As you know all businesses start with a business idea that come from entrepreneurial brain. It is the part of the process how you generate business ideas. If the business potential energy of your business idea is at a higher level, the higher will be your overall business potential energy.
The business idea is the first step in business startup. But, one thing that can dramatically increase your business potential energy of your business ideas is if the business idea itself match your skills and your passion for something.
Three Steps of a Process to Generate Business Ideas
I have already written about three steps of a process to generate business ideas:
- The first step: Integration with your education knowledge, passion and hobby.
- The second step: Finding the problem at the market.
- The third step: Defining a target market.
If you accomplish the first step of a business idea creation process successfully, you will pass the half way to make your business idea to be with the highest possible business potential energy.
This first step when you integrate knowledge, passion and hobby is integration of your skills into your business idea. However, what are the skills? In the simplest form skills are defined as a knowledge of doing something or accomplishing something. This knowledge is covered through five different sources of knowledge:
- Knowledge from your home,
- Knowledge that comes the educational system,
- Your own intelligence,
- Your own experience, and
- Your hobby.
What will be future benefits?
Your skills are an inexhaustible source of business potential energy for your business. This is not the case only at the startup stage, but also in all business lifecycles stages. Simply, your skills will be your crucial competitive advantage of your business.
At the startup stage of your business probably the only thing that will bring you competitive advantage will be your skills. When you have the knowledge about something, you will have the power to bring your business to the success. Then you will like your job and this will bring higher potential to you as an entrepreneur. Also, the knowledge will bring some savings in your business.
You will experience the following benefits when you start your business if the business idea match your personal skills:
- You will have the knowledge about doing your business. If you have the knowledge you will avoid mistakes that can be dangerous for your business.
- If you have skills to accomplish tasks for your business, then you will save money for employing people to implement those activities instead of you.
- You can solve all problems that can occur in your business.
- A decision making process will be more effective and decisions with better quality.
- You will like your job. This will bring happiness to your life.
- Your passion of doing business will be on the highest possible level.
- Your job will not be stressful.
The Process to Generate Business Ideas
All individuals have some type of skills integrated in them. Some individuals can use them in the right way. Some of them will not. There will be differences among different entrepreneurs from the same branch.
If you want to generate business ideas that will match your own personal skills, you must pass through the following simple process of generating those ideas:
- Analysis of your personal skills. Here, you must ask and answer on several questions. What are the skills that you have? What skills are on a highest level and what skills are on lowest possible level? What is your educational level? What is your hobby? After you find all your skills you must write them in descending order from skills with the highest level to lowest level skills.
- Generate business ideas that match those skills. At this stage of the process, you must increase your entrepreneurial creativity. I have already written about increasing creativity in six tips to increase creativity. Now, you can write the ideas close to your previously noted skills. Each idea will be next to the skills that the idea will require from your side to be implemented.
- Select business ideas that match your skills at the highest level. When you select business ideas, you must ensure that the ideas match your skills that have been with the highest possible level.
After this process, it is better to have more business ideas, because this is only the first step in a generate business ideas process. Still, you must include market characteristics in your business ideas – problem and target market. But, as we noted before, this is the half of your job in creating a good business idea.