Finding Great Startup Ideas: Best Tips
Are you a serial entrepreneur who has just started to look for various ideas so that you can set a great startup? If so, you must have researched every corner of the internet in order to get one idea that can change your world.
Scrolling various websites to get an idea is not an easy task. It is the foundation of your business, and to make your business robust in the cut-throat competition; it is the only sword who can help you to beat your rivals more proficiently.
What is a startup idea? What do you think after wording these words? Well, it is the bridge of your business from where you will start your journey in order to get success by passing through this. Do you want this road or bridge broken or even gap? Obviously, not!
So, before imbibing any new information regarding business in your daily regime, it is better to stimulate your brain in such a way that it can come up with as many good ideas as possible.
Attracting success in the entrepreneurial world is not a mystery; in fact, it is a long and arduous journey. This statement has been supported by the saying of Sun Tzu, that any thousand-miles journey begins with a single step.
But the real challenge is to come out from your comfort zone and then step into the competitive world with a gaming-changing idea. Undoubtedly, everyone can create an idea and start their business in the marketplace. But the real question is how they will make their idea to a unique and game-changing idea?
That’s the main issue! That is the main reason why several people fail in this world. So, how do you come up with the right startup idea? It is a simple question, but it’s actually hard to figure out the answer because not all ideas are the same.
Let’s dive into the article and get some information from some great success stories Founder’s has been exposed to so that you can come up with great ideas.
This blog post outlines a framework that is designed to fire up your best creative thinking modes, triggering the creation of new ideas.
Want to know what they are? Keep reading–
1. Implement Strategic Foresight
The first and foremost tip for finding a great business idea for your business is to implement strategic foresight. An entrepreneur’s job is to develop a change whether they are thinking of locally or internationally. In simple words, it is your job to bring the world to a future that only you can see.
In fact, Peter Drucker says that every entrepreneur should look for some changes, properly respond to them, and then use it as an opportunity, and exploit it in such a way that it would be confused enough to pave a new path for your success. So, how are you going to look into the future?
Will you go to your local fortune-teller in order to get some imaginative picture from the crystal balls? Although it is quite impossible to forecast the future, what you can do is employ your management team to work on the idea, call “strategic foresight.”
In simple words, strategic foresight is the ability to make informed and educated guesses so that you can develop a great business idea, even though, this process is just like trying to predict the next market trend.
With this help of strategy, you can look into the past for all the recurring trends, and then apply to the future. The main purpose of this strategy is to take out all the information that are available in the present and actively implement strategies to shape and inform the future you want.
Moreover, it can be either related to the planning for trying to manipulate already existing ideas or coming up for the probable outcome by predicting the future about the marketplace so that you can easily achieve the preferable result. And Indiegogo is the best example, we can present to you as in this situation.
Nowadays, it is the most popular and the largest crowdfunding platform in the world. You can learn from their stories how they had looked into the future to disrupt an entire industry and changed the world with the advent of crowdfunding.
2. Solve a Personal Problem
Solving an existing or personal problem of the customers is one of the best ways to come up with a great startup. The problem can be anything whether it is a sort of pain point that your customers are dealing with all the time or any wish that can make their life more comfortable and more relaxed.
In the competitive marketplace, you are not going there just to complain, in fact, you are there to figure out the solutions for your business. Presenting yourself and your brand with a great business idea that is based on the clarification of various problems must be sound like the obvious, no-brainer solution for coming up with a startup idea. But trust us, you would be surprised at how many come up with a solution for a problem that doesn’t even actually exist in this world.
Have you heard about successful startup incubator Y-Combinator? They call the process of coming up with a solution to an existing solution, “sitcom ideas.” In short, the ideas that sound like something a sitcom writer came up with for a vaguely plausible character, but are actually incredibly bad.
3. Follow Your Passion
For success, you need to have passion as your key ingredient. But what do you mean by the word, a passion? According to successful celebrities and business owners, it’s a word that describes a strong and barely controllable emotion.
As Steve Jobs states about the passion that-
“People who say that you have to have a lot of passion for what you’re doing and it’s totally true. And the reason is that it’s so hard that if you don’t, any rational person would give up. If you don’t love it, you’re going to fail. So you’ve got to love it, you’ve got to have passion.”
If you have a great passion for your startup idea, then believe it, no one in the world can stop your success. Some people misunderstood dream or hobby with the word passion. And they just blindly follow the phrase, “follow your passion” and fall under flawed advice, not because it’s terrible advice, but because of a severe misunderstanding of what passion actually is. For example, the fact that you like to bake as a hobby doesn’t mean you should become a baker, much less a business owner.
Passion is what you can safely determine and it is kind of emotion that lives inside of you and helps to drive you towards your goals. It is the ability of yours to breed curiosity, confidence, and motivate you more than anything else in the world.
If you don’t have the passion as an entrepreneur, then you are nothing in this world. In fact, when you read any success story of an entrepreneur, you will yourself discover that it is a kind of constant element that helps to follow your passion without any disturbance or the urge to make your money.
As Tony Hsieh, CEO of Zappos, says: “Chase the vision, not the money; the money will end up following you.”
4. Improve Current Technologies
And last but not least, the tip that you need to follow in order to generate an excellent and game-changing startup is to improve existing technologies in the world. With the advancement of technology and global opportunities, everyone looks for some innovative ideas so that they can make the life of others much easier and comfortable.
As a newly-made entrepreneur in the world, you need to develop an approach that aims for disruptive innovation. As a matter of fact, several incredibly successful entrepreneurs in the world have made the lives of millions of people easier like Facebook, Instagram, and much more. Some people have also used different clones of pre-existing ideas like something that has earned the, almost universal, ire of many of their peers.
So, before coming up with an idea, you need to make sure that you know each and everything about it. And if you are thinking about following other techno-related ideas, then you need to read the sayings of Pablo Picasso famously, who said that “Good artists copy, great artists steal.”
Be creative and do thorough research work about everything, especially if you are thinking about launching a techno-based company. You need to provide value beyond what already exists so that you can bring change to the world and get a path/road for your business success.
Ready To Come Up With A Great Startup Idea?
By that, you should get some notion of generating good and unique ideas for your startup, and how they can bring success in your life. Just follow these steps so that you can come up with a great startup idea. As we all know that starting a business is like riding a roller-coaster, you will come with good as well as bad times.
When we are on the top of the road like in roller coaster, you feel delighted and pleased, but when it goes down, then you feel overwhelmed, anxious, and nervous. So, get a lesson from a successful entrepreneur how they managed in their professional life and how they come up with good ideas.
If you pay full attention to any of the successful stories, you will discover some sort of pattern, and that is dedication, persistent. They never accept the failure stage. In fact, they keep on moving irrespective of the fact that they are facing failure or success in their business.
Therefore, just set some goals, build yourself a clear vision, and let your ideas take shape. Work hard to turn your idea into a reality and let it change the world. And if you want some help to set up your business in Hong Kong, then Startupr can help you sail through the storm.We will help you think through every aspect of your potential business idea, including how to test it out.
We will also assist you in gathering important documents for your business and incorporating it in the jurisdiction of Hong Kong. Our unique same-day check system ensures that all the information is checked on the same day as it is entered in the form.