DEVELOPING IDEAS

Clever product and service ideas are a kobo per dozen.

Everybody has one, and most of these ideas never get implemented.

The successful entrepreneur starts with a basic idea. This idea is first tested to staying power. Can it be used to grow a customer base, and will it be profitable?

The pseudo-entrepreneurial itch often ends before the basic idea gets tested. Studies show that a high percentage of people who open new businesses do so because they are frustrated with their current job.

They'll jump into any business venture that comes along without first checking it out.

Ninety percent of this group will go out of business in their first year at the most.

Those that make it are smart enough to recognize the symptoms of their emotional state.

They are acutely aware that they may be in a vulnerable position.

As a result, they may hang on to the security of their current job and start a business on the side.

They'll make the move to become a full-time entrepreneur when the time and the circumstance are right for them and after they have thoroughly checked out their business venture ideas.

There are three basic concepts to keep in mind as you develop and refine your business ideas.

Be Creative!

The opposite of creativity is rigidity. Entrepreneurs are not rigid in their thinking. If you cling to the old ways of doing things because "that's the way we have always done it," you'll never come up with the new solutions that are demanded by today's small businesses.

To test your creative ability, practice finding ways to tie together seemingly unrelated ideas.

Understand Every Problem
You must have a clear understanding of what it is you are trying to achieve and be able to identify the obstacles that stand in your way.

Break each problem down so that you understand it and know what you need to do to eliminate it.

For example, the problem may be that you need more space. Why do you need more space to make your business more visible, and what are the alternatives? An alternative may pose a new set of problems, but if they reduce the magnitude of the original problem, the alternative may be a more viable option.

Brainstorming

When you come up with a solution to a problem, brainstorm the solution with as many qualified people as you can find to avoid judging your own answer.

Accept modifications that make sense, and be prepared to replace the solution with a totally new and better alternative.

The key to the brainstorming process is to be objective.

Brainstorming is an excellent way to come up with a new set of ideas for new products, services, or improvements that could accelerate the growth of your "business in the making"

Good post.

i understand what you really mean here. Meanwhile, not every one can undergo such task. And that's why they really need a well researched ideas to start on.

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To Our Success!