Coming up with a Business idea is more often harder than developing a Business Plan. Having a good Business Plan is important for every entrepreneur, but what if you do not have an idea upon which to build a plan?

Here is a step by step guide on how to come up with a Business Idea


  1. Create a Vision- Get your creative mind flowing.

There are many different ways to accomplish this task. Closing your eyes for a few minutes and just letting ideas flow, play a game, read a book, paint a picture, play a sport, listen to a talk show, participate in a talk, etc. The point is, do something that gets you thinking and then focus that energy into creating an idea/concept/product.

Create a clear vision of yourself not ignoring things that are important to you. These are all personal issues that will impact the type of Business you pursue e.g. being a city or a country person, wanting to meet people or talk on the phone, liking to travel or sit at your computer etc. This activity will help you create a foundation for choosing a business, making business decisions, and setting clear goals.

2.       Determine what you're good at and what you like to do

Look inside yourself to figure out what you like and dislike, and where your talents lie. It's one thing to come up with a winning business idea. It's another to come up with one that fits your skill set and interests you. Your business has to keep you excited so you can thrive over the long haul.

One of the best ways to do this is to make three separate lists:

List 1: What you're good at
Everyone is good at something and many skills can be the foundation for a business. You might be naturally organized or have a propensity to fixing things. You may ask people who know you well for their impressions of what you excel at.

List 2: Skills you've acquired over the years
Whether or not you've worked in a typical environment, you no doubt have accumulated many skills. Write down all the work responsibilities you've had; think about the varied tasks you know how to complete. Make sure this list is complete -- there should be at least 10 distinct items.

List 3: Things you like to do
List the things you enjoy doing. This may not be as easy as it sounds. This list should be at least 10 items long. Stretch beyond your hobbies and interests that spring to mind immediately. Again here you may ask people who have known you for a long time -- particularly people who knew you as a kid -- what they have seen you doing when you're happiest.

Keep these three lists in an accessible place (for instance on your desk) for several weeks, and every time an idea comes to you, jot it down in the proper category. Ask people who know you well for their input or to help you jog your memory.


3.      Figure out what the market needs

So far, you've just looked inward to come up with your business idea. Now its time to look outward to discover an unfilled need that you can meet with your product or service.

There are plenty of "needs out there. These may stimulate some ideas, but the best business ideas will come from you and will be based on who you are (1 & 2) and what the market is looking for(3). So while you're doing your soul searching and list making, put up your antenna and look out for business opportunities!

In summary Developing a business idea is a matter of creating a vision, leveraging your strengths and determining what the market needs. These three steps should get you started.

TIPS;

·         Don't be afraid to be peculiar and don't be discouraged if your first few ideas are flawed. Put them aside and keep working.

·         Do not expect miracles the first time. Go through the process and everything should work out.

·         Do not force your ideas, take a break if you need one, and be patient!


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