HOW TO GENERATE BUSINESS IDEAS

2. 1 MEET NEW PEPOLE...
2 KEEP A “PAIN POINT” JOUNRAL...
3 TAP INTO YOUR INTERESTS...
4 EXPLORE NEW WAYS OF THINKING...
5 TRAVEL...
6 GO ONLINE...
7 DO YOU MARKET RESEARCH...

3.  Seriously go out and meet new people to get out of your
ideas rut. Talking to new people who not only don’t think
like you but who don’t know how you can help freshen up
your brainstorming process. Go to networking and learning
events, talk to people out side your industry and/or strike
up a conversation with your existing customers.
https://www.marsdd.com/events/

4.  Successful companies all have one thing in common: they
solve a problem. Companies like Google, Netflix and Uber
solve specific pain points in their marketplace and went on
to achieve great things.
 I wish I could find information on a specific topic from various source quickly .
 I wish I could rent movies and television shows directly from my television at a low cost.
 I wish there was a cheaper way to get a ride.
ASK YOUR SELF: WHAT BUGS ME? KEEP A JUORNAL WHERE YOU WRITE DOWN YOUR EVERYDAY FRUSTRATION. REVIEW
THE JUORNAL REGULARLY AND RUN IT BY OTHERS TO SEE IF IT’S PAIN POINT FOR THEM. WHAT PRODUCT OR SERVICE
COULD YOU CREATE

5.  The famous restaurant and travel guide is an often cited example a
finding a business in something you love. The founder Zagat , Tim
and Nina Zagat, were lawyers who love to eat out at restaurant. In 1979,
they started a newsletter asking their friends to rate restaurant. As the
newsletter got bigger every year, they began charging money their
work. In 2011 the company was bought by Google. Not bad for a
newsletter. Tack an inventory of your hobbies and interests. What are
the business opportunities youcould create from something you love to
do anyway?

6.  New methodologies and ways of thinking are constantly evolving and some
industries as better at embracing them than others. Take design thinking for
example Design thinking is a mindset and a methodology used to better
understand problems and implement creative solutions, articulate first by
David Kelley, co founder of the design firm IDEO. The company has designed
products for iconic brands such as Apple, Steelcase and Oral-B. Read up on
alternative methodologies and learning methods and apply them to your pain
point journal. Or Apply to an alternative learning programme such as Studio
[Y] if you are in inflection point and need a reboot, or
explore entrepreneurial thinking resources for a new learning style.

7.  There is a whole big world out there of great ideas there aren’t yet in
your market. If you see an ideas you love in your travel, you can tack it
back home and give it a new spin that specifically addresses the needs
of your market or community. Even if you don’t find inspiration,
travelling will help tack you out of your surroundings and refresh your
system. There’s also places around the world that have ideas waiting to
be commercialized, such as in universities that have technology
transfer offices. Tack an existing idea and launch into market.

8.  Don’t waste your time looking at cat videos online. Look up entrepreneurship
and industry related communities. Go on Twitter and search relevant hostages
to see what people are tacking about. For example if you are interested in social
finance and social innovation, consider hostages #impinv (impact investing),
#socfin (social finance), #socinn (social innovation), #susty (sustainability),
#socent (social entrepreneur or social enterprise) and #csr (corporate social
responsibility). You might learn about new niche fields, networking
opportunities or other topics that might spark something. Become a student of
your industry and entrepreneurship.

9.  So you have potential inkling of an idea but aren’t sure if it really has any
potential. Research the market to see what's out there and where your ideas
could fit in. Be sides your standards online search and library stop, there’s tone
of resources out there to help you along. For example MaRS Market
Intelligence provides Ontario entrepreneurs with access to current, relevant
and timely information about your industries, competitors, market, potential
investors and partners, intellectual property and best business practices at no
cost.