I know how to execute but don’t have a right idea. How to generate startup ideas?

I have an idea but don’t know how to execute.

I have a great idea and know how to execute but don’t have the budget to execute.

The combination may differ but the struggle is common. Crazy startup world 🙂 Let me come to our topic how to generate startup ideas?

How to generate startup ideas:

Few people struggle a lot to become a successful entrepreneur and few become by accident. However, an idea plays a vital role in the journey. Everyone is unique, and their brought up is unique either. Eventually, I would firmly believe that everyone can have great different ideas.  5% of the people only can make a difference to dare to face the battle with their idea.

Every idea definitely will have a customer base. However, the success is with reaching them in right way. For instance, I will let you know my experience being a writer to put a title to an article. Let’s take below two titles

1. 5 Easy steps to get funding.
2. 5 Essential health tips to follow.

You know, the first title will have numerous instant views. Apparently, the second one also has a good number of views but need more efforts to reach them and this customer base stays for a longer time.

Innovative mindset:

Few guys have extraordinary ideas with their innovative mindset. Real innovation always gets admired and accepted. iPhone is the best example for great innovations. However, sometimes ‘Being early is same being wrong,’  many innovative ideas were failed as they were ahead of time to adopt. For instance, ‘Go corporation’ introduced pen-based mini computers in 1987, it should have been succeeded.

Idea from normal lifestyle:

I want to favor middle-income group in this subheading; please bear me. Business will have great success as long as the target customers are a middle-income group because the middle-income group is the largest group which has buying capability. Consequently, it is easy to pick up an idea which can convert as a successful startup for a guy who is from that group.

A guy from this group pretty much knows the lifestyle and needs. Apparently, guys from MIG: Please pick up and idea which can solve a problem from your lifestyle, this is one of the best ways How to generate startup ideas.

Solving a real problem:

Solving a real problem is always an excellent idea. The majority of the people usually pick up an idea which is easy to implement, it may be good, but if it is easy to get everyone, competition is also high. Real problem solver has more the 50% chances of success ratio.

For instance, We have a scarcity of cybersecurity startups. The majority of the experts are discussing  IOT and its future. However, how many people are thinking about the need for security? When these many devices are connected to the internet, huge data and analytics are accessible to people. Where is the security? How are we going to plan? How to mitigate the problem?

Gel with the people who has entrepreneur mindset:

Gel with people who has entrepreneur mindset would help you to know about startups, ideas, how to execute, how to fine tune idea, which is workable. As your mindset will have an impact based on the people surrounded. Consequently, it helps to get into a pond where the frogs available with same madness. This is one of the ways, how to generate startup ideas.

Raised in the business family:

People those who got raised in the business family have some inbuilt business mindset. Eventually, moral and financial support from the family as they would have gone through the same cycle. It is a great advantage to synchronize with the system and generate ideas.

Take Away:

• Real problem solver has high success chances.
• Think in such a way to solve a problem instead what else can I sell online.
• Great innovation can share the world; other players don’t even dare to get into your space.
• Fine tuning of an idea is pretty important before start execution.
• The target set of customers is necessary to generate and execute the idea.
• I would suggest targeting middle-income group have a bigger customer base.
• Everyone will have ideas, but very few people provide a shape to them.
• Note every idea when it comes to your mind. Consequently, you can filter the ideas.

Also Read: Startup idea with 3D Printing technology

Narasimha Mohan

He is the Author, Product Specialist, Business Consultant, Entrepreneur, Public Speaker, Thought provoking writer, and Joke writer. Follow him on Twitter