brake sharply and that really upset my wife.’

    The next week, buying shelves for their new home in a DIY store, ark spotted piles of plastic crates. ‘I wish we’d had those when we moved,’ said his wife. That innocent remark got Mark thinking and resulted in him setting up, with his friend Jonathan, a business that hires out plastic crates to people moving house. Van hire companies and estate agents passed on his leaflets and the new business was born.

    Part-time or full-time?

    There are strong arguments both for and against starting your business part-time. On the one hand you are reducing your risk by starting in a modest way, and on the other you are limiting your chance of success by spreading yourself too thinly.

    Here are some points you might consider.

    Full-time

    Part-time

    More time to work on your business Always there for customers

    Big commitment

    Might look foolhardy

    Less need to earn from the business

    A danger of missing opportunities

    Can encourage complacency Might look risk averse.

 

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