Top 3 Ways You Can Generate Ideas for a New Business

Top 3 Ways You Can Generate Ideas for a New Business

1. Establish a business that develops on your inherent ability.

Talented abilities allow you to do things quickly. Sometimes, I hear people ask, “what do you have a flair for?” The ability to use your talents helps you accomplish things more quickly, efficiently, and more naturally than other people. It lets you accomplish things with ease!

When I was in my early twenties, I knew that I would succeed as a writer! I was convincing enough that mom would refer to me as “owe-Cowra.” I never got bored of writing. Not completely junks, though. However, I enjoyed it! I was a fan of writing good convincing copy, which is why I discovered the joy of advertising copywriting.

One of the best things about your inherent talent is that it can push you and not in the opposite direction—all the best to all of my Afripreneur readers of this article. I write effortlessly and am rewarded with a lot of compliments for my writing. No wonder Peak has come up with an enticing tagline, “it’s in you!”

Are you looking for new business ideas? You’re already there!

This is your task!

From my experience so far, Consider ten business ideas I might start and put into consideration my inherent abilities. This question could help you and your fellow entrepreneurs a lot of good!

2. Transform Your Knowledge or Experience into a profitable business.

Instead of asking, “Which business can I start that will bring quick profit? ” Make your knowledge or experience into a profitable business!

Entrepreneurs are those who can make the most of their thoughts, experience as well as knowledge, and skills and generate good money.

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What are you familiar with? What skills have you learned recently? What training did you acquire? What skills have you accumulated? Are you aware that there are others who want to receive the same experience you’ve got?

In my seminars, I remind the audience that there’s money hanging in the air, plenty of it! Provide a specific type of business that people want, and cash will be flowing. This is known as service! Service and money are the same!

Why would you spend 15 good years with an airline company, and you still claim that you don’t have business plans? If you don’t have the money to buy a commercial plane, then why not start an agency? In my experience, there are much ancillary business within the Airline/Hospitality Industry – executive car hire is just one.

Are you interested in knowing the reasons you’re likely to be successful when you begin a new business by utilizing your previous experiences? You’ve worked as the Store Keeper and the Production Supervisor. The Accountant and Brand Executive the Marketing Officer, you were everywhere! You knew what was happening, when you were there, where, and how to communicate to whom. You’re in a position over your competition to accomplish it better.

Don’t look for business ideas everywhere. Look within yourself.

My friend. Do you know anything? You could have a bit of experience or knowledge that you’ve had or in some way. The answer might be a seed just waiting to grow. Gather with your members of your family or friends to think about it. In the end, this will provide you with a range of possibilities to choose from. Do an analysis of the three options you have to find out which is the best choice.

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3. Take Advantage of Technology, Situations & Opportunities.

Have you heard of the story of two individuals who traveled to a nation where people in the country wore no shoes? One of them discovered a chance in this circumstance, and he went back home to his homeland and ordered a large shipment of various sizes of shoes and then shipped shoes to a country where the inhabitants did not wear shoes. He made more sales than he had bargained for! This is a typical instance of profiting from circumstances.

There are many situations in which you should be focusing your eyes upon!

The 21st century’s business environment has seen the business world shift from manual-based to tech-based. If you’re tech-savvy, you might want to consider starting your own business that is focused on helping companies transform their marketing and operations. Learning about short courses in information technology or training might aid in the process.

In Nigeria, the present, for instance, we can see that the Central Bank was implementing the cashless policy. It is an excellent opportunity that you could want to cash in on through a variety of Mobile Money operators and dealers all over the world. There are many rules of this type that create direct business opportunities. Make the most of these.

In the process of generating business ideas, you should be conscious and aware of your surroundings. Keep your eyes open. Be aware that everything and anything can be done.

Entrepreneurs are opportunists! They are able to profit from opportunities. While other people complain about a situation, business owners celebrate it. It’s time to stop being an in-chair critic and go further and overcome challenges.

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Are you in need of some business ideas? You probably know how to go about it!

Ayokunle is a husband and father, a self-starter Nigerian serial entrepreneur, and a small-business advisor.

With a fresh and sharp personality, I’m open to fresh ideas and new ventures.

Presently, I am a board member for many startups and emerging businesses which includes Company Formation and Investment Management, Real Estate, Internet Service Provisioning, and Technology Solutions, as well as Fashion Retailing.