10 Tips For Creating Business Ideas

June 17, 2008 by NaijaEcash
Filed under: Entrepreneur, Investing

How Do I Create Business Ideas?

You can create new business ideas in any niche you are passionate about by asking yourself 10 questions. Each question forces you to think deep and look for hidden opportunities which others have overlooked (because they were not obvious). I know you have been itching to make yourself stand-out by offering something unique, here is the opportunity, pick a product or service and subject it to the following queries:

Is there a better method of doing this? – Let your imagination run wild, you will be surprised at the kind of business ideas you will come up with. The less it conforms to the norm the better.
Can I make it bigger or smaller? – Sometimes size does make a big difference, that is called creativity in business. Give it a trial.
Can I add something to it, subtracts something from it, or rearrange the order of things? – Bloggers are good at this. They are always adding or subtracting something from their themes to make it stand-out! That is the way to go in tuning and fine tuning your business ideas, until you get the unique business idea that you are willing to execute.
Can I combine this with something? – Instead of marketing just a component, why not market a package of the entire component required to satisfy an identified need. GoDaddy is not satisfy with just selling domain names, they have started offering hosting plans and guess what; they are giving the competition a tough time with their $1.99 domain package.
What if I do the opposite of this? – Do the opposite of what is expected. Some have become famous using this method. While some Forums require people to pay subscriptions, few are actually paying money to subscribers! Don’t let people discourage you that this cannot be done. Some businesses that are thriving now were started with business ideas that people considered crazy!
How can I make it better, faster, or cheaper? – People are naturally in haste. They want better service delivered with speed and will be happy if they get it for free!
How can I give this a new twist? - Let you imagination run wild and wide. Get creative, don’t be afraid of failure.
What else can I use this for? – I learned that the little Post-It sticky paper note you find in offices originated from a failed project. Instead of throwing the wrong result away, it was modified to serve another purpose. That is what I call creativity in formulating a business idea.
Who else need this? – Do a little research on that product or serve the result may surprise you. For example, a Nigerian Entrepreneur, Olu Steve a.k.a “Oluiyan”, have a large factory in Germany where he manufactures Yam Flour. I thought it is only the Yorubas in Nigeria that love Pounded Yam (one of my favorite food), but I was wrong. Non-Nigerians love pounded yam. That business idea that doesn’t look feasible have made the guy a millionaire.
How can I make this more marketable? – Maybe better packaging, better delivery method etc.

There you have my humble opinion on how you can create your own unique business ideas. Don’t bother when people tell you that your ideas are craze, not-feasible or mere wish. So many successful Entrepreneurs have experienced such unfounded criticism at one point or the other in their entrepreneurial adventure.

Do you think this tips are helpful? I know you have some ideas beside these ones and you want to share them, please tell us about them in the comment section. You can get future updates to this post 10 Tips For Creating Business Ideas, by subscribing to my RSS feed, subscription is free, Cheers.

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Tags: Entrepreneur

Comments

20 Comments on 10 Tips For Creating Business Ideas

muhibbuddin on Tue, 17th Jun 2008 4:41 pm

all you said is right both online and offline business, but you can make
special if you want for both of that.

For Your Blogging
Muhibbuddin

muhibbuddins last blog post..Blog as a business

All Else Failed » NaijaEcash: 10 Tips For Creating Business Ideas on Tue, 17th Jun 2008 8:56 pm

[...] NaijaEcash: 10 Tips For Creating Business Ideas What else can I use this for? – I learnt that the little Post-It you find in offices originated from a failed project. [...]

Tom - StandOutBlogger.com on Tue, 17th Jun 2008 10:08 pm

great questions that are sure to get people thinking about new ideas!

Tom – StandOutBlogger.coms last blog post..John Cow Bought One Of My Super Cheap Entrecard Spots

Olanrewaju O LEWIS on Wed, 18th Jun 2008 11:00 am

Great list of thought-provoking questions that can spur anybody willing to succeed in business to act.

