What are the Best Ways to Think of Ideas for a Startup?

. 6 min read
What are the Best Ways to Think of Ideas for a Startup?

Have you ever wondered how Mark Zuckerberg of Facebook, Garrett Camp of Uber, Elon Musk of Tesla started a company of their own that is ruling the world? Well, the answer lies in one line. One thing that is common among these great personalities is the power to think differently. However, if you are passionate about your life and your dreams and desire to become a successful entrepreneur, you must think differently, which should parallelly be rational thinking.

Here we have discussed the most efficacious ways to help you think of ideas for a startup that you were dreaming of till now.

Analyze The Needs of People Around You

To get a startup idea, it is mandatory to peep into those things that are highly required by people around you. Today, though the world is running fast, there are still a few things that need to be worked upon and that need to be made available to people. Think deeply about those things and make a note. Consult your friends, relatives, or colleagues and get an idea of what exactly they lack in their daily lives. Maybe some of them want to have an efficient E-Commerce site from which they will get the order deliveries quickly, while some of them may wish to have the best coffee shop around to hang out with their friends during their leisure times.

Additionally, do some deep surveys of what people seek. You may also know that people might be in dire need of general stores or some vegetable markets near them to make their daily routine simple and easy to survive.

So whatever the needs may be, to get the ever best startup idea, you must think upon the smaller yet most crucial people's requirements. If you succeed in hacking this method, it is sure that you will succeed in launching your startup.

Think of What People are Crazy For

Have you ever thought of what has made Twitter so popular? Jack Dorsey invented Twitter to put on their thoughts boldly and in a straightforward way on this platform. He knew that people are mad about putting their views in front of the crowd so that their reviews would be noticed and people would get enlightened. Similarly, you can think of such things that will make people mad and would follow you!

Focus on Your Everyday Problems

To become an entrepreneur, you must be a problem solver! However, it would help if you always had an apt solution for all of the issues you are having in your life. If you succeed in solving your daily routine problems, then it will be pretty sure that you will be able to solve other people's problems.

Maintain a journal that will have all your notes and ideas. You can frequently go through your journal and have a look at what is driving you crazy? Suppose your idea no.1 isn't appealing for you, then move on to the next, and so on. What is most important is you should also mention your small problems in your journals and start working on them. The only rule is- first solve your problems and then focus on solving the problems of others. If the problem is really common, you will have a potential customer base, and people will surely notice you and take your solutions. The biggest example of this method is Uber.

What difference did the founder of Uber company make? The problem was very basic! People were facing numerous transportation issues within the cities. The founder picked up this issue and established the Uber company which is now spearheading the cab service market with incredible services.

Produce A Problem of Your Own

Did you know that some of the biggest startups begin from those issues that people weren't aware of? In business terms, this is called 'real innovation.' Many business persons do not have any great idea because they don't know what a possible solution is. Hence to understand what is the most probable solution, you must learn to expand your context. Create a problem, work on that, and see how much you can push your limits to solve that problem. This way, you will know how much you can do and how passionate you are about solving issues.

Consult Potential Customers And Industry Partners

Before putting your heart, soul, and brain into your new business idea, you should always discuss it with your friends and family. Get the reviews from them if your picture will be a savior for the potential customers or users. Ask them if they would like to pay you for the solution you just invented or whether they would like to take your service or product.

To get the best idea, it is highly recommended to run an online survey, which is a faster way to get a bulk of answers from your targeted customers or the audience. Google surveys are one of the most preferred platforms, a drop-dead idea that offers you an excellent method of receiving responses from your target customers. You can also post your thoughts on QUORA or on a leading discussion forum to get the appropriate feedback.

Another outstanding idea is to connect with your potential customers. You can spend time with the consumers and ask them a couple of questions about the expectations on a specific product, service, or business thought. If you are approaching B2C businesses, then target them as a customer and get feedback from them. On the other hand, if you are approaching B2B businesses, you can simply email them or arrange a conference with them to get additional information about the industry. This way, these businesses will get an idea of your passion and will be willing to do something really valuable for society. And believe it or not, but people find it really great when you ask them for their advice or expertise.

You can consult suppliers as well. Verify your assumptions from them and try to speak to more than one provider for a single item. So you can compare the prices and analyze the differences and similarities that will make you expert about the related domain. You can even do a 'smokescreen test.' This test is all about selling before you have anything to sell. However, the actual process of this depends on the business idea, and in many cases, this turns fruitful.

Do Not Stop Learning At All!

'Stay hungry, stay foolish!'- It is the best quote you should follow if you wish to become a great entrepreneur. You should always be hungry to learn new things and to implement them daily. However, your commitment must be so high that nothing should stop you from achieving your goal. To keep learning, you must research a lot while expanding your context and building a strong base for your business. You must first understand the market and analyze what category of retailers would take your product if it is a physical product. You must also learn how your innovative concept will help people and solve their problems.

On top of that, you should understand who your ideal customers will be and who will be your competitors. Once you get this data, start working on it incessantly and look for the loopholes and remove it as soon as possible.

Learn to know the budget because you will have to study the highs and lows of the markets. However, you will also get an idea of how much investment is required to establish a startup. Go out, talk with your friends, talk with your family, speak with those who have their successful startups. You will surely get some brilliant ideas that can save you time and money. Keep on reading books, magazines, online articles, or blogs that are solely relevant to your business concept, which can help improve your knowledge of the specific domain.

Final tip

There is a great saying- 'Love what you do and do what you love!'

How perfect it is, isn't it? To become successful in your life, you should always do what you love. If you start doing what you love, you will automatically get the passion for completing it and discover new things that will take you to greater heights in life. On the other side, if you are loving what you are doing, then undoubtedly, determination comes in to give you all the power to touch the winning line of a successful business.

Also read:

What Is the Startup India Campaign?
Why Market Research Is Important for Startup Businesses?
Emerging Startup Culture in India
Startups & Small Companies in India: Eligibility, Registration & more

Beginners guide to make a startup successful