How do I get the right Idea?

You need an idea. Ideas are where businesses germinate. We all think that if we can come up with the right idea, the business-building part will follow. Sadly it’s not that easy, Entrepreneurship is like a chair with four legs (okay! It’s too cliche, but still works well to define) — The right pain point, the right idea to solve it, the right team to do it, and Paying Customers. Do you want to sit comfortably for a long time? Should get all four legs in the right way!

Ask any entrepreneur and they will tell you — building a business around the right idea is easily the toughest part of getting started. We will be surrounded by a myriad of questions. Is it worth spending all of my precious time and resources? Will this sink or swim to the apex? How will I know when I have the right idea? At times a little qualm too — Am I leading my team into a plan that’s doomed to fail?

These top the FAQs that plague a founder’s mind when he or she considers taking the entrepreneurial plunge. So how will you know when you’ve articulated the chair and you are ready to move forward? Let’s start with the idea part.

#Identify your biggest source of satisfaction

Figure out how to monetize what you love. Love trekking? What about a trekking guide or a rock climbing instructor? Ahem. OK! You need to build a billion-dollar company, I get that. But still, here I go. You’ve got to do something that you enjoy doing, you’ll flourish and so will your business. This approach gives know-how from the bottom to up that you are into. Cliche alert two?—?“If you choose a job you love, you will never work a day in your life.” As an entrepreneur, you have the unique ability to choose the job you love. Through your hard work, diligent efforts, and structured and disciplined way to do it, you control your destiny. If you are passionate about your idea and personally invested in your mission, the rest will fall into place. Simple takeaway?—?Happiness is the greatest form of capital, Invest that in what you love doing and it will reap you a 10X return.

#Identify your biggest frustration, Think for a minute.

What’s the biggest frustration in your life right now? Got it? Okay, good. Now, what’s the solution to that problem? There’s your business idea. Discuss, iterate and refine. I’m not exaggerating, although I am simplifying the principle. The greatest business ideas are born out of solving problems. Someone confronts a problem, comes up with the solution, and sells it. You don’t believe me? Go-Pro was created by a surfer who could not take high-action photos and videos of him while he surfs because photographers could not get close enough or buy appropriate quality equipment at reasonable prices. Now it is a $1.64Bn net worth.

Ice cones were invented by waffle makers when the cups went out of stock.

In 2007, a couple of designers couldn’t afford the rent on their San Francisco apartment. To make ends meet, they decided to turn their loft into a lodging space. From there Airbed & Breakfast kicks off the ground. Fast forward now it is Airbnb valued at $80Bn.

There are tons of examples can't quote all here! Need motivation?, Go google. Take way is that stay away from sudden hype, motivation, or depression. Be disciplined and continue your work.

#Think about the world’s biggest challenge — fifteen years from now

Scan current trends and imagine beyond! let me rope the trending example Elon Musk is a forward-thinking innovator. Where did he get his ideas? According to Musk, “I thought about what are the problems that are most likely to affect the future of the world — the future of humanity.” He brainstormed the solutions to future problems. Musk probably knew that short-lived problems would have short-lived solutions. So he tackled bigger problems — the future of humanity problems. So he founded PayPal, (Let’s get the PayPal mafia in a different blog), built rocket ships, sold electric cars, designed the submarine car, and invented a tube-traveling capsule- the hyperloop. So you may not need to design rockets or Hyperloop capsules, but the world will experience other types of problems down the road. What will they be? How can you start solving them now? People are going to pay for those solutions. Maybe not today, but eventually they will. Now is the time to start thinking about it. Take way is putting ourselves ahead of time puts ourselves ahead of competitors, but still, it’s not who came first it’s who came when people needed it.

#Share Your Ideas with Others except for your mom!

Whatever we say to her it’s always wow and awesome. Avoid that! It’s a trap. Find other trustworthy friends, family members, teachers, mentors whom you assume might face the same problem and take interest in what you express, or entrepreneurs who would be willing to sit down and listen. This session helps you practice your pitch evaluate how well you articulate your thought process and also spot weaknesses in your original idea. Often when you verbalize your brilliant idea, the business will seem less or even more amazing than you once thought. It might even help you to find a like-minded business partner with a different skill to complement each other. Encourage your listeners to find the missing piece in your plan and ask you tough questions. Ask for their opinion on whether or not it’s a product they would ever buy. That’s your basic customer research, a place to find your early adopters and even derive your product-market fit. This way you get the problem well-validated along with a basic idea of your target market segmentation. Put the data visualized in a structured manner on various tabs. The data from various personas never lies. This gives a yes or no answer if to take this up or needs some rethinking.

#Change Your Perspective: See Problems and Competitions as Opportunities.

Don’t be querulous about problems. Instead, learn to become a solution creator. What’s the difference between these two? It’s essentially how you view the world around you. Entrepreneurs should approach life in a constructive, positive way. Don’t let little obstacles block your path to success. People won’t buy something that doesn’t give them value in return. Your idea should somehow improve the lives of your target customers. The best way to do this is to find a common problem or inconvenience and try to solve it. Too many businesses today flood the market with goods and services that customers simply don’t want to buy. Capitalize the problem to give a solution or if there were any then analyze the gaps and give a better-improvised solution. Make sure that you have enough potential difference from it or it could just be another update in future versions for the competitors, Try noticing how others solve business problems. The ultimate takeaway is to start doing anything. Unplug, and do something different, Look around and start asking!

#Hunt for ideas in diverse places.

You might find a great idea while you’re on vacation or unexpected inspiration in the movie. Don’t just stop anything too early before it gets a structure it might sound silly but, Everything will be when it is new, unique & innovative.

The craziest inspirations with a practical approach will get us there. It is not bizarre to get inspiration and thoughts from diverse places. Ask an artist, who will say that they get ideas from diverse sources. Let’s not sit in our college classrooms labs, or corporate board rooms, Are you at your work desk on a call with a friend discussing your venture? Have you just had a break in your career? A homemaker thinking to kick off your abilities and use the time you have? The universal answer is to look & and observe.

#Finally

The idea to create value for society is much appreciated, it is our passion, vision, hard and prolific efforts driven by the incisive insights of the above-mentioned tabs that put you there. We can’t expect the best idea to come to you on the first attempt. You may have to try several times. You might have to try (and fail) two times before you land on the charm of the third. You’ve got to just start doing something, anything. Try. Fail. Go for any idea, and just run with it until you have to stop. You might avoid starting a business because you fear failure. But maybe failure is what you need. Maybe you need to fail a few times before you can succeed.

Plan, Design, Deliver. Written & Directed by you!