Do you wonder how you can get Ideas for Startup? You
also want to know which of those ideas will work.
"Business opportunities are like buses, there's always another one coming."-Richard Branson
How do you know your idea is right? Most people search for solutions to their problems, be it a product or service. The idea should solve a pain / problem for your customers. The severe the burning pain, the greater the chances are of your idea succeeding.
Necessity is the mother of all inventions. Light bulb moments can arise out of the following
1. Critical Needs.
2. Time Saving
3. Improvement in quality of life
4. Reduction in expenses
The customers are dissatisfied with the existing product which is critical for them.
Image Courtesy: SweetCrisis
The options available were
i) Mosquito net
ii) Repellant Cream
iv Electric mats
Each one of the above product solved the problem. Each alternative had a disadvantage which led to the development of the next alternative. The customers had to choose between any one of the above. Each had its own drawbacks.
When the vaporizer was launched, it became an instant hit for;
i) It gave a good night’s sleep.
ii) Eliminated the problem of replacing the mats everyday.
iii) Disposal of mats was not an issue any more.
Convenience-TV Remote - Image Courtesy-ambro
If your idea does not solve a problem of the customer you will not be using your time productively.
Can we survive now without a TV remote, with a plethora of channels to surf?
Remote has become a necessity and sometimes it turns to a critical need.
Ubiquitous Remote control:
With a plethora of electronic equipments a single remote for all products is now available.
Low Cost solution
A student of mine narrated a story. As a student she was confronted with lice problem. She could not afford costly shampoos. She boiled curry leaves in coconut oil and used it for a week. The lice disappeared. She shared this with her friends in the hostel and they too had the same problem.. This gave her idea and she started selling the oil to her friends. She started earning money.
Shoe Cleaning Laundry:
A fire engineering graduate who wanted to clean his sports shoes, developed a ten step process to clean the shoes. The shoes looked as good as new.His friends admired the cleaned shoes. They asked him whether he could do the same for their shoes.
He started cleaning their shoes and charged them.A true entrepreneur. Earlier, he was working in a software company and earning quite well.
Once the business took off, he quit his job.At present he has branches across the metro.
Nuggets- Ideas for Startup
1. Ideas can come from our everyday life.
2. You too can become an entrepreneur with a solution to a problem you found.
3. The business can be started with low investment.