How to find a $100M idea in under 1 minute?
But I cannot find a good idea.
Most people with #entrepreneurial spirit often find themselves in this conundrum.
They want to do something, really want to make an impact, but they are not sure of the specifics.
Well, here are a few ways for you to unlock your entrepreneurial potential -
1. OPNG (Old product, new geography) — You don’t have to always reinvent. Look at successful companies abroad with no presence in your country. Compare the markets and replicate the model with necessary changes in your geography. You can do so with ideas that are limited to only some cities in your country.
2. OPNM (Old product, new market segment) — Look at a successful product. See the market gap it has left and address that segment of people. Like #Uber for Premium settings, etc.
3. Then there’s the good old way of Observing, and actively listening to the people around you. Problems taken up this way need to be validated before acted upon.
4. Some problems which are not obvious to others, but to you given your profession.
5. Brainstorm freely. Then take at least a week before revisiting that list.
6. Ask people about the problems they’d wish to see go. The most recurrent ones might present a case. People Surveys & interviews are tricky. You must know how to properly design one, and how optimistic you can be with the results.
There are a lot of other ways to do it, which I shall be discussing in the upcoming post.
However, remember, that this journey of entrepreneurship is going to be testing, and full of #self-doubts. You won’t be too sure of yourself at multiple moments, but that’s it.
Even I do have my times when I feel like I don’t really know what I am doing. But I believe that if you do things with a little strategy, and a lot of honesty in your heart, things do eventually come around.
With that belief, I move forward; So should you.
