Think beyond necessity for the idea that gets marketplace traction (Smart Business Magazine)
Being a serial entrepreneur, my mind is constantly searching for the next best idea.
I am consistently pushing the envelope on design and innovation, and much of my work centers on the idea of creating novel products and household brands.
While my concentration lies in a variety of industries including fashion, tech, nano-science, entertainment, marketing and design, my newest project, Rogue Eyewear, uses experimental materials combined with bold designs for a new perspective in a stagnant industry.
Here are some tips I have found useful in finding new ideas.
If one is seeking to develop a product or offer a service, it’s always important to research the market. Without the proper knowledge, understanding of the market or background, it can be tough to get an idea off the ground. It’s best to thoroughly devour anything and everything you can to bring your business to life.
Always seek to make a problem easier to solve
A different approach is not to seek the idea, but to locate the problem. Paul Graham once said, “By far the most common mistake startups make is to solve problems no one has.” And it’s true. Some of the greatest inventions, best business ventures and disruptive ideas stem from solving a problem with which customers or ourselves are dealing. By learning what problems people have, you can begin to formulate solutions.
If you are having trouble fine-tuning your project, seek help from others. Any good idea always needs to be supplemented with the right business plan, marketing campaigns and so on. While you may have your idea, it’s always best to allow it to flourish by getting feedback from mentors and friends who are better suited in various aspects where you may not be.
Think beyond necessity
A great way to uncover or broaden your idea is to always think beyond necessity. One of my own personal beliefs is that if you think in the “here-and-now,” you may not be thinking about how you can grow your company in the long run. If you are able to envision your direction five to 10 years ahead, you not only are thinking beyond its current stage but you can also plan for it. That’s equally as important as the idea itself.
The idea book
Not all of the ideas I generate are good. So in order for me to filter between the good ones and the bad ones, I write about each one in an idea book. Write as much as possible until you cannot write any more on the subject. The trick is to not look at it for at least two to three weeks. Do not discuss it with friends. Try to allow this break to happen so you can come back to it and see if it’s a strong enough idea. This allows you to look at it in a new perspective, and lets you see it without the rose-colored glasses you were wearing when you started writing.
This “filtration system” is a method I’ve been using for many years as every day is a new idea.