Your small business will always need fresh business ideas to stay at the top of the market as a market leader. One of the biggest entrepreneurial challenges is generating as much as possible ideas.
Many times I hear from potential entrepreneurs that they need ideas for their startup. But, what about later, when their startups become real companies? Are they don’t need any more new fresh business ideas to run their companies?
Startup ideas are only the beginning in the business ideas generation process. Dynamics of the environment in which operates your small business will need a large number of ideas to improve, to change, or to innovate something.
So, business ideas are must have for any type and size of companies.
Why You Need Lot of Business Ideas?
It doesn’t matter if the ideas are about new products, services, processes, business model or improvements of all of them. All of them are important in ensuring your business success. Today’s product lifecycle doesn’t allow you to not develop and introduce to the market totally new products and services. You can’t be the best if you not improve your processes or experiment and try new elements into your business model.
So, you need business ideas, and you need many ideas. The question is how you can produce an infinite number of ideas that will be available to you always when you need them? Here are some recommendations that you can use.
How You Can Generate an Infinite Number of Business Ideas
1. Your ideas will need to solve someone’s problem.
It does not matter if the problem is relating to your customers, employees, processes, or the environment. All problems, are good ideas for your company. If you solve the problems, your company will become the better company or more productive company.
2. If you want to observe the problems in the right way, you will need information about the problem.
When you know the problems inside and outside your company, you can classify and group that problems. When you research the information about the specific group of problems, it will bring you more problems and ideas about how to solve them.
3. Something that can be stupid today sometimes can be worth and important tomorrow.
Having an infinite number of ideas means that you have a database with all ideas. Some of them will look stupid from the today’s viewpoint. But, keep them all, because often I have seen that some of the most stupid ideas become one of the biggest opportunities later.
4. Remove functional boundaries for the idea generation process.
You will need ideas from everywhere in your company. Remove functional boundaries to collect any type of ideas from everywhere inside your company.
5. If you want more than one idea, search for possible ideas to solve the problem for customers, processes, market or industry as a general.
Ideas don’t come only from inside your company, or only from your customer’s problems, desire, and needs. If you want an infinite number of ideas, you will need a broader viewpoint. That viewpoint expands from your company, through your customers, market to the whole industry.
6. If you want to put in place the most effective ideas, analyze, experiment, and test them.
One thing is to collect ideas, and another thing is practically executing things about them. Experimenting and testing the initial ideas can bring more ideas that will improve your company.
7. Record important historical data that you can analyze later to generate more ideas.
How you are doing today, will need to improve tomorrow. In your databases about the today’s results and today’s activities, there are many hidden ideas you can use later. So, keep recording most important things related to everyday operations of your small business. It will become the priceless treasure for tomorrow.
8. At the end you want the results, so put your ideas into actions and learn to discover other ideas.
Solving one problem will bring other problem that you will need to solve also. Start implementing the most important ideas and generate even more ideas for the future improvements.