One sign of a true entrepreneur is his/her willingness to sharewith othersbusiness insights they have gained with their blood, sweat, and wit. Brian Condenanza, entrepreneur, TEDx Speaker, and investor is one among them. In this article, he shares his 5 tips to help aspiring entrepreneurs identify powerful business ideas. Let’s hear him out.
Start with what you are good at.
When you start with something you are already good at, you don’t spend a lot of time learning it. However, here’s the thing. Don’t just say for instance that you are good with computers; identify what aspect of computers, hardware, or software you are aces with. This will help you know your core potential and put your finger on what might be missing and then, build your business around it. It will also give you additional confidence which will be a sign of reliability and help your customers develop faith in your expertise.
Look for opportunities in your area.
Entrepreneurship is a larger than life endeavor, not only because of the flashy lifestyle it has allowed some to have. It is so also because it has helped solve real problems. And to solve a real problem, you don’t have to set your eyes beyond your community. Once you start looking, you’ll be able to see the opportunities that are right in front of your eyes and zero-in on their potential as a businessprospect.
Try to answer a need of the hour
All problems are opportunities at their core. If you can find a problem that’s causing goosebumps on the skin of your community or humanity in general, so to speak, and identify an aspect of it that you can tackle, you have yourself an idea that will tick because it’ll offer something people require right away.
Keep an eye out for new trends
That has been the secret of my success if I can say so myself. I am pretty good at discovering new trends, and I can see the potential in new industries and sectors very fast. This has helped me be at the right place at the right time and find opportunities just waiting for me. This trick works best when you have the drive but not an idea. This kind of research requires time and what’s more, it gives you a stronger grasp of the industry and provides you with the type of grounding that comes in handy as you grow.
Identify the problem it helps solve
A business evolves from time to time and so does its proposition. One way of looking at your idea is not just the solution it provides but the problem it solves. It might seem like the same thing, but if you think about it, you will notice how they differ and how they can determine one course of action over another. Solutions can always be improved upon. Problems, on the other hand, stay on until completely uprooted. Once you can define the problem articulately, you can even use it as your advertising’s core message.
Brian’s tips can certainly lift off the pressure entrepreneurs might feel in taking the first step. And a steady first step is often the mark of many more to come.