Although hypothesis validation, thorough research, and quality execution are essential ingredients of a successful startup recipe, the idea is the foundation of it all. However, many aspiring entrepreneurs experience trouble when they begin the business idea hunt process. How do you boost the brainstorming sessions? And what can really take you one step closer to finding an awesome idea worth building a viable business around?
The truth is that nobody can give you the “magic wand” answer to how to come up with startup ideas that’ll make you a fortune. Just as no one can guarantee that the idea you came up with will become the next big thing. Nonetheless, there are a few frameworks, methodologies, or tricks that can take you a few steps closer.
Here are several ways you may try to find startup ideas:
1️⃣ This one might be right on the surface, but doing a simple Google search or trying to ask Chat GPT a question might as well be a nice starting point. You most likely won’t find your million-dollar business idea like that, yet it might remove your blank page fear and give you some food for thought.
2️⃣ Another great tactic is revising the problems you personally face. Is there something you’re constantly struggling with that could be eased with a new product, service, or solution? This might be a product worth building if others have this same pain point, too.
3️⃣ Browse the products or companies that have failed in the past. Yes, they didn’t make it, but there could be legitimate reasons for that (like poor timing or lousy execution). It doesn’t mean that the idea was bad, though, or that you can’t do it better.
4️⃣ Speaking of which, are there existing products or features you can visibly deliver better? If you spot a major weakness in a process or some irrational functionality that can be fixed with a new product, this could be your chance.
5️⃣ Plus, you may also browse other markets, industries, or continents altogether! By getting acquainted with products that are popular in other countries, you might be able to allocate something to modify locally.
What else? Browse 1️⃣0️⃣ more frameworks in the full article. It’s packed with examples of how renowned brands and successful entrepreneurs have come up with their startup ideas ⇢