business ideas

I began to write an article on How to Convert Business Ideas to Money yesterday. Then it struck me that many people have asked me “how can I get a business idea?” So I decided to create this so we can release that tomorrow.

Facebook started as an idea. Walt Disney started with an idea. The Pyramids of Egypt and The Burj Al-Araab started with just an idea in the minds of men before they came into reality. Business ideas are like that. If they don’t exist in the mind first, they won’t become realities.

What if I don’t have a business idea?

This is one of the questions people have asked whenever I am speaking to an audience about converting business ideas to money making ventures. Some people have even asked me if I can help them get some business ideas. Let me quickly make it clear that business ideas that are conceived by you have the most power and impression on you. So insead of looking for someone to “give” you get a business idea, it is best to get one yourself.

How to Get a Business Idea.

Getting a business idea is not as difficult as some people make it to look like. A business idea is simply a proposed solution to a problem that people are willing to pay to get rid of. It is a proposed solution to a scarcity people will likely be willing to pay to eradicate.

Before I share the tips for getting business ideas, I’d like to show you the kind of mindset you must have to be able to recognize good ideas.

  1. Dissatisfaction: Be dis-satisfied. Don’t be comfortable with things that are mediocre. Always insist on the best, That mindset will take you places. It will help you to get business ideas.
  2. Anti Status quo: Challenge the present and watch out for the better. Always ask “is this the best way this can be done?”
  3. Keen: A keen mind is open and always notice changes. Nothing escapes a person with this kind of mind/mindset that can see what others can’t see.
  4. Exploratory: People with exploratory mindset are always looking for the next thrilling stuff. As they do that, busness ideas can come knocking.

The following tips will help you to get business ideas;

  1. Study problems
  2. Flip through magazines
  3. Surf the internet
  4. Environment
  5. Travelling
  6. Visit the local Marketplace
  7. Entrepreneurial Seminars
  8. Books
  9. Adverts/Commercials
  10. Exhibitions
  11. Business Events

Study Problems

This might sound strange. But trust me, if you take more than a casual look at problems, business ideas can flow out of you. Once you start seeing problems like potential opportunities, they will eventually be so to you in reality. For more indepth study on this, read; Problems: How to Turn Them To Business Ventures

Flip through magazines

Just flipping through magazines with a mind on alert for business ideas can work magic. My mind is automatically like that now through many years of practising. No wonder I have too many business ideas than I can implement in my life time.

Surf the internet

The internet is full of all kinds of information and stuff. I don’t know what you look for whenver you are online. But visiting the right sites can spark something that can help you to get a business idea. As a matter of fact, just searching Youtube with “business” as keyword might be an instant key here.

Environment

What you see day to day in and around your neighborhood can spark a business idea. So as you move around, watch out. A bad drainage system is a potential business idea. A dirty street. A dark alley. An abandoned car. An overgrown football field. Children walking around aimlessly. Increasing stray dogs/animals. There is a business idea in the most unlikely place.

Travelling

I don’t know about you but travelling gives me time to think and visualize. It allows me time to think about things I was too busy to consider in my day to day life. I remember 7 years after my first magazine business flopped, I had an urgency to start another one. I wasn’t sure of what format or strategy to use. It was while my wife and I were travelling for vacation in December 2014 that I finally figured it out. In January 2015, my online magazine started!

The local marketplace

The local marketplace is one of the likely places to get a business idea. My friend, Mikehymne visited a marketplace while we were still students in University of Benin and saw how cheap pineapple was there compared to Port Harcourt where his parents lives. He immediately made a deal and began to send about two trucks a month to Port Harcourt for huge profits. I even benefited from the proceeds!

Entrepreneurial Seminars and Workshops

Amazing things happen in entrepreneurial events. You will find people, many of whom are not smarter than you, with amazing ideas. That can trigger or inspire a business idea. Examples from other members of the audience and the facilitators will definitely spark something. If you are looking to quiting your job soon to start something on your own, always attend these kinds of evenbts.

Books

Reading can also do the magic. Many years ago, I was considering going into training and consulting. But I didn’t know how to go about it. Then a friend bought a copy of Dream Big & Kick Ass by Bill Zanker and Donald Trump. Before I read up to one quarter of the book, I knew what to do. I got a partner and we started. We became almost instantly successful. Books are a major source of getting a business idea.

Adverts/Commercials

It is normal for most people to type SMS or whatsapp messages when commercials are being shown in the middle of a programmme. Not me! I watch it all because an idea might just be lurking around the corner. Commercials are created by various expert teams. They are packed full of ideas. The advert may not necesarily give you an idea. But one line might. The pictures on the advert just might. The scenary might just help.

Exhibitions

Exhibitions are a great place to get ideas. The exhibitors and the organizers want to have you. So, you get to appear there for free and take a look at the products and businesses on display. An item (maybe a book) on display might just do the trick.

Business Events

This almost look the same as entrepreneurial seminar/workshop but they are different. You should attend any business related event. Is it a training? Is it a business club meeting? Attend!

Remember the Mindsets?

Do not forget some of the mindsets you must develop in order to be able to adequately find and recognize opportunities for business ideas. Listed above, we said the mindsets are exploratory, anti-status quo, keen and dissatisfaction.

Have I left out any tips? Kindly leave them in a comment below.

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