Ideation: where business ideas come from
Website design By BotEap.comIdeation is the creative process of generating, developing, and communicating new business ideas. When we plan to launch a new business, we take advantage of an existing concept or develop our own unique idea. The same applies to growing an existing business. It has always been difficult for me to determine what is more difficult: finding the idea or executing it.
Website design By BotEap.comSometimes ideas are pretty easy to conjure up, and the hard part is deciding if they’re good enough to build a profitable business on. If you have what you think is a “great idea,” the next challenge is to prove or prove that it will translate into a successful company.
Website design By BotEap.comThen there are times when a viable idea is the hardest thing to find. It can seem like all the good ideas are taken and you are left on the sidelines with the resources and desire to start or grow a business, but no great idea. The ideation process can take a day or years, and as with the creative process, it’s usually unproductive to rush it. Aside from the other typical resource barriers (money and people), the lack of a “good idea” is often what prevents people from realizing their dream of becoming their own boss.
Website design By BotEap.comThe creation of a new business begins with the idea. The process of developing that idea, and your business concept, can perhaps include some level of testing through prototyping and iteration. During these early phases, your idea will undoubtedly evolve and may even morph into something completely different. There are three basic categories for business ideas.and considering these categories can help trigger that next big creation or validate the existing one:
- New – a new invention or business idea. Examples may include the Segway, virtual reality, and other product inventions. This is the most difficult category for new business ideas. There are very few true and completely new ideas. By “new” I mean something that absolutely doesn’t exist currently or in the past in any way. It’s easy to mistake a new idea for what is really an improvement on or disruption of an existing or traditional way of doing something. Truly new and unique ideas are hard to find, so don’t be paralyzed that this is the only source of viable new ideas. Website design By BotEap.com
- improvement – this is the proverbial best mousetrap. Examples include exterior-express car washes (where you stay in the car), Virgin Airlines, LED lighting, and Disney Land. Most small businesses probably fall into this category. You take an existing service or product and make or deliver it in a better way, either directly or indirectly. You can do it with better quality raw materials, for example, or you can add value to the product or service by including additional services or add-ons. Website design By BotEap.com
- breaking off – a new and revolutionary way of doing something. Examples include Uber, AirBnB, and Amazon. Our modern interconnected world, supported and made possible by the Internet, now allows us to completely reinvent, transform and disrupt entire industries. The Internet and other technologies are not the only way to execute a disruptive business idea, but they have certainly accelerated our ability to do so.
- Website design By BotEap.comWhat need does my product or service cover? What problem does it solve?
- Website design By BotEap.comWhat are the features and benefits of my offer?
- Website design By BotEap.comWhat is my competitive advantage? What makes this idea truly unique in my market?
- Website design By BotEap.comHow do my skills and experience fit with my idea?
- Website design By BotEap.comHow can I try and prove it?
- Website design By BotEap.comWhat resources will I need to turn this idea into a viable business?
- Website design By BotEap.comDoes my idea solve a problem of a billion people, or the problem of a few?
- Website design By BotEap.comCan I envision running this concept for the next 5-10 years?