Hello everyone, this is Arpit Rana from learnsomebusiness.com and today I am going to talk about the methods to generate successful business ideas.
There is only one way to generate a business idea that can get success. That one way is FINDING GAPS IN SOCIETY.
There was a time when we need to carry goods and walk by foot to any location then someone found a gap of ‘transportation’ in our society and brought transportation by horses and other animals. The same thing happened in the case of every other great invention like the telephone, the airplane, etc.
Steps to find business ideas
So, only way to generate a successful business idea is finding gaps in society. But how to find gap in society?
Easy, you have to find a problem in society that your skills can solve. But how to do that?
There are two ways to find a problem-
- Observation- You just need to observe what you can improve, what you can do and what new can you bring. That’s all that you have to observe just write down all the problems you find.
- Asking- Ask people what problem they face in that thing like in case of communication ask what problem you face to people. Write down all the problems.
Now, just finding problem does not mean you have generated a successful idea, it means you have found a gap in society. But you can’t solve every gap in society.
So, first of all filter out all the gaps you can solve. How to identify gaps you can solve?
just, see if the problem can be SOLVED by your skillset or not.
Like I am a blogger and civil engineer, I can’t help in making car engines better. But I can help in taking your business online. That is how you can shortlist.
So, upto now you have generated an idea but it does not mean that it is a successful business idea.
So, what is a succesful business idea?
For me, a successful business idea is one which generates more profit in very fewer investments and that too in less time.
So, what is the last thing for making any idea successful?
Money and time.
Shortlist the idea that requires less money and gives great return.
Shortlist the way you can make money in less time, like within 3 to 5 years then plan is okay. If less than 3, then plan is excellent but if plan requires 10+ years discard it. Because there are large possibilities that the gaps you have found will be removed by someone else in next 10 years.
Once you have found the perfect idea, identify the goals of your idea.
Now, divide your big business goals into small goals or I can say into targets.
Your targets should be well defined, and clear.
If your target is to earn 500 dollars a month then target it like 500 dollars per month by 28 December 2019.
Clear your targets. Once you have solved maximum targets in required time your business will automatically grow.
Lastly, summarise the way of finding successful business idea-
- Find problems in society.
- Shortlist the problems you can solve by your skill-sets.
- Now, shortlist the problems by profit you can make and in how much time.
- Now, set clear goals.
- Work for clearing the short goals.
Lastly, I want to close this blog by saying that to generate a successful business idea you also need one mentality. This mentality should be of helping. If your idea is helping a large group of people your business will grow.
So, do you have any more suggestion to generate a successful business idea?