Start solving a problem. This is a proven business idea that works
If there is a problem that affects you, your friends, family, co-workers, etc., then the chances are high that it affects people you don’t know as well. The good news is the problem is a business idea.
I started a fabric shop in a Village where people traveled 59 km to the next Village to buy fabric. Fabric is used for all traditional wedding and every wedding there is a need to buy fabric. This is an example of a viable idea that solved peoples problem by saving them money and time.
The Viable business idea that solve people’s problems are measured by how sustainable the idea is. How long will the business keep on making profits? Will it survive for many years to come?
Solve problems you have first
The easiest way to come up with business ideas is to solve problems you have. The second easiest is to solve problems others have. These don’t have to be big solutions like Google search or Amazon, they could be much smaller.
Examples of products that solve problem
Many of the products you have become used to using were actually invented to solve a problem, including Thermoflasks to keep coffee/food warm, sunglasses to protect from the sunlight, security alarms to alert you that someone has broken in, fire extinguishers to put out a fire before the whole place goes up, toothbrushes to clean your teeth and so many
Your frustrations are actually problems that need to be solved
All you have to do is get good at identifying problems. Once you’ve realized that each of your own frustrations is actually an idea in the making, you’re actually going to start your own business.
As you go about your daily tasks, be they at home or work, try to get in the mindset of noticing the things that frustrate you. If you’ve been in a particular industry for a while, you may have good insight into this as there may be things that have been a problem for a long time
Get into the habit of solving problems
Once you get into the habit of finding problems, you’ll probably start to enjoy it. Remember, every problem is an opportunity for a new product, service, or company, especially if it’s a problem many others have too.
Solving problems that you currently have is not the only way to come up with new ideas. Why not think of solving problems that will exist, but don’t yet?
Save people money
Yet another great way to come up with ideas is to think about saving people money. If you can figure out how to save people money, you’ll have a good business idea, new or not.
Make people’s lives easier
Remember, coming up with business ideas doesn’t mean you have to focus on inventing new products or services. In fact, you could just as easily adapt an existing service or introduce a new benefit that makes peoples’ lives easier.
There are always small ways you could be making things easier for yourself or for others. In fact, if you think about doing this, on an ongoing basis, you may find you’re also able to release new products that are simply a version of the old product that makes someone’s life easier in some small way.
Can you think of something an action, product, service, or chore that could be adapted to make your life easier? Please share with us by leaving a comment.Please