How to Discover a Business Idea that Works

Discovering a business idea that works is on the top of every entrepreneur’s to-do list. Many successful ideas in business are not especially unique, but they work because of their angle. A specific example of this is the success of the Dollar Shave Club, which broke into the multi-billion dollar razor market with a new […]

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Discovering a business idea that works is on the top of every entrepreneur’s to-do list. Many successful ideas in business are not especially unique, but they work because of their angle. A specific example of this is the success of the Dollar Shave Club, which broke into the multi-billion dollar razor market with a new delivery system rather than a new razor. Dollar Shave Club’s special delivery system enabled them to deliver multiple razors at special prices and eliminate the hassle of shopping for razors at the store.

Dollar Shave Club is just one example of a business idea that doesn’t rely on product innovation, which is what a lot of people become obsessed with when they seek out a business idea that works. There are a few major ways that people can search for business ideas that actually work using their day-to-day routine.

One major source that is available to people these days is the internet. Specifically, searching social media chatter for ideas benefits the modern entrepreneur. Social media is full of people explaining their day to day struggles with technology, product, and services. The modern entrepreneur has access to so many blog comment streams, social media posts, and product photographs that they are bound to come up with business ideas that work if they look hard enough. It’s hard to tell what people will find that is within their niche, but suffice it to say that there is a wealth of information out there.

A second major thing modern entrepreneurs should look at when they are searching for business ideas is their own lives. They should try keeping a journal if self-reflection isn’t their thing to help them garnish their ideas. Entrepreneurs have business solutions available to them like everyone else. Keeping track of business problems like internet storage, organization, or services needed is a great way to look at areas that need innovation.

A third way to look for business ideas is to try to do your future self a favor. Like those entrepreneurs who are passionate about climate change and its effects on people’s health, people who look for ways to do favors for their future selves may discover that their business venture is about more than money. People can check out statistical reports on health and epidemiology or ecology to get them started.

This article was originally published on AndresManuelOlivaresMiranda.com.

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