Monday, 17 February 2014

How to generate business ideas (2)


We started this series with How to generate business ideas (1) which began this week. We are continuing with the part two of this same topic.Today, we shall look at other factors on how we can generate business ideas.

Remember your dreams
You can as well develop business ideas from your dreams. Jacob freed himself from his shylock father-in-law, Laban through the ideas he got in a dream! Also, through dreams, Joseph discovered that he would become a great leader. What are your dreams? What do you do in your dreams? Can you remember those things you do so well in your dreams? You better remember them and begin to practice such things physically because you never can tell they may be the business ideas you have been looking for that will transform your life! A man saw himself frying plantain chips in the dreams several times and started getting worried as he did not know what the dream meant.
At a point he decided to fry some plantain chips and gave them out as freebies. The plantain chips tasted so sweet that the people that ate them started asking for more with the promise to pay for them! That was how the man started the plantain chips business that has become an international brand. You too can generate business ideas from your dreams if only you can remember your dreams and also put what you see in your dreams into practice.
Study your environment
Your environment can give you inspirational business ideas. This you can achieve by simply studying your environment to know the paramount needs of the people. Human needs are insatiable as postulated by Adams Smith of blessed memory. What are the needs of the people in your environment? So, there are many human needs around us but one person can’t meet all these needs that is why you have to choose the one (s) you can meet in your environment. For instance, in Nigeria, the business of private schools will continue to thrive because the three tiers of government-local, state and federal are not building new schools. Even the schools that were built by the governments in the past are not maintained. This is why anybody that builds private schools in Nigeria can never lose especially at the nursery, primary and secondary levels! Thus, if you have the money you can as well put your hands into this line of business. A good business you will say.
In addition, a person that stays near a construction site can develop a business idea by cooking and selling food to the construction workers. This is so because constructions companies hardly provide canteens for their workers as most of their workers are casual workers. In fact, there are many business ideas we can create from our environment. Also, if you have the wherewithal you can build a clinic or even hospital to meet the health needs of the people in your environment.  Now, look at your environment, there is a business you can do there.
Ask questions
Business ideas can flow to us by asking questions. You can move from company to company to ask them what materials they need in their production process. Presently, many companies buy their used products for recycling. Waste or used materials have become veritable sources of raw materials for manufacturing industries across the world. But the use of waste materials as raw materials for industries is still a novelty in Nigeria. This is why the business is viable for everyone that goes into it. Used materials are now high demand in Nigeria unlike in the past. Many recycling industries are spring up in the country. Visit and ask them what used materials they need and supply to them. You can make a fortune from such a business. There is a man in the area I live in. All this man does is to buy all manner of waste or used materials from scavengers. The man is always busy as scavengers bring used materials in large quantities to him on a daily basis. And weekly, he loads a lorry truck which he sells to some manufacturing companies within the Lagos metropolis. Can you beat this? You may begin to think along this business line.
What do people need?
Major inventions the world is enjoying today are answers to the various needs of the human race. Think about the electric bulb that was invented by Thomas Edison, the aeroplane by the Wright Brothers, the telephone by Graham Bells, etc were invented to meet the needs of the human race. With these inventions in place, you too can create your business ideas around these inventions that will put food on your table.  
Improve poor quality of product or service
Business ideas can come from poor quality service and product that are rendered or produced by people. I recall that in the past in Nigeria, cold water was sold in nylon wrappers which was also known as “Iced water”. But a certain woman was not happy with the way water was sold in nylon wrappers so she came up with the idea of pure water. Thus, pure water was introduced into the Nigerian market by a creative Nigerian who was disgusted with the way cold water was packaged and sold. So, the woman came up with decent and innovative packaging that brought “Iced water” to national brand! Today, pure water has become a household name. You too can create a business from other peoples businesses. Ordinarily, nobody can trace the origin of “Iced water” in the Nigerian market but it took a woman with a creative idea to repackage it into what is now known as pure water.   
Travels and tours
There are so many businesses around the world that are not known to people outside where they are domiciled. But through travels and tours people from other countries and continents can get to know them. Such people can replicate such businesses in their home countries. Today, there are local cuisines that are being replicated in other countries other than their country of origin by people who visited such countries. You can replicate the businesses you saw in other countries you visited in your home country. Travels and tours are veritable means of getting workable business ideas.

I believe by now you must have gotten some business ideas from all I have shared with you in this post. So, try some of the aforementioned factors to aid you in creating your business ideas. You will make it. See you at the top! 

For counseling on how to generate business ideas, call: 08039181737 

Dear VME readers, what did you gain from this article? Are there other business ideas
you know that you can share with us? Please, mention them in the comment section. Thank you.

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