3 How To Small Business Ideas Brainstorming

(doylc.com) How To Small Business Ideas Brainstorming - Creative and entrepreneurial ideas for small businesses often emerge after a series of brainstorming sessions. Brainstorming can be an effective way to think without limitations or restraint. It works well when multiple people do it together because it allows you to swap ideas back and forth and encourage comments and reflection. Large companies and corporations often hire expensive consultants to brainstorm and develop their ideas. Small businesses may not have the same budgets but can still tap into the creativity of their leaders. Brainstorm small business ideas by bringing together smart and creative people to share thoughts on.

• Setting up your brainstorming session

Define the goal of your brainstorming session. You need to know what you hope to get from the brainstorm. Whether you want to clarify a business model, develop a business idea or product, or find a solution to a customer need, you need to be absolutely clear about the purpose of your conversations. What do you want in the end? A finished business plan? A product design? Write this goal down and place it prominently in your brainstorming area to keep you and your team on track.

Think of a starting point. Regardless of whether you already have a concrete business idea or not, you need a starting point from which your further brainstorming ideas can flow. Small business ideas usually start out as something the founder notices, like some sort of unmet need in his or her community, or an idea that they need to improve a process. These can be sudden insights or the result of little things noticed through years of working in a particular industry or profession. Whatever idea you have that made you want to bring people together and dream up a small business, define it and then go from there.

It's also important to clearly and concisely define the starting point or impetus for the brainstorming session so everyone is focused on the same input and outcome.

The most successful companies started with a combination of a recognized market need and new technology. For example, Google has combined people's need to easily find things online with its proprietary search technology. A good starting point could be one or both of these two parts.

Decide what you want from your business idea. Your starting point doesn't necessarily have to be a solid business or product idea. Instead, it can be a goal, like making money, creating a unique product, or gaining market share. This is more difficult in the beginning as you have no guidance as to what exactly your future business will or will do. However, this also opens up limitless possibilities. And even if you have a solid idea, determining what you want out of your business can help you with long-term planning.

Brainstorm with a group of people. Don't invite people who think the same way as you do. Successful brainstorming comes from different opinions and perspectives. Allow these people to share their own points of view, problems and experiences. For example, you could brainstorm with small business experts, or set up a meeting with a mentor or leader you respect and admire.

Suggest your ideas to the experts and look forward to any feedback. Be prepared to hear positive comments and negative criticism.

Thank you to all who helped. Few people brainstorm alone, so be sure to say thank you to the team that brainstormed with you. Time is a precious resource, and people will appreciate it if you acknowledge their help and insight.

Set up your brainstorming location. Your brainstorming location is almost as important as the team you choose. Be sure to choose a relatively quiet location, free from outside distractions or noise. Then remove all electronic devices from the room, except for computers used for research. Provides team members with individual notepads to jot down ideas. Have a whiteboard, chalkboard, or large pad in a central location to track everyone's ideas.

Consider playing music to encourage creative thinking. Try using classical music without words.

Provide drinks like water or coffee to keep your team hydrated and focused.

It can help your team move away from the area where you usually meet, e.g. B. to a retreat or just outside in a park. Changing your surroundings can help you see new perspectives and change your thought patterns.

• Develop ideas

Research relevant topics. Read articles, search the web, and watch videos on topics relevant to your business ideas. The more information you have, the better decisions you can make. You should also look at any previous attempts you or anyone else have made to solve the problem you are addressing or to repair the product you are focusing on. What did they do right? Where did your attempt go wrong? Bringing this kind of context to your discussions allows you to form your own ideas.

Find out about the industry you want to enter. Check out the organisation, key players and relevant government regulations.

You can also contact your business connections working in this industry to get their opinion on specific aspects of the market.

Think independently. Have your group members brainstorm the idea one by one, then collect their notes in a Google Doc or Dropbox folder. Then have everyone individually review everyone else's ideas and come up with new ideas. Finally, get together as a group and share these new ideas. This is how you start with a broader basis of ideas.

Question market assumptions. Many successful startups are disruptive in that they bring something completely new to the market that will eventually change how that market works. Think of Uber or Airbnb, which have perfected new solutions to common problems. These were solutions that no one was sure would work in practice and went against the current status quo of their respective markets.

