Doing a little research, you find out that someone has thought of it before. Maybe they didn’t go any further with the idea because the market was too small or it was hard to pull off as the technology wasn’t quite there yet. So you decide to noodle it some more. Perhaps you have a new viewpoint or some expertise that serves as the missing link.
That’s how it happened for Jim Bodden. He knew that people hated to surrender their homes to a painting crew who took a week to do a job. Then it hit him! If two painters can paint 10 rooms in five days, why can’t 10 painters paint the same rooms in just one day? Voila! He had a business – Wow 1-Day Painting.
The next path comes from your current job. Your company may be engaging in activities that are inefficient, costly or time-consuming. You may see an opportunity to create a new product or service that will fill that need, not only at your current employer but other businesses or even entire industries. So you decide to fill the gap.
The third way is the most common. A new idea takes shape because the individual – the entrepreneur – made a deliberate decision to focus on creating a new enterprise. The product or service may not even be clear yet. The business is the idea and the goal is to create a successful one either through innovation (improving on something that already exists) or invention (creating something entirely new).
Having the right attitude and changing behaviors will put you on this path toward ideation and entrepreneurship. As you explore what you’re passionate about, study the world around you to identify problems that need solutions – gaps that can be monetized – learn more about human behaviors, desires and needs, and ask “What if…”, an idea will start to form.