3 top tips on how to generate a winning startup idea.
Get hold of a notebook and start with writing down all your ideas. Think about all those things you are truly passionate about and find a way to turning your passions and skill set into a profitable business. In addition the following tools should help you during the idea generation process:
Ideas are worthless if there isn’t a market for your product or service. Your idea must serve a purpose, therefore begin with a thorough market research to ensure that someone else isn’t already offering your invention. Make sure that there is a demand for your product or service. Talk to everyone you can think of about your idea and collect feedback! You may even consider seeking startup mentoring advice. A business expert can give you an honest opinion on your business concept. This should provide you with valuable guidance.
Once you have identified your market, carry out a vast market and web search about the latest trends and new startups in your field, both in your country and abroad. Research the market place and see what your ‘competitors’ are doing. Note down ALL ideas and best practice that you come across. All of those ideas and bad practice will be extremely helpful when it will come the time to turning your idea into a real business!
Ready, get set, go!