The hardest part about beginning a startup company is coming up with an idea that not only fills an important void, but that no one else has already come upRead More
The post 3 Super Solid Ways to Create New Business Ideas appeared first on The Entrepreneurs Library.
]]>The hardest part about beginning a startup company is coming up with an idea that not only fills an important void, but that no one else has already come up with. It is exceedingly likely that the first idea you come up with will not be a success. As such, it is imperative to not let yourself become discouraged by initial disappointments and to keep on pushing.
These popular techniques will go a long way towards helping you create new business ideas:
The entrepreneur who successfully creates a new business and can withstand the test of time is the one who is able to peer into their crystal ball and predict the trends of the future. While this process does require just a smidgen of good luck, a great entrepreneur knows that luck is merely the residue of skill and hard work. Luck does not come to those who park themselves on the couch and wait for it to come along, it happens to those who get up, get out there and work for it.
A top notch idea for a business is one that is ahead of the curve and anticipates changes in the landscape. The person who is monitoring current trends instead of future trends is going to come up with ideas that are instantly outdated. A decent entrepreneur looks at what is going on now and thinks of a way to fit in with the current landscape.
On the other hand, a great entrepreneur thinks about the future and wonders how they can create the next big thing, rather than an inferior knockoff version of the current big thing. Monitoring the current trends in the business world can provide some help when it comes to developing new ideas, but you have to consider the amount of time it takes to start a new business.
An idea that seems fresh in the moment is often past its sell by date when you are finally able to get down to brass tacks and start the process of opening a business. Consider the future and what place your product will hold in that future.
I am willing to bet that there are many things in your everyday life that drive you crazy. One of my personal favorite ways to create new business ideas is by taking the time to consider the things about life that annoy you the most. If you hone in on the things that “piss you off,” you will be able to brainstorm real solutions to everyday problems. If you are are the type of person that feels like you have to “do things on your own,” this task brainstorming technique will come naturally to you. As I’ve come to learn from many authors on innovation, the best entrepreneurs are those who find out about what we lack most and discover a new way to provide the public with the needed item.
Invention is not a must in these scenarios, but it can help you to develop new ideas. Brainstorming about products that every human being would want, but have yet to be created is a great way to amplify the creative process and ensure that you remain ahead of the curve at all times.
Speak to people you know, as well. There are many instances where the things that annoy you and frustrate you will also annoy and frustrate them. Canvasing close friends and family can also provide you with important information about frustrations that they are having that you had failed to consider.
Consult with members of the opposite sex and ask them about their daily frustrations. A company that is able to consider a variety of concerns from various walks of life is one that will prosper in the long term. Having a narrow focus leads to a lack of creativity and should be avoided.
Most people prefer to avoid frustrating moments at all costs, but those who can train their mind to look deeper can find valuable business ideas that no one else has considered.
Just because you cannot create new business idea does not mean that you should give up on your entrepreneurial dreams. Some of the best and brightest entrepreneurs are those who analyzed the current marketplace, discovered inefficiencies that could easily be corrected and decided to do something about it.
This strategy is helpful for entrepreneurs who are struggling to come up with ideas of their own. Perhaps you are someone who enjoys a certain product, but finds it to be overpriced. This is your opportunity to research the product you enjoy and see if any changes can be made during any part of the process that can have a positive effect on the pricing structure.
Or, maybe you can take a closer look at what the major players in your desired niche are doing wrong. A company does not have to be the same size as the big boys to successfully compete with them. The playing field has never been more level and a person can learn a lot from what the major business in their field are doing wrong.
There are typically enough gaps in the industry that you seek to join that can be easily exploited. Perhaps there is a service that a major company should be offering that they have not thought of. By using this as your starting point, you can start a business that already has built in clientele.
Some larger businesses are no longer in the business of innovation, they are more focused on maintaining their current piece of the pie. If so, this also provides an opportunity to come up with an idea that takes a product that is already available to the next level.
The Dream Cafe by Geoff Crook
Seeing What Others Don’t by Gary Klein
The Myths of Creativity by David Burkus
One Simple Idea by Stephen Key
A More Beautiful Question by Warren Berger
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]]>Gift shopping isn’t easy; you have to think of something unique and yet something that will be useful too. And when it comes to gifting to entrepreneurs, the problem justRead More
The post 10 Last Minute Holiday Gifts To Buy An Entrepreneur appeared first on The Entrepreneurs Library.
]]>Gift shopping isn’t easy; you have to think of something unique and yet something that will be useful too. And when it comes to gifting to entrepreneurs, the problem just doubles. What do you give someone who stays busy all the time? What do you give them that matters the most?
Well, it can be a real head-scratcher! But here’s a little help. Here are some of the top last-minute holiday gifts that suits every entrepreneur, be it a new one just setting up their venture or someone who has been there, done that!
What could be a better gift than a subscription that helps with the business? Online backup from Carbonite, office supplies from Office Depot or a subscription to LivePlan – every one of these ideas will be well-loved.
The ChargeAll portable power outlet will never let you down; be it your laptop, Smartphone or your stereo, this little portable power pack is exactly what any entrepreneur needs to stay on the go. A Coffee Cup Power Inverter is another good choice.
Is it coffee that makes your entrepreneur friend going? Well, a subscription to Philz Coffee (Mark Zuckerberg recommends it) or a gift card from Starbucks may be the ideal thing to give them this holiday.
