How Can You Generate An Effective Startup Idea?
Disclaimer: This Article is Written by Muzammil Kamran & Anum Viqar, and Updated by Yusra Qasim.
Everyone has ideas but do you have one that can change the world? That’s what matters.
People often waste enormous amount of time thinking startup ideas and end up making such a unique product that nobody wants! This pattern of thinking is totally wrong. Diving deep into the realm of ideas that change the world you’ll find out some commonness among how they are conceived. In search of uniqueness, people often disregard an ordinary problem which can be solved in a creative and imaginative way. Many successful entrepreneurs have debunked the myth that great ideas only come to the gifted individuals.
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However, there are some ways that you can give birth to an innovative idea
Some of the most successful ideas have one thing in common; they all solve a problem. Attach innovation to it and BAM! You have it. But still, it’s not as easy as it sounds because you have to be very careful while selecting the problem and analysing it. For example, in our country, a major problem was that women felt unsafe while travelling in cabs or local transportation and that is the reason why Careem and Uber are enjoying success. Local entrepreneurs can benefit significantly because this country is burdened with problems at every level. Your idea can include creating cheap and handy devices for cleaning water. The biggest threat the world faces now is climate change, there is great opportunity for clean and renewable energy solutions. To generate an idea you must observe what is bothering you and the people around you, and how you can solve it. People tend to forget easily, make sure you write down any problem you think is worthy enough of solving.
One of the reasons you are unable to come up with an idea is because you are thinking about a lot of things at once. You must specify and break down an area which makes working on something easy. Uni-dimensional and focused approach is a sure way of coming up with something great. Ever faced a situation where there are multiple books on your desk and you start reading one, leave it, start another and after a while you’re left with a bunch of unfinished books. Clear your desk and start reading one book. This way you’ll be able to complete it. Same is the case with ideas. If you are planning to create a device which solves energy, political, technological problems all at once, you are bound to fail.
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You need to be aware and up-to-date about what is happening around you. Many companies, however, successful are always looking to make their services better. Field-related individuals can make use of opportunities like these and in turn create a great product. It is optimum for field-related professionals because they have the necessary skills to make a great product.
Make something better:
There are a lot of ways to travel but things that have prevailed are the ones that make your experience and lifestyle better. This is why we have cars and planes instead of horses and camels. A great marketable idea can come to you if you focus on solving an existing industry problem in a better and innovative way.
One of the most important lessons about generating a good idea is to keep thinking even if most ideas you have suck. Hence, you need to keep thinking and exploring are possible options. Great entrepreneurial stories are all full of failed ideas. But, all of them stayed the course of never giving up. Bill gates failed terribly at Traf-o-Data but now he has a billion dollar idea like Microsoft.
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Is it marketable:
One of the worst things people neglect about ideas is asking if it is marketable? You need to start thinking in terms if people who are going to buy your idea. This is what attracts investors as well. Nobody invests in something which people don’t want to buy. It is the job of an entrepreneur to find out how he can provide a solution which people will actually spend their money on.
Keep your ears open:
Always discuss what you are thinking with fellow entrepreneurs, industrialists and normal people. This will open your mind to many new dimensions your idea can expand into. Let’s say you are trying to re-innovate something which already exists. Talking to people who are already working on similar ideas and those using the service can give you valuable insight about new directions your idea can take. Also if your idea is completely novel, prepare a few questions and ask in advance if people are going to use your idea as a service. e.g. Are you unsatisfied with using a particular service? Would you be interested in using an app that finds jobs? etc.
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Don’t give up on an idea too soon:
Most of the time people give up on an idea too soon because after a few negative feedbacks. They make up their mind that it is just not going to work. There is always wisdom buried in failure. You’ll get to learn from failure about what works and what doesn’t. Perseverance and determination are must have traits of entrepreneurs.
Don’t buy into the money myth. Just because someone is making a ton of money in a certain area doesn’t mean you’ll get the same result by opting for that field. Always create something around what you are knowledgeable about. Don’t pursue anything half-heartedly. You have to become an expert in your field do hold true value otherwise you will fail.
Hence, it is wise to conclude that a unique idea is not only a god sent idea but also one needs to avoid certain mistakes to come up with a workable idea. Persistence and innovation can bring a great idea on table if one avoids vagueness, repetition and believing in non-proven myths related to business.
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