All great businessmen like Jeff Bezos, Bill Gates, Mark Zuckerberg, and Nikola Tesla began their success story with an idea. And if you think that generating a brilliant business idea like them does not require a process and mental struggle, then you’ve fallen into believing a myth. Ideas do not come out of nowhere but are a result of productive habits and an analytical mindset. And below are the steps you can practice to produce the best idea on your own.
1. Read Relevant Narratives
Motivational books written by the so-called ‘successful people’ are flooding the book market. And I can assure you that collecting them all won’t bring you any closer to your goal if you do not have the right manner. First, you must bear in mind that the stories in those books happened in the past and may no longer be relevant to your reality. However, motivational books do have their benefits, such as giving you a picture of the possibilities in a particular context and how those individuals executed the design of their business into reality. Nevertheless, you should not let those stories sway you from your purpose. Reading books about successful people does not make you become them. You need real hard work!
Second, business news contains relevant and updated information regarding the real-time condition of the general market, and reading them can give you opportunities to spot the vacant demand. And being successful in business simply means pioneering a trade in a field that no one else has ever bothered to look at twice.
Third, politics and laws do give considerable impacts on the types of business that are feasible for you. You have to learn this subject because you do not want your company to trade in a market that is undesirable and potentially breaking the accepted laws and norms. Therefore, an ideal entrepreneur is supposed to be knowledgeable about general issues.
2. Create a Knowledge Business Group
A knowledge business group consists of professionals with expertise different from one to another, and yet they all gather to pursue a unified goal. It is like the advanced form of a brainstorming group, but with much more professional intention.
However, it is crucial to note the direction of the group since the first meeting so that no one steals the ideas that are supposed to belong to the group.
3. Criticize Your Ideas
Ideas that work are the ones surviving critical analyses. And still strongly related to the previous step, the best way to find flaws in your design is by asking other experts to evaluate it. This step is crucial because you do not want to spend your business budget on an idea that crumbles as soon as it meets its first challenge.
There are many ways of criticizing an idea, but the most significant ones are to think like your potential investors and customers. You should test your idea against possible scenarios that take those stakeholders into account. Start with the potential problems and complete the criticism with thinking which parts of the business plan are likely to improve.