probably notThe majority of people believe that the first step to coming up with a great company idea is to brainstorm. You have probably heard about “idea brainstorming” sessions where individuals or groups attempt to come up with the next million dollar idea. This can be fruitful but it’s not the only way to generate ideas.
It’s important to realize that the great inventions that have happened throughout history solve real, deep rooted problems. They transform rather than simply build on existing ideas with minimal improvements. This often requires thorough research to see whether others are willing to embrace your new invention as explained on https://thriveglobal.com/stories/a-discussion-about-inventhelp-and-helping-people-achieve-their-goals/.
Step 1:
Think within big industries which make a lot of money, especially those which are growing: These companies do well because people are willing to buy the goods or services. You won’t be able to compete with the big guys so try to find a niche. You don’t want to be diving into a market where consumers are spending less and less money. A good place to see what areas are growing is to throw a few of your own ideas into Google Trends to see how big the market is compared to others and whether it is healthy or diminishing.
Step 2:
Find out the problems and annoyances facing consumers and businesses: Once you have chosen the market you need to find unsolved problems within it. You need to begin understanding the intricacies of the work done by businesses by talking to experts, customers and employees. Sometimes the best way is to get a job and find out for yourself. This is often the part which people choose to skip or ignore because it requires considerable time and effort to get in touch and get talking to the right people.
Step 3:
Come up with a plan for your invention but keep it simple: I’m not expert when it comes to business plans and there is plenty of help on the internet to get walk you through making one. Of course, if you are trying to sell your invention idea to a potential investor they will need know it makes financial sense. The most important thing is to keep the product simple to begin with, the biggest mistake is wasting time and money on refinement or add-on features before you have got the basics right. Customers will embrace the invention if it gets to the core of their problem or need, regardless if it doesn’t have all the bells and whistles at launch.
Step 4:
Start trying, even though you might get it wrong: Chances are your first idea for a solution will be wrong. It might need altering or even require starting from scratch. If you have the homework and still believe your idea is great, now is the time to put your full effort behind it. This can be a scary moment, often because of the financial risk, but few great inventions ever came about without risks being taken. Remember, you have to go out there and start trying, otherwise you will never get the ball rolling and your dream of being the next great inventor will always be just that, a dream.
You might find yourself going through the research steps more than once before you feel you have something good. The good news is, each time you do it the more you will learn and you will be more likely to stumble across the next big thing as stated on https://easyreadernews.com/why-inventhelp-has-become-so-crucial-for-new-inventors/.
