Launching a business with no clear direction is an exercise in futility. Perhaps you have a few concepts down but haven’t found the one that works for you yet. Maybe you’ve had an idea and been discouraged after hearing negative feedback or witnessing someone else’s failure to implement a similar plan.
This guide was compiled to help you generate valuable ideas, but once you’ve settled on the best one, keep in mind the following:
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o Most people have a pessimistic outlook on life. It’s tough when individuals closest to you are the ones who say things like, “What if…” or “That will never work” when you’re trying to accomplish something new and exciting. Because of this, you must have confidence in your idea to declare, “I can do this.”
o Don’t let rivals dampen your enthusiasm. Having competitors proves there is demand for your product or service. There’s always a way to outdo, outsprint, or outthink the competition. Just because someone else has decided to implement a similar plan doesn’t mean you should abandon yours.
Methods for Brainstorming a New Company Concept
You’ll need your creative juices flowing to successfully implement these methods. Don’t be discouraged by the thought that “that’s a silly idea” may lurk in your mind; instead, write down anything that comes to mind. It’s not too late to ignore them. If you find that it does, team up with a friend or family member; often, several heads are better than one.
FIRST METHOD: WHAT CAN’T YOU BUY?
Consider what you’ve seen abroad that is unavailable in the United States and vice versa. What’s something you used to be able to buy but can’t get your hands on any longer? What have you looked to buy but found to be out of stock?
Potential instances of this include:
o The covers for the toilet seats in the United States. I haven’t run into them frequently over here.
Shoes in a variety of widths and lengths.
Hiring professional pet movers can mitigate the hassle of relocating a pet.
Second Method: What New Opportunities Has Transition Created?
We no longer have the luxury of time, and the world around us now generally appears more dangerous. What kinds of business strategies would you recommend?
Potential instances of this include:
What about a gadget that might be installed in a watch and used by parents to track their kids’ whereabouts?
· Personal Assistant to pick up dry cleaning, handle billing, and schedule construction.
Method Three: Where to Find Buyers.
What business strategies would assist you in reaching clients in their homes, mailboxes, computers, trade exhibitions, offices, on the go, through agents, and over the phone?
Potential instances of this include:
Phone-Based Language Instruction
Guaranteed window cleaning services.
o A restaurant that delivers to offices and allows customers to order online.
Mobile fancy dress service for the client.
Method 4: Which Professions Need Modernization?
Please name some occupations that have a long and storied history. Please refresh them.
Potential instances of this include:
Hairstylists who also serve alcohol
An expert PA in the construction industry who can take care of price estimates and paperwork
o A car repair shop decorated to seem like a hospital
Method 5: Modify an Existing Business Concept
Consider established companies and think about how their models could work for you. Is there a way to use this concept in another industry?
Potential instances of this include:
o An accomplished sculptor of edible works of art
o Mobiles are popular, but few people are fluent in the new technology; can you teach others to use mobiles and other devices?
Sixth Method: Struggling Enterprises
Even if a company is struggling now, that doesn’t indicate it would be under your management. Which types of enterprises appeal to you conceptually, and where could you be able to offer assistance?
Potential instances of this include:
o Amazon prefers to sell its wares exclusively through its website, as opposed to a physical storefront, for example
eBay’s ability to resell undesirable items
Method 7: Tell Me Something That Gets Under Your Skin!
What exactly is it that gets under your skin? Could you offer a workaround?
Potential instances of this include:
Customers waiting on hold can take a quiz while they wait.
o Addressing the issue of loud neighbors
Eighth Strategy: Bundling Products or Services
What innovative ways can you integrate two existing products or services?
Potential instances of this include:
People can schedule food delivery, a movie, and popcorn to their houses at a specific time.
Smoothies and soft drinks in a bar aimed at children.
PRODUCT/SERVICE IMPROVEMENT (TECHNIQUE NINE)
Consider an instance of subpar service; how might you make it better?
Potential instances of this include:
o A place to go if you’re stumped on a present for someone who seems to have everything.
o A dining establishment where customers place orders through keypads instead of communicating with the wait staff.
Tenth Strategy: Acquire a Franchise
For business inspiration, consider franchising. You can either buy one or start your own.
There are now 800 franchises available. Franchise sites like http://www.british-franchise.org/ list many of the available businesses.
Method Eleven: Describe the Scene.
Take a good look around you. What do you notice that could inspire a new business idea?
Potential instances of this include:
An eatery that specializes in appetizers and sweets.
o A cafe where only kids are allowed.
Method 12: YOU!
You can use this as a hidden weapon. Gather a few close associates or relatives around a table and give them a rundown. Act as though you are entirely unknown to them. Tell me about the things you enjoy and those you don’t. In what ways do you spend your free time?
Then have them brainstorm some business strategies for you.
You can use these 12 methods to generate company ideas until you find an appropriate one. If you can’t find what you’re searching for, keep looking, or email me at [email protected]. Please feel free to contact us for a no-cost, no-commitment consultation.
The next step after having an idea is to investigate its viability and effectiveness. We can also lend a hand, as we are experts in conducting market research and penning company plans. If you think we can be of assistance, please get in touch with me at [email protected] or dial 0845 644 9371.
Last, don’t procrastinate starting a business because you’re waiting for the “perfect” idea. If you decide that running a specific business is not for you, remember that you can always make adjustments.
Have fun, and report back to us on how things are going.
Read also: How Do You Determine Whether Investors or a Loan Is Better for Your Business?
