One common question that I am always asked by prospective entreprenuers over the years as a business consultant is ,” what business can I start with this amount of money?” In essence, every prospective entreprenuer seeks business ideas that would be successful and would grow into a multi-million dollar company.
We know how important it is to get the right business ideas and so we have published several posts about list of possible business ideas you can adopt:
Ideas are very valuable. Most successful entrepreneurs know the value of an innovative business idea. In fact, companies become more successful or get bankrupt due to the presence or lack of new ideas.
Most times greatness in business don’t come because of your education, your family background or your nationality but from the quality of your ideas. Bill Gates, Jack Ma, Mark Zuckerberg, Larry Page and Sergey Brin are billionaires not because they are the smartest among their contemporaries, but because they got great business ideas.
Therefore, getting the right ideas makes most of the difference in wealth creation and business success. If you can learn how to identify and generate innovative ideas, you will be distinguished in life and this can change the narrative of your future.
In this article, I will show you 8 sure-fire ways to unlock your creativity so you can begin to develop innovative business ideas.
1. Be open to new ideas:
If you are not open to new ideas, you can’t get innovative business ideas. many people cannot get great business ideas because they are too rigid to change and they have a mindset that is opposed to any change.
There are stereotypes who believe that things must be done in the same way it was done decades ago. These set of people are not flexible and they tend to resist change. If you are ever going to unlock your creative mind you need to be flexible, you need be open to change and new ideas and you need to be ready to try out new ways of doing things.
Don’t allow your past experiences to limit your thinking. While brainstorming for business ideas and possibilities, if you only take into consideration what worked in the past, you might get stucked with old ideas. If you want to develop innovative business ideas you need to start thinking about how to bring up solution for the future and not solution for the past.
While looking for business ideas, don’t get satisfied easily with the first set of possible solution that comes to your mind. Instead you need to develop as much business ideas or solutions as possible in order to give room for new innovative ideas other than the usual or common.
There are enormous amount of ideas that are yet to be known or tapped, but not until you give room for the unusual, the new ideas won’t come to your mind.
2. Most big business ideas come when you are busy working on existing ideas:
Ideas don’t come to the idle mind. Facebook wasn’t the first app created by Mark Zuckerberg. However while busy working on other existing ideas the revolutionary idea of Facebook came up.
Therefore great ideas are created based on your life experiences and to get them you should be actively doing something right now, you should be making efforts and trying your hands on the ideas you already have at the moment.
Start working on the business ideas that you already have and with the amount of capital that you have at the moment. Doing this will help you to start learning the various important aspects of business management like: marketing, budgeting, customer service, selling, promotion, accounting, bookkeeping, partnership etc. Then, when that big revolutionary idea come, you would have already acquired the needed skills and experiences to make it a success.
3. Start asking the “what if” questions:
Asking the “what- if” questions can help you to generate innovative business ideas and it is a trigger for business revolutionary ideas.
To develop land mark ideas, you need to start challenging existing norms and trends. You need to open your mind to think in terms of the opposite of what is already in existence.
For example, here are some “what-if” questions you can ask yourself in order to unlock new business ideas:
* What if all physical markets cease to exist? Or how can people do business if all physical markets cease to exist?
* What if we don’t have to queue up on polling booths to vote? Or what products can I develop so that voters can cast their votes from their homes without having to come to any pilling booth?
*What if cars can fly?
*What if hospitals become mobile?
*What if supermarkets become mobile?
* What if banks become mobile?
* What if all hotels operate without staff?
* What if we have petrol stations without attendants?
These are just a few of the questions you can ask. There are many more questions you can ask yourself to unlock creative business ideas.
Some years ago, people had to go to banks and queue up to collect money from the counter until someone thought of the ATM machine.
You need to start asking the right questions in order to open up your subconscious mind to new ideas and possibilities. Ask as much questions as possible and in different ways and directions until you get new insights and possibilities.You need to think and challenge the status quo in order to be innovative.
4. Generate as much ideas as possible:
The more the quantity of ideas you are able to generate the more likely are to come up with an innovative business idea.
According to Professor Dean Keith who researched on the connection between the quantity and quality of ideas, ” the best scientist created more successful ideas than the mediocre ones. However, the best scientists also created many more bad ideas than the medical scientist”.
Thomas Edison filed over 2000 patents, but the majority of them didn’t succeed. Albert Einstein published over 300 scientific papers, but the majority of them are not cited by other scientists.
Therefore in essence the majority of ideas that’s the best ideas creators generate about, some of them are average ideas and a few are genius ideas. This few genius ideas make the best creators enormously successful.
5. Modify or combine existing ideas:
There is no such thing as an original idea. All ideas are the modifications or combinations of hold ones. The more old ideas you learn the more resources you have for creating your own ideas.
