Resources for idea generation

[Hyperion]

I have read a handful of books, online articles, etc. on the subject of starting a business. As far as I can tell, most sources help the beginner entrepreneur once they already have a business idea.

Are there any good sources for feasible small start up ideas, such as methods to discover unmet needs in the market, etc. The book "Blue Ocean Strategy" was good, but seemed to be aimed at the the big business audience, and was honestly more overwhelming and discouraging than anything. Thanks in advanced for your help.

 

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[MHP368]

Take the magic primer words from mj's book and create a boolean search format for google

So you'd want all the instances of "I hate it when..." On Twitter or to be able to search all over resdit for the phrase "its frustrating..." Etc


I think that would work but i'm not savvy enough to have figured it out

 

[itfactor]

Take the magic primer words from mj's book and create a boolean search format for google

So you'd want all the instances of "I hate it when..." On Twitter or to be able to search all over resdit for the phrase "its frustrating..." Etc


I think that would work but i'm not savvy enough to have figured it out

Type this into google:
For reddit:
site:reddit.com “I hate it when” | “It’s frustrating that” | “better way to”

Just replace reddit with twitter, or any other url (facebook, quora etc)

 

[astr0]

1. Problems you're facing yourself.
2. Needs you know exist from your experience in the industry.
3. Looking for existing markets and finding one with a room for improvement and competition. The world isn't perfect so that's an unlimited source of ideas.
4. Combining #2 and #3 by solving problems in one industry with an improved solution from another one.
5. Look for what people complain about and how to solve that.

If you haven't discovered one with #1 and #2, then #3 would be the easiest one. The best places would be an app store, supermarkets, yellow pages, etc. Depends on the market you interested in improving and where to look for existing solutions that solve proven problems in this market.

The more innovative the idea is the more it needs validation. Improving something is much easier.

 

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[Hyperion]

Thank you all for your answers so far.

 

[100k]

Scratch your own ich, solve your own painful problem.

Chances are there are others out there with the same problem.

Why not set up an agency that researches the internet/world for business opportunities and you call sell those "business ideas" to people for $100 a pop. Each coming with a detailed plan of action, research report and other relevant info someone would find useful.

 

[Hyperion]

Scratch your own ich, solve your own painful problem.

Chances are there are others out there with the same problem.

Why not set up an agency that researches the internet/world for business opportunities and you call sell those "business ideas" to people for $100 a pop. Each coming with a detailed plan of action, research report and other relevant info someone would find useful.

Haha, now you're thinking. My problem is that I can't figure out a good idea for a business. The solution: Create a solution that helps people figure out startup business ideas. Genius!

 

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[User62861]

Take the magic primer words from mj's book and create a boolean search format for google

So you'd want all the instances of "I hate it when..." On Twitter or to be able to search all over resdit for the phrase "its frustrating..." Etc


I think that would work but i'm not savvy enough to have figured it out

This is great! Thanks!

 

[100k]

Haha, now you're thinking. My problem is that I can't figure out a good idea for a business. The solution: Create a solution that helps people figure out startup business ideas. Genius!

Its doable. You're just lacking the knowledge, but if you do enough research and you connect with the right people, then you can figure out how to create a service like that.

There are research companies out there, how can you leverage their business model and improve on it?

Check out this guy's website;

https://nichehacks.com/survival-life-1-million/

NicheHacks - "The Wikipedia of Online Marketing..." -

NicheHacks helps every day people find their perfect online niche idea, build a website around it, and win back their freedom.

nichehacks.com

 

[Hyperion]

Its doable. You're just lacking the knowledge, but if you do enough research and you connect with the right people, then you can figure out how to create a service like that.

There are research companies out there, how can you leverage their business model and improve on it?

Check out this guy's website;

https://nichehacks.com/survival-life-1-million/

NicheHacks - "The Wikipedia of Online Marketing..." -

NicheHacks helps every day people find their perfect online niche idea, build a website around it, and win back their freedom.

nichehacks.com

Thanks a lot 100k. My previous post was sincere. I hope I didn't come off as being facetious. I definitely have to bend my mind to see things from a different perspective. It is a challenge to change from being a consumer to being a producer.

 

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[itfactor]

If it’s niches that you need (for bloggin or affliate marketing), you can hire a freelancer to do it for you cheaply. There are even automated tools that can churn out hundreds of untargeted niches.

Business ideas are more nuanced. It’s about finding gaps in current market offers to fill, or be a better version.

Unlike niches, it’s impossible to google your way to an answer without asking people what they want.

 

[Hyperion]

If it’s niches that you need (for bloggin or affliate marketing), you can hire a freelancer to do it for you cheaply.

Business ideas are a bit more nuanced. It’s about finding gaps in current market offers to fill, or be a better version.

Unlike niches, it’s impossible to google your way to an answer without asking people what they want.

