The scope of business thinking determines the longevity of a business venture. However, how to create a business idea is often a stumbling block, especially for first-time entrepreneurs. It often happens that the producers insult or forgive each other.
So they could pass on the idea of what could be the next Airbnb. At the same time, many business owners are falling behind and creating products that are unpopular with the market.
Therefore, in this article we look at:
- How to come up with a business idea
- How to give the most important
- How to check if your idea is possible
- Ask employees who can get the most out of their feedback
At the end of this article, you should have guidelines that will help you decide if you want to pursue your idea. Then you can start expanding your business plan.
Comes with business ideas: design ideas
A good business idea should provide an answer for people who are willing to pay. And in order to build a solution that is cheaper, more attractive, and more cost-effective than other similar solutions, you need to have a deep understanding of the root of the problem, both in terms of performance and design.
A good tool is a design concept.
In short, design thinking is a problem-solving approach that combines different perspectives with different perspectives. This means that you must first examine as many options as possible, often with potential customers or myths.
Then gradually reduce the chances of these options until you find a solution that can mark as many checkboxes as necessary.
The best part of the design idea is that it is customer-centric. So, by using it, you will have to focus on what is really important to the customers. This will greatly determine the success and strength of your business idea.
In addition, it is a non-linear process that goes through four stages: research, interpretation, development and delivery. This allows you to track all the important aspects of your business, such as:
- Customer
- Sales quality and saturation
- Competitor
- Requirements
- Requirements and restrictions (such as rules, regulations, etc.)
So, you have to work from the beginning and expand it over and over again. However, you must have a good understanding of how each change affects other factors.
Step 1: Identify different types of business ideas
The first step of the design concept is the research process.
At this point, you start with the general idea that you want to expand (think of it as a desirable company), for example, work-life balance, travel, or other broad areas.
However — in order for your ideas to thrive, do not invest too much of your original ideas in interviewing them.
Put all the options here — browse any imaginable directions, from visually appealing to clear or guarded. Remember, here, you want to know all that can be said about potential customers and their actions, needs, desires and problems.
Your guiding principle should be to look for specific issues. If you are talking about moving, try to find out:
- What day or hour of the worst day trip? Which city?
- What else will negative travel options have to do with it?
- How do people pay for tickets and how comfortable do they feel?
- Do they enjoy traveling?
Step 2: Describe the specific problem
By the end of step 1, you will have amassed a lot of potential problems. All of these can be transformed into a business idea.
Now is the time to solve the problem and make the problem better.
Here, review all the problems you found and find the ones that you think might be helpful. Compare your skills with the expertise of the team, as well as the options available on the market, which may be competitive or inconspicuous, and then select the problem you want to solve next.
You can navigate this pool at any time in the future, but now is the time to perfect the problem you want to solve right now.
Step 3: Develop ideas (it’s time to think outside the box)
It’s time to think about another “broad” one.
At this point, you want to find as many natural solutions as possible for the specific problem you have identified.
However, if you compile your ideas based on the “User Benefits” and “Required Efforts” axes, you will get the maximum benefit from this program. Make sure it works out for any business including the one which sells Himalayan salt night light.
So, for each of your questions, please see:
- How much does it bring to employees?
- How much effort does it require you to put in
You can expect to pursue the best and most profitable endeavors with minimal effort.
If you are missing out on such a solution, please choose a solution that has the highest value for the user.
If you are facing a serious mistake here, as there is almost no funding, try to break the solution down into smaller parts. Then start again by step 3 to find a solution for anything less than your budget.
Step 4: Prototyping time
In the final analysis, you strive to provide your customers with the best product (MVP).
This means that if you are working as a travel agent, you will want your customers to be able to write travel documents. This is perfect for the first step. Alternatively, you can include the option of payment or driving, but for now, please check whether the feature you are offering brings any benefits to your customers, or whether it fits your expectations ha.
Now, at this stage, you have the initial feedback on this product offered to first-time customers. This will help you to improve this idea. No matter what the outcome, you will know exactly what steps need to be taken next — whether to build ahead or back up and rebuild the original delivery.
At the same time, you are collecting a lot of feedback from real customers, which will help you evaluate the value of your canvas business and make adjustments if necessary.
How to create a business idea: Conclusion
You learned today how to create a business idea and turn it into a profitable business. All you have to do now is turn your hand and start working!
Do you need help to draw up and organize your ideas?
