What are the best ways to generate good business ideas?

One of the reasons why some people business fails is because they never plan it well. Planning is the bedrock of all business, and businesses that would succeed must have a good plan. So what are the best ways to get this...

Do nothing. One of the greatest ways to generate good business ideas is to take time off and relax. It frees your mind up to think. And most importantly, it gives your mind space for the creativity to flow. A lot of the times, most of the best ideas are right under our nose… we’re just so busy and constantly moving that we don’t even notice.

Use the magic question. Go around and interview 20–30 people in the industry you want to start a business in. Then, ask them the magic question. “What is the biggest pain that you face in the day to day?” Record all of your answers and then see if you notice a pattern. If you find an answer that keeps coming up, it’s time for you to take action. Figure out a solution to that problem and BOOM, you’ve got yourself an amazing business idea.

Travel the world. Want to know how Blake Mycoskie came up with Tom’s, the multi million dollar shoe company? He traveled to Argentina, noticed a shoe that was used by the herders on the farms and rebranded it. Now, he runs one of the biggest apparel companies in the world and has a net worth of over 300 million dollars. He wouldn’t have ever come up with the idea unless he took that trip to Argentina…

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Need business ideas, we got you covered. You will never be exhausted with this resource guide. Look no further.