Still waiting for that lightbulb moment to strike? Here’s how to hurry it along

Many of us dream of being our own boss, and it’s often said that true success is just one great idea away. But even though inspiration can strike at any time, when it comes to creating business ideas, getting inspired can feel like an impossible task.

If you’re struggling to come up with a great idea for a brand, we’re here to help. Here are five tips to help get the cogs whirring and those cognitive wheels turning.

Never stop learning

Every day is a chance to develop new ideas, and the more information you can gather, the more worthwhile these business ideas are likely to be. Educating yourself on how businesses work and what the current landscape looks like across different industries will help you think in different ways and develop unique solutions to common problems. Having more knowledge under your belt can also boost your confidence, and ultimately give you the push you need to take the plunge and turn your best business idea into a reality. Without education, you can’t grow personally or professionally.

Write down every idea

They say there’s no such thing as a stupid question, and the same is true of ideas. We’re often our own worst critic when it comes to business ideas, and even if an idea seems like no good, there may be a kernel of brilliance to it that you can’t yet identify. Get into the habit of jotting down any and all ideas you have, no matter how ridiculous they may seem. This at least gives you the option of revisiting them with a fresh mindset, and seeing whether there’s anything worthwhile to take from them.

Start with a problem

If you’re struggling to think of a business idea, you might be coming at it from the wrong angle. Often, the best way to come across a legitimate business idea is to think of a problem that your customers already have. Start exploring the market you’d like to tackle to find out what competitors are and aren’t offering. As yourself what kind of problems and challenges they are facing, and what you can do to help them.

Outdo the competition

Very few businesses reinvent the wheel. Instead, they come up with a slightly new and more effective way to deliver a service that is already being delivered elsewhere. Customers like to have options, and you want to be the best option out there. So, even if your services are being provided by another brand, you just need to make sure that you’re providing it in a better and more convenient way. Whether you’re the most cost-effective option, provide the friendliest customer service or are championing sustainability, there needs to be something about your business that makes it stand out from the crowd.

Do what you love

It’s no secret that running a business takes a huge amount of time and effort. Your brand will dominate a huge portion of your life, so if you aren’t passionate about it, you’re setting yourself up for a lot of hard work doing something you don’t particularly enjoy. You might be tempted to chase trends or jump on bandwagons when coming up with a business idea, but in the end the most important factor is that you enjoy what you do, and feel passionate about the business you’re running. After all, if you aren’t passionate about your brand, how do you expect your customers to be?

 

Got a business idea you’d like to get off the ground? Let TEDCO Business Support give you a helping hand. Call our team today on 0191 516 61 02 or email us at hello@tedco.org.

What we offer

TEDCO offers one-on-one support provided by a dedicated team of business advisors and a range of pre start seminars available to clients who are taking the first steps into self-employment. This could be looking at an initial idea and developing it further, looking at how to start a business plan, business competitors, business marketing.

Are you eligible?

If you are looking to start and grow a business we’d love to hear from you. Our friendly team of experienced Business Advisors are on hand to take your call to discuss the support available.

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