How to Generate Business Ideas in 2019?

Seriously, crafting and immaculate Business is not a rocket science for anyone considering to think out of the box. Daily I get messages from friends like “Sir, I have 2 million rupees, please let me know what business should I do?” But, the question is what are the sources and methods of generating an executable business idea?

Here is the secret sauce:

The Sources of Generating Business Ideas:

The world is full of business opportunities. All you have to do is to open your eyes and ears to sense them.

You will find business behind every problem, every obstacle, and every challenge.

  • Loadshedding? Start a business of UPS and UPS maintenance.
  • Security Issues? Start a business of security services and equipment.
  • Floods? Start a business of tents etc.
  • Roads are hazardous and people want to avoid physical shopping? Start a business of couriers and home delivery.

How to Generate Business Ideas

The Process of Generating Business Ideas:

Businessman fills the gap profitably. So look left and right and see what is bothering people, what is making their life complicated and challenging. Find a solution and sell profitably.

So you don’t need to find the idea but, you need to find the problem. Following is the roadmap tp find masses of business ideas.

  1. Travel and meet different people and ask about the issues they are facing in their lives.
  2. Craft a pain-points journal enlisting all the problems.
  3. Pick the problem that appeals to your interest.
  4. Brainstorm on finding multiple solutions to the problem.
  5. Travel again and find the relevant people in the specific industry and discuss the legitimacy and feasibility of solutions.
  6. Conduct a thorough market research through online and offline platforms and filter out an option.
  7. Go to Step#4 unless a problem and a solution are shortlisted.

Example:

Two years back, I felt that majority of youngsters and professionals cannot write their convincing and compelling CVs. I tried to help them as a part of my CSR initiative. The number of people requesting me to improve their CVs started increasing and it literally became impossible for me to cater to their requests. I saw a gap and filled it by introducing our Guerrilla CV concept. Today, we have 6 content writers who work 30 days a month and 12 hours a day. We still carry a backlog of 10 days.

Being “always accessible and willing to help”, many people approach me for job hunting in Dubai. I introduce people to my contacts. But how many people can I help in this capacity? My team did thorough research on best job hunting practices. We compiled those tactics and started selling “Guerrilla Job Hunting Tactics for Dubai“.

Daily, I receive emails from students who want my help/advice to get admission in foreign universities. I am not sure but it seems our next service will be Foreign University Admission Advisory Services. Recently, I was contacted by foreign universities to help them sell their educational services in Pakistan.

If you have money and don’t have business ideas, look around and see problems and challenges people face and make their life comfortable with your services. That is the business.

PS: My major business is still Sales Trainings and Recruitment Consultancy.

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