5 Ways to Come up with Great Business Ideas.
Great business ideas are all around you. Just open yourself to the possibilities, and you're bound to find a winner. Life experience indicates that there are three things that make people rich: figure out how to give people things they want. Give it to them day after day after day after day. Scale the process.

Here are some of the tricks you may deploy to come up with great business ideas.

1. Solve problems

The easiest way to come up with business ideas is to solve problems you have. The second easiest is to solve problems others have. Many of the products you have become used to using were actually invented to solve a problem, including Thermoflasks to keep coffee/food warm, sunglasses to protect from the glare, security alarms to alert you that someone has broken in, fire hydrants to put out a fire before the whole place goes up, toothbrushes to keep your teeth clean, and dental floss to fish out unwanted food. The list is literally endless.

2. Add Value to an Already Existing Product

The uniqueness between raw wood and finished lumber is a nice instance of putting a product through an additional process which maximizes its value, but additional processes are not the only way that value can be added. You may as well add services or combine the product with other related products.

For example, yam flour (Amala/Pounded Yam ) is a locally processed commodity but somebody took the pain to refine it better, package it, brand it and began exporting it. That is an example of adding value to an already existing product. Bottled water has been in existence in Nigeria but it was on the high side with respect to price. However, somebody sat down and thought up the “ sachet water ” which comes at an affordable rate. Recall: someone started the idea of plaintain chips as well.

3. The Mass Media

The mass media is also a platform for the generation and sources of business ideas using the following methods:
a. study commercial adverts on business needs and sales of entire businesses
b. extract information from reports on changes in fashions or consumer needs e.g healthy eating, weight loss.
c. sieve through adverts for popular skills demanded e.g security, catering, web/graphic design.

4. Save People Money.

Yet another great way to come up with ideas is to think about saving people money. People buy 23 watt energy-saving lightbulbs because they’re affordable/save electricity costs, not because they last for years and are actually the equivalent of a 100 watt lightbulb, though that’s an obvious bonus too. Thus, if you can figure out how to save people money, you’ll have a good business idea, new or not.

5. Make People’s Lives Easier

It should be noted that coming up with business ideas doesn’t necessarily mean you have to focus on inventing new products or services. In fact, you could just easily adapt an existing service or introduce a new benefit that makes peoples’ lives easier. For instance, shopping baskets placed at convenient intervals in the store in case a customer decides to purchase more than what his/her arms can hold. Going forward, start observing the things around you and ask; how could this be easier? How could it be more intuitive, less stressful, and in general more pleasant to use? You may find that even the tiniest change will create something incredibly popular.

Conclusively, remarkable new business ideas are everywhere and there is a limitless supply of concepts waiting to be commercialized, launched and marketed. Remember, people want so many different things, and they are eager to trade money for those things. So, look around your world. What do people want? You may always ask them.

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