If you are trying to start a business but not able to get the idea that makes your startup, then this blog will help you to get the spark.
Your cup of tea:
First of all, you have to find your ground to play. Analyze your area of expertise. Everyone is best at something. When people say “Startup”, everyone things that it has to do something with tech and the person should be an expert in an industry. That’s not true tech is a type of startup there are other types too. Just find your talent and start investing time in it.
Find the pain points
Now you know your ground but don’t know where to start? Here is a tip, think about your day today life. Write down your pain points (which you think that “it could have been better”). Remember Redbus? The founder missed a bus which lead to the leading bus booking platform in India. Once you have the problems listed out, now think how can make this better?
Example of pain points of people in Bangalore is getting back their balance money from conductors in BMTC buses. If you can think of something (Service, App or Device) which will help people that could be a startup idea.
Keep it simple.
As I said in the above point most of the successful startup ideas has always been simple. Leave out the complicated ideas which has to do something with rocket science, etc. and start thinking simple. To get a better idea on this watch a TED video by Navi Radjou, in which he explains about an Invention in India. Also watch Shubhendu Sharma’s how to grow a forest in your backyard. Both of the ideas are simple yet makes a huge difference.
Explore other startups
The other main source for your idea is other startups. You may get an inspiration from others ideas. There are startups which depends upon other startups products. Learn from them or fill out the missing points in their product might give you a better product idea.
Do your research
One of the most important things is doing your research before getting down and spending some money on them. There was an online video sharing platform startup unlike YouTube this platform allows you to share videos based on location. For example, say there is a festival going on in Bangalore a person takes a video of it and shares it. People can just search for the location and find videos related to that locations.
The startup team was excited to have this idea and started working on it. Spent time and money, at the end people were not excited when this startup released its product. People seems to be not using the product. The team didn’t get what was wrong.
When they were trying to figure it out. They found out that people didn’t needed that and they were doing good without it. So always it is best to find out what your customers/target market really want before spending some time on it.
Example: with reference to the above pain point of getting balance from buses. If a startup introduces an iPhone app, it won’t work out as most of the iPhone users belong of luxury side of population who don’t care about balances or don’t travel in buses. Also India is an android country.
Give it all you got
Last but not the least this point holds most of the important place in creating a startup idea. That is giving your best in this process. This is why you have to work on platform you know or you are in interested in. Without these you won’t be able to get the million dollar making idea.
Hope this will help many upcoming entrepreneurs. All the best for your startup.
I am Manoj Mahendran who will be an entrepreneur soon, currently serving Market research industry. To add to that, I am an amateur photographer, blogger and a travel enthusiast. Click here to read more of my work