Coming up with new business ideas

[S.Y.]

How do you guys come up with new business ideas?
Something original. Not looking for usual e-commerce like drop-shipping , or Amazon fba.
Currently feel like i'm stuck in a limbo , not knowing what business to start , or what to do in my free-time other than reading, therefore i'm just saving up money and investing into Cryptocurrencies . That is making me a decent amount of money, but not enough to quit my 9-5.
What would you guys do in a situation like that ?

Buy/borrow a copy of "Robot is the Boss: How to do Business with Artificial Intelligence" by Artur Kiulian.

Chap 3 (Which areas will be affected the most?) is a goldmine of ideas. Agriculture, Automotive, Education, Manufacturing.

If AI is not an area you want to provide value in, just pick something and start. Look for niches, and look for pain points or needs.

Not discounting any idea and exercising your ability to spot opportunities will help tremendously. James Altucher said "Perfectionism is the enemy of the idea muscle...it's your brain trying to protect you from harm, from coming up with an idea that is embarrassing and stupid and could cause you to suffer pain. The way you shut this off is by forcing the brain to come up with bad ideas".

He is spot on. Replace perfectionism with "being original" or "looking for the sexy idea" and it remains true.

 

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[S.Y.]

This is a good thread. I’ve been trying to come up with a business idea that I can stick with, but it’s been tough. I keep coming back to the realization that I’m extremely average at a lot of things and that it seems hard to imagine being able to offer substantial value in anything.


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Check @SinisterLex post (#6) in his Product And Service Ideas For An Aging Population thread. I think it would be a good starting point.

 

[Bugs Bunny]

I am glad that I found Outcome Driven Innovation process developed by Tony Ulwick. I have started to practice the concepts. Here is my first project based on ODI process Practicing Jobs to Be Done. I have always wondered how people found unmet customer needs. Going from ideas to products has a success rate of 9% whereas finding the unmet need first then devising a product to fulfill that need has a success rate of 86%. I am glad that I found his material. Here are three videos from the Business of Software conference: Jobs to Be Done Playlist. Enjoy!

 

[DavidJLeys]

I've never been much of an entrepreneur at all. That is why I am here, to read, to learn, and maybe even act. As many others have mentioned, finding a business idea is a simple as finding a problem. Just by reading this thread, I see a problem. People struggle with finding business ideas. Now if a solution can be created to address this in a meaningful way...voila!

 

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