How to Come up with a Business Idea

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Do you always ask yourself this question “How do I come up with a winning business idea?” If your answer is Yes. Then, follow the tips below to get you started.

Creat a Vision 
This is a major step that someone should take, because where there is no Vision, there is no Provision. If you can create a vision then it is very certain that idea creation will come up and provision automatically will follow. There is a way you can create a vision, close your eyes for a few minutes and do clever tricks, which appear magical, a detailed image of what you want your life to look like in 5 – 10 years, be as specific as possible. 
Give answers to the questions below:

1. Where do you live? 
2. How do you spend your days? 
3. What kind of work do you do ? 
4. Do you work alone or with other people? 
5. Who surround you? 
6. What do you do when you are not working ?

Don’t limit yourself to these questions; create a vivid vision of yourself, touching on things that are important to you. These are all personal issues that will impact the type of business you pursue. This activity will help you create a foundation for choosing a business, making business decisions and setting clear goals.

Determine What You are Good at and What You Like to Do 
It is often useful to look inside yourself to figure out what you like and dislike, and where your talent lie. Its one thing to come up with a winning business idea and it’s another thing to come up with one that fits your skill set and interest you. One of the best ways to do this is to make three (3) separate lists:

List 1 - What are you Good at? 
Everyone is good at something and many skill can be the foundation for a business. You might be naturally organized or have a skill for fixing things. You may be so used to your skills that they don’t immediately come up to mind. Observe yourself for a few week, with an eye out for your aptitudes and by asking people who know you well for their impressions of what you excel at. From my own personal experience, I don’t ever think of it that one day I would become a writer, author or publisher, but I could now remember, what people do say whenever I held pen writing in their presence particularly a family brother that “ pen is very good I your hand and you will use it in future to eat”, I don’t count it then. But now, I am developing writing skill, likewise you can look at what you are good at and develop the skill.

List 2 – Skils You Have Acquired Over the Years 
Write down all the work responsibilities you have had, think about the varied tasks you know how to complete. Make sure this list is complete; there should be at least 10 distinct (plan) items.

List 3 – Things You Like to do
List the things you enjoy doing and this may not be easy as it sounds. This list should be at least 10 items long. Stretch beyond your hobbies and interest that spring to mind immediately. Ask people who knew you as a kid, what they have seen you doing when you are happiest. Keep these three lists in an accessible place ( on your desk) for several weeks and every time an idea comes to you, jot it down in the proper category.

Figure out what the Market Needs. 
So far, you are been looking inward to come up with your business idea. Now its time to look outward to discover an unfilled need that you can meet your product or service. There are plenty of “HOT NEW” business lists out there. These may stimulate some ideas, but the best business idea will come from you and will be based on who you are and what the market is looking for. So, while you are doing your soul searching and list making, put your antenna and look out for business opportunities. Don’t be afraid to be looking or sounding odd and don’t be discouraged if your first few ideas are cracked or lessens, put them aside and keep working, the sky is starting point for you

Credit: Adetola K. Adenuga-Kasali 

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Segun Ogunlana

A social innovator, a fixer, who likes to make a difference and get things done better. His focus covers Project Management, Systemic Innovation, Product Development, Design Thinking, Business Strategy, Set-up & Development. Some call him a super manager, natural marketer and sales man. He is a Chelsea fan too.

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