How to Create a Winning Business Idea–in Six Easy Steps

I often meet business founders whose minds are overflowing with brilliant ideas for new products. They seem to develop terrific new concepts every single day of their lives.  They are watchful, always enquiring, perceptive and continually seeking (and often finding) the next big thing. Their never-ending challenge is to pick a winner—(only one!)–out of scores of possibilities, and run with it.

Entrepreneurs can learn to create a winning idea

On the other hand, I listen to intelligent and aspiring entrepreneurs who can’t concoct a single viable idea. These great souls are bright and earnest, but for some reason, imaginative ideas escape.

Within my circle of friends I see both types of individuals.  One is the quintessential entrepreneur who has developed several companies and has recently launched a new firm.

The other struggles to envision the next great product everyone in America would want.   From time to time, he asks me if there is a method to generating a great idea.

Today I am happy to share with you the process for creating a world-class idea, in six easy steps:

1. Infinite Ideas Remarkable new product ideas are everywhere and there is a limitless supply of concepts waiting to be commercialized, launched and marketed. They are there to be seen and pursued by those who seek them.   In fact, ideas are available to everyone, worldwide, and at any moment.   In some cases, an innovator in Israel and a thinker in Palo Alto will be enlightened at the same moment in time.

Ideas can be small and simple, or large and complex.  A passion for a subject may be the genesis of a compelling idea; derived from time enjoying a cherished hobby.  A new product may result from a tinkerer who sees an opportunity to transpose an existing concept to a totally new context.  Or someone might envision blending two disparate disciplines into an entirely new field of endeavor.

Special note: for entrepreneurs who have trouble generating ideas on their own, they can look to universities that have technology transfer offices. Research universities have a wealth of ideas awaiting the arrival of someone who can take the products to market.  If an entrepreneur can take a researched idea, validate it in the marketplace and license it from the university, he or she can commercialize the product it as though the idea were his own. … Read full story at forbes

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  1. Matt Kaludi July 26, 2012 at 10:54 am - Reply

    Ideas can be small and simple, or large and complex. A passion for a subject may be the genesis of a compelling idea; derived from time enjoying a cherished hobby. A new product may result from a tinkerer who sees an opportunity to transpose an existing concept to a totally new context. Or someone might envision blending two disparate disciplines into an entirely new field of endeavor.

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