First, try to break down a consumer need or imperfect product to its essence. What service is provided? Ignore current solutions to think of new ways to solve the problem.

Address current beliefs about this product or service directly by writing them down. Then think of ways to circumvent or replace those assumptions.

Some successful new companies simply change the dominant business model of their industry and do not necessarily change the product offering or need to be addressed. Don't focus so much on your offering that you forget the potential benefits of a better business model.

Respect all suggestions and ideas. Brainstorming cannot work if there are limits to the creative process. Treat each idea of ​​each member of the brainstorm idea the same way, evolving it and asking questions until it's either deemed impractical or makes the "good idea" list. Agree to consider any ideas, no matter how impossible they seem.

In fact, coming up with terrible ideas can be beneficial to your creative process. Try to find the worst ideas you can think of (illegal, impractical, or expensive ideas).

Then try to change those ideas to make them better ideas. This process can help you look at your problem in a new way.

Ask questions. Brainstorming requires you to ask specific and general questions about every aspect of every idea. Try asking questions that force your team to consider alternatives, reconsider assumptions, or continue with the current train of thought. Leave your questions open and give your team members enough time to think and answer.

Document your brainstorming session. Assign a group member to be the secretary or scribe for the meeting. Have them record everything that was discussed, ideas you want to move on with, and your progress or end point. This way you can pick up where you left off on your next session.

Repeat your brainstorming session. You're unlikely to get your million dollar idea on the first try. Be persistent and meet regularly with your brainstorming group or with other groups to develop new ways of thinking. Your idea may come to you in a later session or at a totally unexpected time. Just make sure to save your notes from previous sessions so you don't lose any progress.

Be sure to evaluate your process. When you've finished brainstorming, take some time to jot down what worked and didn't work well when developing small business ideas. This will help you in future brainstorming and strategy sessions.

• Focus your idea

Rate your ideas. The best ideas are useless if you don't see a way to develop them into a fully functioning business. If you brainstormed several of these, rate your ideas using the following criteria:

Are you the right person to build on this idea? Do you have the experience or technical know-how to solve this problem better than your competitors?

Will customers want this product or service? A product can be useful in theory, but not enough to actually make customers pay for it.

Does this idea solve a customer problem? Does it do it effectively and efficiently?

Is the market ready? Consider your potential competitors and the barriers to entry they may pose. Also think about whether there are enough potential customers to keep your business afloat.

Look at your operations. Can you set up a business structure to build or provide this product or service? And more importantly, can you raise the capital required for development and construction?

Define all the factors and details that need to be considered. Be prepared for the challenges and opportunities that come with the small business ideas you develop. For example, think of the following:

The money you need to get started. Consider how much capital is required to start your small business. Talk about the best ways to raise that money, whether it's through loans or investors.

The logistical factors involved. List the operational aspects of your small business that need attention, including staff, inventory, physical space for the business, and marketing costs.

your timeline. Find out how much time it will take to start the small business and make it a success.

Your long-term plan. Find out what needs to be done first, and then the next steps.

Choose the best idea. The best idea can be selected based on a few important criteria. First estimate the costs. Can you raise the money to pursue this idea? Then consider your company's ability to develop that product or service. Do you have the required expertise, skills and capacity? Finally, look for a competitive advantage in your ideas. Can you implement this idea faster, better or cheaper than your competitors? You should only pursue an idea if it meets these criteria.

Create a business plan. When you've finished brainstorming and have a vision for your small business, write it down. This is an abbreviated business plan that is simply a framework for your business with as much information as you currently have, not a complete business plan. Start with a one-sentence description of your idea. What are you doing and what impact will this product or service have? Then write a brief description of that product or service, using the information you have so far.

Write down what you know about your business organisation, e.g. B. Your management structure, distribution model and pricing plan.

Determine what it might cost to develop and manufacture your product or prepare to deliver your service. Include any potential start-up costs.

Then add everything you know about the market, from competitors and market share to trends and potential customers.

Getting started. You can only find out if your business plan works by trying it out. Start looking around at your peers and connections to form a team to bring your idea to fruition. Start networking with people in the industry you want to enter. Find ways to finance your business. Most importantly, continually refine your idea or product until it's good enough to bring to market.