Friday 11 May 2012

How to generate Business Ideas?

Enthusiasm has no limits when it comes to talk about ideas. Oftentimes, you bump across the guy who says to you “Listen, I have an idea”. Depending on the circumstances you are in generating ideas can be quick or time consuming. During an emergency everybody starts thinking and an excellent workable idea pops out. But in the case of family, business, educational pursuits, sports, military ventures and political manoeuvring, creating the right idea is time consuming. There are seven ways in which you can generate successful ideas that work in most of the fields. As a business adviser I give pride of place to generating business ideas:

1. Reflective Thinking: This is the fountain that springs most successful ideas in business, technology and activities that border on the profit motive. In reflective thinking you regurgitate like a cow in the gate, of what you have learned, what you have heard and what you have felt. You marshal these facts of wisdom; re-visit these and make connections between you and the facts gathered. Thereafter, you examine the facts, correct the errors tie the loose-ends and embark on the journey of re-learning. You fuse many limbs of the idea into a cohesive whole and arrive at a business idea that has the potential to be turned into a practical and successful one

2. Studied imagination: I rate this process as the second most important way to generate good business ideas. In this process you enmesh both subjectivity and objective analysis. What you have studied in college, business and family relationship is your objective part which you will weld with imagination that flies out to realm of un-fathomed areas. Icarus saw how birds fly and fitted him with wings made of wax he soared over the sky. For his bad time he came close to the Sun which resulted in the melting of the wings. Consequently, he started to fall. You are not going to repeat this. Instead, you will steer your imagination backed by your objective facts could easily land in a workable business idea

3. Bright Sparks: Unlike studied imagination bright sparks give you an idea all of a sudden. It may be related to the circumstance you are in or something un-related but connected to your circumstance. Archimedes found his theory of floating body after immersing in the water tub. His theory ran thus: any object, wholly or partially immersed in a fluid, is buoyed up by a force equal to the weight of the fluid displaced by the object. This theory has worked wonders in business applications

4. Observing Nature: Newton found his theory of gravity after observing the fall of apple from the tree. Natural phenomenon has objective lessons for you. Scriptures talk about this as a measure of reward or punishment from the God. Naturalists think otherwise. They opine that these phenomena are result of cause and effect which were later tested in science and arts. By observing nature, business persons have fashioned ventures from food to outer space-physics

5. Your Experience: As you agree with me, experience is a better teacher. Your track experience in a chosen career can give you plenty of ideas whose success rate is much higher than the ones your green horn colleague boasts about. A seasoned person with plenty of experience and insight generates quick and workable ideas than MBA graduates because he prefers to err on the side of caution rather than jump head along into a hole of fire

6. Brainstorming: It is not necessary that you should do a brainstorm session in a class room setting to get brilliant ideas. When you meet up with friends, colleagues and family members make it a point to talk about new idea for a business. Allow them to speak their heart out. Never interrupt. Garner points and trends. Now you do your own calculus picking one point here one trend there and bring together to get a raw idea. After refinement and faceting you will end up having a remarkable one. Call it gold mine

7. Recycling Ideas: For want of better expression, I am using the phrase recycling ideas. in fact you are borrowing it lock, stock and barrel. Lest you are accused of plagiarism or indicted for copyright violations you calibrate the idea; tweaking and tinkering. The result can be anything: Improvement, Adaptation or Re-make. Sadly, 90 % of the ideas that float in the market are just re-cycling stuff.

Muthu Ashraff

Business Adviser

Mobile : +94 777 265677

E-mail : cosmicgems@gmail.com

Web : http://www.cosmicgemslanka.com

Blog : http://cosmicgemslanka.com/blog/

 

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