Henry Ford said, ” the simple secret of my genius is that I created something new out of the ideas and inventions of others”
Steve Jobs founder of Apple said, ” when you ask creative people how they did something they feel a little guilty because they didn’t really do it they just saw something it seemed obvious to them after a while. That’s because they were able to connect experiences they’ve had and synthesize new things”
Alta Vista was the first search engine to be developed, but thenYahoo took their idea and developed their own search engine better than Alta Vista. Today the best search engine is Google. Google didn’t originate the ideas of the search engines, but only improved and modified the concept and made it even more better. Today Google had dominated the industry and Alta Vista is out of business.
In the 1990s, the top selling mobile phone was Motorola and Sony Ericsson. Motorola created the first hand held mobile phones. As at that time, they had the best design and technological advanced phones. But not too long, Nokia, Apple, Samsung, Tecno and others enter the scene and built on the existing ideas and made it even more better. Now Motorola is almost out of business.
Apple created the first touch screen phones, while Skype created the first app that facilitates free video communication via the internet. However, today many other companies have used these ideas to develop similar and even highly competitive products.
To succeed in business ideas creation, you need to learn how to copy and improve on existing ideas. New ideas are modifications or combinations of existing ideas. The more life experiences you have, the more ideas of others you know, the better ideas you will be able to build on top of them.
The internet has made it easy to access numerous ideas across the world. All you need to do is to learn copy and modify existing ideas and your progress as successful business ideas generation will be expedited.
Sometimes, you don’t necessarily need to reinvent the wheels. All you need to do is to find out what business is already in existence and is already succeeding and then modify it to become better than the original idea.
6. Copy and adopt ideas that has successfully worked in another environment:
Yes you heard me right. Learn to copy successful ideas from other countries. You will never be able to create more ideas than numerous geniuses before you, no matter how smart or intelligent you are.
Whatever you want to do, it’s very likely that someone else had done it in another environment. Copying an idea from another country and adopting it in your own environment has proven to be useful and effective. Even if you don’t modify the idea, if it succeeds in another environment, it’s very likely to succeed in your own location.
Walt Disney the famous cartoonist, got his inspiration and founded the Disneyland in the USA after traveling to Copenhagen, Denmark. He was inspired by the Tivoli Gardens amusement park in Copenhagen.
Adopt existing ideas from other countries, states or environments. If an idea has worked well in another environment, if you can study how the idea was implemented in that environment and then successfully transfer it to your intended business location, you should succeed.
When you travel, observe, learn, study businesses you see in the foreign land so you can implement it in your own business location.
7. Deliberately seek new life experiences:
Great idea originate from a combination of several other ideas and multiple life experiences. The more life experiences you have, the more ability to create new ideas, but if you have few experiences you ideas bank will be scanty.
Therefore if you wish to increase your capacity to generate more useful ideas you need to have an unquenchable appetite to seek new experiences.
Some ways of increasing your life experiences include; reading new books, magazines and online contents, making new friends, attending seminars and conferences, trying out new hobbies or travelling to new environments. Therefore continue to bombard and expose your brain to new experiences and ideas as they will become the catalyst for your future successful business ideas.
8. Always write down your ideas:
Ideas are valuable and they come when you least expect them, therefore you must learn to write them down as they come. no matter how good your memory is will most likely forget if you don’t write down ideas when they come.
When you forget useful and precious ideas, you miss out on the future opportunities that would have been unlocked by the ideas. Therefore you need to have a notebook for writing down your business ideas. This habit of writing down ideas was used by many scientists both past and present.
When you have several ideas on paper, it makes it easy for you to review them, modify them, compare them or even combine them and to be able to come up with an innovative new masterpiece that would make a difference.
If you follow the steps I have shared with you above, you will begin to develop great business ideas that would change the narrative of your business and for many others. You will begin to develop innovative business ideas that would change the ways we do things, make life easier for many, save time, create value and even make you wealthier.
Using the techniques above, great ideas that may seem too big to accomplish might come to your mind. Yes, it’s normal to be afraid of the possibility of achieving the idea or vision because it might appear too big to accomplish and because you have limited resources.
However, when there is a will, there will be a way!
If you are determined to succeed and to work on the vision and the goal, you should succeed.
Also, you must note that getting the ideas or vision, doesn’t mean that you must be the only one to accomplish the vision all by yourself.
That is when collaboration, team work , synergy, partnership and networking comes to play. When you get a vision or an idea in life, you are not going to know all the answers. Infact, no one expects you to. You are only blamed if you fail to collaborate to produce the needed solution to problems and to make your dreams or ideas come to reality.
Therefore, start now to work on your dreams, employ determination, commitment, hardwork and collaboration to make a success of your ideas and dreams.
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