Start up your business: how do you find that “big idea?”

Written By Steps To Faculty Published May 28th, 2010

For any entrepreneur, finding an idea that he or she can sell to the public is arguably the most important thing anyone can do; if the idea is not solid, the venture will surely fail. Fortunately, there are a few steps that a person can take to come up with the idea that will work for you. One you have that figured out, your pathway to success becomes much easier.

Step 1 What are you good at?

Entrepreneurs who are successful at developing ideas are people who identify the things they do best and then find out if there is a need out there for their services; you cannot hope to meet the needs of your customers satisfactorily if you are offering a product you lack the skills to develop to the full. As a result, you have to identify what your talents are and how you plan on cultivating those talents even further.

Step 2 What price are you willing to pay for success?

Some ideas are harder to put into motion than others. For example, if you are a talented craftsman and looking to help people refurbish their homes, you need to ask yourself what sorts of tasks you are prepared to take on and what sorts of tasks you are not prepared to take on. If you are a single parent, offering some services – or even just an additional aspect of a service – can be too much to bear because of the time it takes away from being with your children. Likewise, if the idea you have in mind is one that will require a great deal of travel and physical exertion and you are not at a stage in your life where you want that sort of activity, then you are going to have to modify your idea to suit what you are willing to sacrifice for the good of the start-up.

Step 3 knowing what you want will help you know what other people want?

Finding the “big idea” for your prospective business does not have to involve going out and conducting costly market research. Instead, a good thing for all entrepreneurs to do is to ask themselves the following: what sorts of things do you wish were available to help you do a particular task faster? What sorts of services do you wish were available for people who lead your busy lifestyle? Maybe you have found that you wish there was a tool on the market that could get at those hard-to-reach places in the nooks and crannies of your basement; maybe you wish that there was someone around who could write up a template for a resume for a person who has been out of work for awhile. If you have talent in these areas or in other areas, then you have the beginnings of a start-up business.

At the end of it all, what you want in any “big idea” is for an idea that you can actually carry into practice and that you can actually find a market for; big ideas never come to any good if no one is interested in them. Follow these three simple steps and you will be amazed at the success you find.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.