Home BUSINESS What Are The Best Methods To Find A Good Business Idea

What Are The Best Methods To Find A Good Business Idea

In this article, we will focus on identifying and formalizing the “good idea” for starting a business. Not necessarily the “idea of ​​the century” but one that appeals to you, that will allow you to flourish and that will allow you to make money because you will have enough customers.

Of course, don’t forget what Thomas Edison said: “I haven’t failed. I just found 10,000 solutions that don’t work ”. So, maybe your business creation idea of ​​the day is not “the right one” but surely that by working on it, by adapting it, it could become it! Through this chapter, we will help you define the idea that you will have: the idea that you like but also, the idea that will appeal to your future customers!

It is preferable, but not essential to have a team with you already. Indeed, if several people are already ready to accompany you in your business project and to carry it with you, you will federate them more easily around the idea. If you identify the team that will carry the project with you after having had the idea, it’s up to you to convince them!

Find Your Business Idea!

There are several types of entrepreneurs: those who set up their business around a concrete project which, very often, has been running around in their heads for a long time … and then others, those who have no precise idea, but who have the desire and the temperament to create and become their own boss.

Are you part of this second category? This article on the different ways to find ideas for a business is for you! There are basically two ways to do this:

  • You can start from the needs of consumers and follow in particular the principles of Peter Drucker who suggests several sources of opportunity to generate innovations and as many ideas for entrepreneurship.
  • You can also start from yourself, taking stock of your own resources and abilities.

We come back to these two solutions in detail, in particular with presentation videos:

  • Patrick Robin: be creative or opportunist;
  • Osama Amar: How to find Startup ideas?
  • Frédéric Fréry: taking an interest in unforeseen uses
  • From idea to project: a long moment of reflection

Also Read: How To Launch Your Business By Relying On A Solid Team

Can Your Business Idea Work?

Many entrepreneurs – and it’s commendable – think they have the idea of ​​the century when they start. Of course, optimism is necessary and no one will blame you for not running out of it. However, it is necessary to confront his idea with reality: it must meet a customer’s need, or solve one of his problems. In a nutshell, you have to ask yourself the question: will people/businesses be willing to pay to buy what I sell?

To check if this is the case, nothing like a few reminders on the functioning of the market, and especially on the needs of consumers. These, according to Maslow, can be primary or physiological, relate to a security imperative, relate to belonging or to self-esteem… In this article on the idea of ​​business, we give you useful details about these. points, as well as how to meet business needs. So many avenues to test your idea.

Customer Needs: The Canvas Value Proposition

“Work on the needs of its customers” … Easier said than done! There are of course methods that can help you do this. One of them is to use the value proposition canvas. This matrix is ​​based on three axes:

  • Empathy towards the target: we describe the confrontation of potential customers with a problem and their state when they try to solve it, without forgetting what they get once they have achieved it.
  • Creativity with regard to the problem of this target: this time it is a question of imagining what could relieve customers in solving the problem, and the gains they would obtain from it.
  • Realism: finally, we put on paper the concrete proposals to help customers.

Startup: A Method To Test Your Idea

Some companies die young for not having sufficiently understood the needs of their potential consumers, and for having invested too much in the development of products or services which, in the end, did not meet (or imperfectly) a demand.

The Presentation Pitch

Knowing how to pitch your project is essential for any entrepreneur. Getting your idea understood in one minute, in thirty seconds, by the time the elevator reaches the desired floor … Making it attractive … It means giving yourself the means to win the hearts of partners, investors and customers.

In this article devoted to the company’s presentation pitch, we give you a lot of advice to ensure you don’t miss anything and be efficient!

Also Read: Business Plan | An Operational Tool For Your Business Strategy

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