One other thing that can help here is this:
-How can you turn this gift or talent into a money-making enterprise? Have you discovered that you have great humour – maybe you will go for a compere, standup comedian or speaker..
There is a talent in us or better still some have loads and don’t know how to generate/create business ideas from them.

Olanrewaju O LEWISs last blog post..Helping others to grow…

Mwangi - the Displaced African on Wed, 18th Jun 2008 11:23 am

Great tools to get the imagination going. With the low cost to entry on the Internet folks should definitely be able to finish reading your article and at least begin micro-testing one of your suggestions, for free or at dirt cheap prices.

Mwangi – the Displaced Africans last blog post..Lazy Music for a Lazy Day…But Wait, There’s More

Talen on Fri, 4th Jul 2008 4:14 pm

Some great points to ponder. I think the main thing should be love what you do…if you have passion for what you are selling or marketing then it will show through and the points above then become infinitely invaluable.

Talens last blog post..Thai Police Waching Nude Chinese Teen

eranda on Fri, 4th Jul 2008 7:00 pm

great post.something i d love to do everyday and blog about it often…creating business ideas.keep up the good work.

erandas last blog post..One easy way you can start earning in the next hour.

hesika on Sat, 5th Jul 2008 7:27 pm

Some great points to ponder. I think the main thing should be love what you do…if you have passion for what you are selling or marketing then it will show through and the points above then become infinitely invaluable.
Talens last blog post..Thai Police Waching Nude Chinese Teen

That’s, what I liked to say, too.

The first and most important thing in creating a business, is that you have to love, what you are doing. If there is anywhere, who does a business “only to earn money”, you will not see him a long time.

But is there any who loves, what he does, it may be needs some time, but he MUST be successful. There is not other way, because he will not to stop before he is successful and he will go on and on and on…

Capy (Mark on Tue, 15th Jul 2008 6:23 am

Thank you for posting all of these great business ideas. They will offer inspiration to many .

mary on Tue, 15th Jul 2008 7:45 am

These are very good list to start by.
And i totally agree with the upper post that said love what you do.

That is key for me,I have to love what i do or i can not get into it.

Thanks

psycheskinner on Tue, 15th Jul 2008 2:23 pm

I think a lot of your tips are a bit abstract, but good food for though. You could give more examples.

psycheskinners last blog post..Advertising Oopies #2

LucyVet on Tue, 15th Jul 2008 2:49 pm

That’s a great list, really useful for anyone new to setting up a business. I agree with the others that loving what you do is really important too. Thanks so much for posting this!

Beamer on Tue, 15th Jul 2008 5:07 pm

I was kind of Disappointed. Seems like a good start, but it is kind of like an enigma wrapped in a theory. It seems to be lacking The answers someone would be looking for, or at least point them in the way.

I like the layout and the colors. The blog loads up pretty fast.

Have a good day.

Beamer

cchiovitti on Tue, 15th Jul 2008 7:15 pm

This is a great list! I was writing today with some thoughts in a similar vein, I’m going to link to here on it because this is just so useful to people just starting out. We read these kinds of tips over and over again but you’re able to articulate it all so succinctly. Thank You!

Diane Scott on Tue, 15th Jul 2008 8:54 pm

#8 is a great one. Often that “one thing” has numerous applications if you just think outside the box

Brad on Wed, 16th Jul 2008 1:32 am

I’m here to learn, so I’ll give them all some consideration. Thanks for taking the time to lay out your ideas.

OddRachel on Wed, 16th Jul 2008 4:30 am

This will be interesting to see how I can apply this to my photography.

OddRachels last blog post..The Surf

Tom on Wed, 16th Jul 2008 4:55 am

Hmm … these are good. But to me (a non-businessman) they seem like step 2. I would imagine that the first step is question #9, do a trial, and then question it.

Toms last blog post..Driving in Japan

Jules on Wed, 16th Jul 2008 5:09 am