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10 Ways To Come Up With New Business Ideas in 2020

How many of you are in search of business ideas? How many times did you tell people “I want to start a business but have no business idea in mind?”

In reality, there are tons of business ideas around you, and you are capable of doing most of them. Just look around, pay attention to things you have never noticed before. Everything you do or see could become a business idea worth a million one day.

We all are afraid to start a business, as it comes with a huge responsibility and risks. But if you don’t take risks you will always work for someone who does.

With this in mind, in this article, I have listed 10 proven ways to come up with new business ideas.

1. Find Solutions To Problems

The 21st century is an era of technology revolution, creativity, and innovation. People search for new ideas and inventions that will make our lives easier and will decrease the time waste. They say these ideas are mostly generated by lazy people who are seeking for solutions.

But any of us could be innovators if we were more observant and problem-oriented. Learn about problems that may be easily solved and think of the best solution we can offer.

2. Write Down Your Ideas Daily

Use from ten to twenty minutes a day to write down at least 5 new ideas. Read your ideas from time to time and check if you are able to achieve any of them, if yes start developing your idea.
Writing new ideas daily will make you develop yourself and your ideas.

When you write down your idea, you start focusing your attention on it. Also try to write down your idea thoughts in that moment, as they may appear in your mind in very strange moments, and you may forget them in a second.

3. Clear Your Mind

The best ideas usually come when you are carefree. Of course, it’s hard to concentrate on business ideas when you are worried about work or family. But you need to get rid of all the distractions you have.
Try to meditate or find your way to clear your mind, it may be going to the gym, doing yoga, playing golf or tennis.
When you workout, suddenly so many creative ideas pop up in your mind. Almost all billionaires start their morning routine with physical exercises or jogging.

4. Travel for New Ideas

Studies have shown that one of the benefits of traveling is that a person gets more creative after traveling the world. You see things that are new to you, your culture and religion. If you start thinking like an entrepreneur you will also notice business ideas during each trip of yours.
When traveling, keep your attention to details, see what’s new out there, and write down ideas that you can implement in your country. Detect ideas from the places you go, if possible speak to the business owners and ask for their advice.
Besides generating new ideas you may also make new connections, and use this connection when starting your business.

5. Brainstorm

Group with likeminded people and do some brainstorming of business ideas. This will not only help to learn new ideas, but also hear the opinion of others about your ideas, and know your low points.
You may also use some online tools for brainstorming such as MindMeister, and StormBoard. This will make your experience much more interesting and effective.

brainstorm ideas

6. Use Your Network

The connections you make today may help you to become a successful businessman tomorrow. Networking is one of the most important skills that every businessman needs to be good at.
You may get important advice, find people who are ready to help and even generate new business ideas while networking. Always stay in touch with your former connections, but also make sure you connect with new people who are more likely to know your business needs.
Take part in seminars and courses where these people hang out. Connect them through social channels like LinkedIn, Twitter and Instagram.

7. Bring Your Skills Into Play

Let’s say you are a marketing specialist who has extensive experience in the field. You can use the skills to write a book and sell it on Amazon, or shoot Marketing Courses and sell it on Lynda or Udemy.
Use your developed skills to produce new business ideas, build your business based on your skills and knowledge. If your skills are not enough, you can find a business partner with relevant skills. And team up with him to come up with something big.

8. Experiment with “maybe ideas”

You might already have a bunch of ideas, but you feel that they are not the ones you need. But do you always think objectively?
Maybe those are just your fears holding you back, and these ideas are really a point you can start with. So give them a second thought and think objectively. If this is something you can work with then just give it a try.

9. Think Differently

Try different methods of thinking find which one works better for you. Boost your creative thinking with certain exercises. You can draw your ideas using your imagination, give them shapes and colors.
Think from different perspectives. Experiment with your imagination and just go with the flow.

10. Talk to Customers

Talk to people who have already spent money on the business idea that you have in mind. They will help you understand how to improve your idea.
Hear their complaints to find out about the weak points of your future competitors. Understand the customer needs, and to use all the key factors for your business.

Summing up all ten ideas, the most important factor in each business success is the market need. After generating the idea, make a deep market research to make sure your project is relevant to user needs. Don’t overthink, but go for it!

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