One gift that every fitness freak will love is the FitBit Aria! Just get on the scale, and it will send the details such as weight, BMI and fat percentage to the app. It can remember data for up to 8 individuals. And the best part, it rewards with digital badges and awards once you achieve your health goal.
A Prizm smart music player can be an ideal gift. This little pyramid brings the best tunes to suit the individual and the ambience. It quickly learns what type of music you love, and also understands what kind of music to play in a specific environment. 9mm Earphones from Munitio is also a good choice.
For the hip-n-cool type:
Two great choices are available – Smart Watch from Android and Hero4 Black Camera from GoPro. While the watch will be a good one for any entrepreneur, the camera will be best for one that enjoys all the outdoorsy stuff.
Tile – your forgetful friend will never lose even their keys with this gift! Just attach it to the key ring or stick it to the USB and the Bluetooth will help you track it down from your Smartphone or tablet. It will be able to track 8 things at once, so your friend needn’t bother about losing any little thing anymore.
A gadget to help you mix a great cocktail – sure sounds like fun! Perfect Drink does just that. Just choose a recipe for what you wish to create, place a glass on the scale and it will guide you about what and how much to add. Tipped something more than needed? No worries; the recipe will adjust to suit it!
Not every entrepreneur’s desk is a mess! If your friend is an organizer, and a chic one, the Pfeiffer Collection by Evernote is a cool choice. The sleek minimalist stands add a touch of elegance to the desk. And if you want something that is a tad more useful too, opt for the wireless printer from Canon.
Book lovers are a little hard to shop for during the holidays. You can’t really buy them their favorite book because they most likely own it already. To make a book lover happy on Christmas you must get a little more creative with your gift selection such as a handy FingerPrint Bookmark. Or a thumb ring page holder on Etsy. For the technologically advanced how about a Kindle Fire HD from Amazon? As always, if you are looking for a quality book that your entrepreneur might not have read yet, check out the latest book previews we have released.
Well what are you waiting for? Get out there and get your shop on! These are just a few last-minute holiday gifts to buy for an entrepreneur, but either way I’m sure whatever you by your favorite entrepreneur for the Holidays will be much appreciated even if it’s another overly used motivational quote from Tony Robbins or Tim Ferriss. From everyone at The EL, we wish you a safe and Happy Holidays!
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]]>5 Steps to Promote Innovation in the Workplace Is innovation essential for your start-up? The answer is short and simple – YES! And it’s not just in the product thatRead More
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]]>5 Steps to Promote Innovation in the Workplace
Is innovation essential for your start-up? The answer is short and simple – YES! And it’s not just in the product that you need to innovate; you need to promote innovation in the workplace. And this is only possible if you have the right attitude.
How do you promote innovation in the workplace? Before you take the steps to attain this goal, you need to understand the basic difference between creativity and innovation. Creativity involves ideas while innovation implies the implementation of these ideas.
Let’s take a look at the steps you need to take to promote innovation at the workplace.
Step 1: Cultivate the right attitude. If your employees are just too afraid to speak up in front of you, they won’t bother to share their ideas with you. Cultivate the right attitude; not that of a ‘boss’, but that of a ‘leader’.
Make sure your employees look up to you, and feel free to discuss whatever innovations they think will do good to the organization. It will open the floodgates of ideas and approaches; and your business will benefit from their endeavors.
Step 2: Hire the right people. Individuals who love what they do and look forward to work are the best choices. Hire them. Look for passionate, focused people who believe in dreams and have the capability to achieve them too.
Also, keep in mind that your team members share the same vision about the organization, the product and the service. This will align their goals with yours and the team will work together as a single unit instead of an assortment of individual units.
Step 3: Re-imagine workplace environment. Today’s workplaces are maddening – what with the continuous emails, calls, conferences. Make sure the work environment is relaxed and cheerful. It will ensure the best from every team member.
Rethink the conventional pattern; a 9 to 5 routine in an office with whitewashed walls may not be the best place for innovative thoughts. A flexible approach works out to be a better option. Consider how to get the best from your entire team.
Step 4: Encourage employees. Put together a team of individuals with different capabilities, approaches and backgrounds. And welcome solutions to innovate sectors of the organization. It need not be about the innovation of the product only.
Allocate time for brainstorming sessions and urge people to be part of them. Training sessions to learn innovation techniques such as mind-mapping or lateral thinking may also prove to be advantageous for the employees at your organization.
Step 5: Reward innovation. Just persuading people to be innovative won’t do; you need to offer an incentive for them to do it on their own accord. An awards scheme to recognize the innovation in your employees can be an ideal way to do it.
It is not the reward but the recognition that matters. And also keep in mind that you need to enhance your tolerance levels to put up with mistakes. Give people the opportunity to learn from their mistakes. Don’t put off innovations, even if the ideas don’t always work out.
With a little effort, you will be able to create a work environment that promotes innovation.
Successful businesses don’t depend on a handful of people to come up with improvements. Instead, they create an environment conducive to the promotion of innovation. And this results in their success – not only in their products or services, but in every aspect.
Encouragement and empowerment of employees is important to attain this goal. And you need to have the right approach to make it real. Focus on how your employees can be at their best; and they will do their best for the organization too.
For a great book in reference, we recommend Ken Tencer’s piece entitled “Cause A Disturbance.”
Listen to my interview with Ken Tencer as we take a deeper look inside his book >>> LISTEN NOW
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