Eureka! I found the idea of the century! The next day, you see that the idea of genius has already been taken and you are discomfited! So, how do you find your business idea when you are passionate about entrepreneurship? Certainly it is not the insurance to find the revolutionary concept that you expect but it can help you avoid arriving on the market with a product that will be a fiasco.
When you finally choose your idea, your concept, you ask yourself a lot of questions. Is this idea worth it for my time, my resources? Is not she just going to make a huge flop? Will not I drive my team directly into the wall with such an idea?
These are all the questions that appear in the minds of entrepreneurs when they start. It is obviously not possible to be 100% sure that everything will go well with your idea but there are at least some ways to minimize the risk of failure.
Your idea is great but it does not match the market
Today many companies are coming to the market with goods that people simply do not want to buy. This is the first trap in which many entrepreneurs fall. The important thing is not to find your idea cool and achievable but although there is a real market, a real demand exists.
Your product must address a problem or at least a concern. Even if it’s on a very small scale, it has to somehow make the life of your possible customers easier.
To make sure you do not go wrong, do not think about the product first, but the problem and how you will find the solution. A problem necessarily hides an opportunity. Do not say “I could take this product out” but “I could solve this problem”. It is very important when you find your business idea.
Analyze trends to find your business idea
At the moment, everything is going very fast, with the internet, especially smartphones. New needs are constantly being created. The world is now teeming with innovative startups that are changing things and technology. You must, of course, know the current market on which you want to get started but also its possible evolutions.
It is essential to analyze all that could have an impact on the market in the coming years: social, political, technology, economic growth … It is not easy but it is necessary to have a vision clear what this market will be in a more or less near future. Look for all the information you can find on trends in this market, blogs, websites, newspapers, magazines, magazines … You have no excuse for not being fully informed. In this, you avoid you to arrive on a market on which your offer will not be adapted in the very near future.
If you have not yet identified a target market you can of course also use societal trends to find in which market you locate. Anticipating a need that is likely to be born quickly is a risky gamble but can quickly pay off in a current world marked by the constant evolution of lifestyles, technology, needs …
Choose a sector that you are passionate about
By wanting to become an entrepreneur, you choose at the same time to engage fully in your project. You will spend all your time so it is essential to choose an area that is really important to you. Your passion will be your best guide to find your business idea. There will inevitably be many obstacles that you will have to overcome later so make things a little easier by choosing a domain that really interests you. Do not try to create a business imperatively but rather to create a company that looks like you.
Share your ideas
It is difficult to conceive but sharing your idea with other people is essential to find your business idea. You can obviously be tempted to keep everything for yourself but in reality, it is not necessarily a good calculation. Of course, it’s not about sharing your idea with the first comer, but rather with your family, with friends you can trust. You need more advice to get the most out of your idea.
In this, you will be able to identify gaps in your project and what you can improve. By working alone, it is difficult to take the necessary distance on his idea. In your head, the idea may seem brilliant but you seem much less promising once you expose it concretely in front of a “public”. Do not hesitate to call on a maximum, ask them if they would buy your product, what they would change. It is this return that will allow you to refine your idea.
Engaging with an uncertain idea is not heroic. We can not advise you to follow these rules before starting the adventure. Do not let your enthusiasm obscure your vision and lead you straight to failure with a rickety idea.