Yeah, that makes sense. I'm not necessarily looking to build a business around blogging or affiliate marketing. Just looking in general. I just feel paralyzed in that I might end up wasting a lot of time, energy, and money doing something that just flops. I have a hard time committing to something that is subjective, and was hoping that there existed a systematic objective approach to determining market needs. If taking the approach of asking people, it seems like one would have to ask thousands of people the same questions, or somehow isolate certain needs from thousands of people in order to land on a feasible solution. Am I thinking about this correctly, or is it safe to assume that if 10 people have the same problem, there are thousands of people that also have that problem

It seems that coming up with a successful products and services to offer have subjective and objective components to them. I'm just trying to figure out how to minimize the subjective aspects.

 

[itfactor]

I believe the key to minimalizing the danger of over commiting is to have more than 1 business ideas in the pipeline.

When you see an opportunity in one of it, you can drop the rest (or sell them) and pump more funds into the one with highest potential.

As for market research, you should probably focus on helping the 10 guys first with your solution, get their feedback and then think about scaling.

Even if it doesn’t work out in the end, you get a better idea about testing your next business idea.

Hypothesize - test - analyze

Anyways, i’m sure there are folks way more qualified than me to answer this than me.

Yeah, that makes sense. I'm not necessarily looking to build a business around blogging or affiliate marketing. Just looking in general. I just feel paralyzed in that I might end up wasting a lot of time, energy, and money doing something that just flops. I have a hard time committing to something that is subjective, and was hoping that there existed a systematic objective approach to determining market needs. If taking the approach of asking people, it seems like one would have to ask thousands of people the same questions, or somehow isolate certain needs from thousands of people in order to land on a feasible solution. Am I thinking about this correctly, or is it safe to assume that if 10 people have the same problem, there are thousands of people that also have that problem

It seems that coming up with a successful products and services to offer have subjective and objective components to them. I'm just trying to figure out how to minimize the subjective aspects.

 

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[astr0]

For services it's really easy - just find a client.

A quote from Andy's signature:
“Never worry about numbers. Help one person at a time, and always start with the person nearest you.” (Mother Theresa)

For products, it depends.

As @itfactor wrote:
Get at some prospects interested in the product.
Get it to the market asap.
Hypothesize - test - analyze to improve it.

 

[FierceRacoon]

I've had a couple failed startups. Now I understand In other words, take any idea and go ahead with it. You will learn everything else whether the idea is good or not, things like
- finding partners
- dividing equity
- creating a website
- setting up an LLC
- where to find users or B2B users
- if your time is best spent networking or sitting in the room
etc.

If anything, this will make you a MUCH more valuable employee, as it did for me.

I've also had a successful startup exit (I was a key employee). I think the idea was terrible, and it was changed mid-way. It was still terrible, and violated just about every rule. It was still enough for a (small) exit, because everything else was done well, the team was good, and the founders kept trying to sell the company even after everybody else gave up, and eventually it happened.

 

[Hyperion]

I've had a couple failed startups. Now I understand In other words, take any idea and go ahead with it. You will learn everything else whether the idea is good or not, things like
- finding partners
- dividing equity
- creating a website
- setting up an LLC
- where to find users or B2B users
- if your time is best spent networking or sitting in the room
etc.

If anything, this will make you a MUCH more valuable employee, as it did for me.

I've also had a successful startup exit (I was a key employee). I think the idea was terrible, and it was changed mid-way. It was still terrible, and violated just about every rule. It was still enough for a (small) exit, because everything else was done well, the team was good, and the founders kept trying to sell the company even after everybody else gave up, and eventually it happened.

Thanks for the insight!

 

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[Hyperion]

Its doable. You're just lacking the knowledge, but if you do enough research and you connect with the right people, then you can figure out how to create a service like that.

There are research companies out there, how can you leverage their business model and improve on it?

Check out this guy's website;

https://nichehacks.com/survival-life-1-million/

NicheHacks - "The Wikipedia of Online Marketing..." -

NicheHacks helps every day people find their perfect online niche idea, build a website around it, and win back their freedom.

nichehacks.com

Are you referring to the nichhacks website as an example of a "research website" that could be value skewed or as a guide to actually follow (i.e. actually work through the information, create blogs or websites, etc.)? Thanks by the way.

 

[Deleted50669]

Scratch your own ich, solve your own painful problem.

Chances are there are others out there with the same problem.

Why not set up an agency that researches the internet/world for business opportunities and you call sell those "business ideas" to people for $100 a pop. Each coming with a detailed plan of action, research report and other relevant info someone would find useful.

I have an app about to be released that automate this

 

[100ToOne]

If you can, try finding a problem in your daily job. I mean look at MJ how he got his limo idea...from driving a taxi.

 

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[100k]

Are you referring to the nichhacks website as an example of a "research website" that could be value skewed or as a guide to actually follow (i.e. actually work through the information, create blogs or websites, etc.)? Thanks by the way.

Pivot from them. Change their business model. What if instead of a blog, you turned it into a subscription service and provided people with hot niches they could jump into and make $$$. Or some other business model.

View: https://www.youtube.com/watch?v=gB-YwlBrVVs

View: https://www.youtube.com/watch?v=Pok_7ZMAQd8

View: https://www.youtube.com/watch?v=RQjBawcU_qg