Lessons from history and the business escapades always echo the same old truth: extra-ordinary businesses are born from very ordinary situations and mostly either out of a mistake or an irritating need (problem) that one seeks to overcome and ends up creating value for many others sharing in his/her situation.
The message for those seeking business ideas is perhaps not to look further than your nose, your challenges, needs and problems from the environment that you can solve for others and yourself. A classic example is that of a student having social needs and perhaps needing to associate better in a virtual way and ended up stumbling on the now billion dollar business that has transcended its initial thought of merely socializing but has made many businesses and people in both his shoes and even better in socializing to capitalize on the opportunity, creating value for each of us who are now clearly addicts of the Social Network in both positive and negative ways. An idea that has come to define social-media lately…Need I explain further? Of course not! J
The next time you want to start developing a business, seek for the problems you are facing and those that other people are facing as a start point and see how you can create solutions for them. Are you far away from an internet café? Find out how many more need them and create value for them. Are you complaining of a pathetic service from current service providers? Find out how you can improve their idea and better serve other people in your shoes while still being able to coup profits out of the venture. Have you realized a sudden students, workmates or community problem? Make a list of possible solutions and try to develop something that will give a solution.
Remember, to list out the problems, challenges and needs unmet by the market and try to make a list of solutions and start to engage those with whom you think a solution would be handy. Who knows, one of the ideas may be the next big invention the world would ever come to see.
Wish you well in the manhunt as you strive towards entrepreneurship and value creation for society.
Thanks for reading and feel free for us to share the ideas you have about business and entrepreneurship, so that together we can breed posterity by nurturing each of our business potential and skills