Sometimes I really wish there was a supermarket that sold business ideas. Imagine walking towards the aisle of your preference, picking that great concept that fits your expertise and personality, and heading to the checkout counter to purchase it. Life would be much simpler. But then again life is simple, and there are great idea sources that entrepreneurs can tap into and use to launch their next business venture.
While the ideas I will highlight below may provide an inspiration, what many entrepreneurs do is to try to figure out all the minor details that will make that business perfect before launching it. Some might even let that “figuring out” process get in the way of pursuing the idea and move on to the next concept that can be perfected more easily.
So what great idea sources are out there?
Well, start off with something close to home — your family and friends. Pay extra attention to their conversations, because it is often in complaints about products and services that great ideas are born. Think of a friend who is having difficulty in creatively marketing her business, or an old disabled uncle who needs one or two enhancements to his wheelchair to make his life easier. What we often overlook is how our friends and families’ complaints are a good source of inspiration. You could take this a step further by asking them what they believe would make their lives easier. Ask them what might make a trip to a service provider smoother, and ease their daily struggles. Perhaps a mobile app could be introduced. It might then be worth forming a discussion group to see what others think of a potential venture.
This takes us to the next source of inspiration: after asking your friends or family, you could then ask service providers, your potential partners of the future, and other potential customers, how a certain product or service would improve their life or business.
If all the people you ask have a common complaint or desire for a certain product idea or service, then you have your business idea.
Pay attention to everything around you. The world is an inspiration on its own. Look at your phone, or a gadget at home. Would an extra function make your life easier? Look at your surroundings as you drive to work. Perhaps that empty board would be a good marketing tool and you could do something about it. What about the area around your office? Is there a lack of coffee shops or restaurants? Listen to your colleagues, and discuss what could ease their workload. Would new software minimise your clients’ waiting time? In our daily lives, we tend to grow accustomed to how things are run, but if we slowed down for a moment, we might notice the gaps that when filled would aid us in better utilising our time and improving our quality of life. In all of this, it is important to have an open mindset; look at the world as abundant, as a place where there is always room for a new business, especially when it has a differentiating factor.
Read, read, and read. I cannot stress the importance of reading. Read entrepreneurship journals, and see how entrepreneurs around the world have gone about solving particular problems. Be inspired by similar business concepts, and see how you could adopt the general idea and tailor it to fit your target market. A burger is not a unique product, but every restaurant aims to stand out in their own right by introducing a secret sauce or special ingredients. You do not always need to come up with something from scratch — reinventing the wheel can work fine too.
It is extremely important to jot down your ideas. Do not depend on your memory, as you could miss out on important details. I’m old school when it comes to this and love to carry a notebook and pen around, but typing thoughts on your computer or phone works just as well. Or do as one of my friends does and record your thoughts on your phone.
Many great businesses are born from a need to improve the quality of our lives. By paying attention to routine conversations in your daily life, you too could find inspiration.
Manar Al Hinai is an award-winning Emirati writer and communications consultant based in Abu Dhabi. Twitter: @manar_alhinai
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