Coming Up With Business Ideas
Entrepreneurism and Developing the Idea
Written by Jay Shapiro for Gaebler Ventures
The idea comes to you light a lightning bolt. You envision how successful it will be, but do you envision how to get it to the point of success? The road can be a long and hard one.
It is not really a 'Eureka!' moment when the idea comes to mind, as it has been brewing in your subconscious for sometime.
Either that or you have suddenly seen a tiny little niche, a glimmer of something that can be turned into an opportunity to make money. Either way this is where it becomes exciting.
Authors often say that when they first think of an idea for a book they start asking themselves questions about the characters and their motives, how the story will unfold, and what happens at the end.
It's a similar process when a business ideas comes to mind. Invariably, you will have these questions surface time and time again.
- How will it work, or what will it do?
- Is there a market for it?
- What will be involved in setting up the venture?
- How much will it cost?
- What do I need to do it?
The Author's Route:
As you answer the questions, more questions arise. Authors say that when they have stopped asking themselves questions, they start writing the novel. This is a good basis to make the decision and go for it, or shelve a particular idea in favour of another one. After all, it's unlikely that you'd have only one idea.
In many instances, the idea will migrate to the World Wide Web. Most industries have utilised the internet to some degree or another, and it has opened a world of opportunities to provide services and goods that simply were not around ten, twenty years ago.
Many of us have a person who we feel can make a sound judgements on our ideas. It goes without saying to pitch the idea to this person and listen to their opinion. This may give you an insight you may have overlooked.
Once the idea is viable, some people put everything they can into action very quickly. This goes against the basic rules of planning and how we are educated, where everything works in stages. Successful entrepreneurs that have gone on to make lots of money became successful by doing everything at once.
Not always logical:
On the surface this sounds impossible, and defies logic, but look at the advantages of marketing the idea before the infrastructure is in place, or trying to sell a product before it is developed. Imagine the business taking orders for what you sell or produce on the first day it is up and running, or people wanting your services from day one. This is the advantage of doing everything at once. And can you ever have too much marketing?
Entrepreneurialism is more than being a good businessperson, and less at the same time too. The good business element happens after the idea is successful to tidy up the edges. The spirit of entrepreneurialism is to take an idea and help it achieve its potential, and turn it into something that has never been done before.
Jay Shapiro is a freelance writer based in the UK. Jay has a particular interest in the emotive aspects of the entrepreneur's character. "Alongside the nuts and bolts of business, the character of the person is often the ingredient responsible for success."
Share this article
Additional Resources for Entrepreneurs
We greatly appreciate any advice you can provide on this topic. Please contribute your insights on this topic so others can benefit.