Every business person who has done very well in life is often asked how they come up with this idea. Well, the answer is never going to be that one day they just came up with the idea.
It’s always something that they had at the back of their minds or they noticed something or had struggled with something or saw a gap in the market between the customer and the company.
Hence, you know that there is no magic formula and it takes a lot to develop a business idea that will be successful and will really be worth something.
Try and make a list of things you like to do, see what other businesses are offering, make a mental note of what are the things that you can do differently after all the best ideas are the ones that leave the consumer feeling the need for it.
Here are some of the best ways to develop the best businesses in India
Have Conversations
When you start to look for ideas to start your business, do not just keep to yourself. It is important for you to network with people, whether they are your friends or family, you must keep talking to people.
You never know from where you get a good idea for a business. The more you talk to people, the more you will understand what their needs and difficulties are, and based on that you can develop your business ideas.
Travel
Travel is inspiring for everyone. It opens up the blocked minds and you would be encountering and getting inspired by so many things both positive as well as not so good experiences. Travel would help you come up with some new ideas in the most unique and beautiful way.
Study other markets
Study the market well. Understand what all the market has to offer and what is the demand of a certain product or service in the market. Based on that you can generate your business idea.
Also do not just focus on your geography, you can also cater to people sitting in other time zones or parts of the world and your business might do just wonders.
Turn Pain Into Purpose
There might be just 10 things or more that would be a pain for you. Something that you have to do seldom or every single day and it’s a lot of hassle, the experience is not good or you just have some other problem with it. You can use the Lio App to fix such problems in your business.
In this case, try and figure out what are those things that you dislike or are having a bad experience with and then try to come up with a business plan that turns your pain into purpose because just like you, many other people would also be dealing with the same problems.
Add Value to Any Existing Product
Another great way to develop a business idea is to work on an already available product or service and then adding value to it or reinventing it. Basically, go through the market and each product.
See what these companies are missing while offering their services and products, what are they missing, their challenges and what their customers are asking for. Once you have understood, now work hard on bringing the best business based on what consumers actually need and what is not available in the market at all.
Get Inspiration Online
There is no one or no company that is not present online. Everybody has a presence online and people are very vocal about what they like, they don’t or want. You can know about the latest trends and the needs of people by simply being online.
Hence get on platforms like Facebook, Twitter, Instagram, Youtube or many others and do a good survey and try to brainstorm on ideas based on the on going trends.
You can also know what a particular state or country is looking for or what the trend is in that particular region and work on that. For example, a little survey online, you can know about the trends and business ideas in Kolkata or any other state for that matter.
