Where Do I Get A Business Idea?

I have seen and heard many young prospective entrepreneurs talk about money to start a business even when they do not have an idea of the business to do. You hear such things as “as soon as I get the money, I will know what to do”. It simply does not work that way. In business start-up, idea precedes fund. Let us briefly look at few places to check when searching for business ideas:

1. Your passion - Honestly, looking inward is the first advice for anyone searching for business idea. You business idea is right inside you, God has placed the future of everything in itself – The future and survival of an orange tree is in the seed of the orange, so it is with every other thing and person. Everything pertaining to life and godliness has been given to you. What is that thing that you dearly love to do, that you find yourself talk about most often, that you will not mind spending your last money on? That is the passion, and many are already making money with theirs, so join them. May be you talk so well, may be you cook so well, or you teach so well. If comedians turned theirs to money, you can too. The only addition here is that your passion must be needed by people around. If you follow passion that is not in demand you will make no money.

2. Frustration - personal frustration or community frustration is a great source of idea for business. What are people complaining about in your area? What are people dissatisfied with and what can you do about it. The simple definition of entrepreneurship is providing solution to peoples’ problems. Whoever solves the most problems gets the largest share of peoples’ money. That is how it works. If people have to drive 50 minutes to get a school for their children where you live, is it not time to open a primary school for them. If there has not been light in your area for the past 5 months, is it not time to begin to sell candles, then rechargeable lamp, then generators and then solar installation? Frustration provides great business ideas for the wise, and I know you are.

3. Prayer - “Call upon me and I will show you great and mighty things that eyes have not seen”. God has been faithful to His word. Many have been shown great business ideas after days or weeks of prayers. When He says I give you power to make wealth, I do not think it is physical power alone. So go ahead and call on God. ‘God, please give me an idea that will affect my generation positively and turn around my financial situation as I enter another year’.

4. Brainstorming - Most of the time, you meet with friends and just waste the precious moments. When next you sit with your friends, just open up a discussion along business line, you may just begin with a simple question like ‘Samuel, what business can you do with a gift of #250,000?’ I bet you, if you are up to five or more, that discussion may last you two or more hours. At the end, you would have gathered as many business ideas as possible. The reason is, as someone suggests the other person refines or disagrees and it goes on and on.

5. News - We sometimes just watch television, listen to radio and read papers without observing lots of business opportunities in all these. Beginning from now (if you have not been doing it), pay special attention to what you watch on the television, hear on radio and read on the pages of newspapers. Ask yourself always, ‘what have they said? What have I learnt? What can I do with it? If for example they show a man selling a particular thing in Kano, can you think of what it will look like if you start that same thing there in Osogbo where you live?

6. Internet - ‘The world has become a global village’ ‘Professor Google is the most intelligent man’. These are sayings that describe the internet. There a lots of business ideas on the internet. When next you log on, also log you entrepreneur mind on. There are things they sell in Texas that is yet to get to Abuja, how can you get it there?

There are just lots of things that provide opportunities for business idea generation. We have not said anything about seminar, books and so on. Idea, someone says rules the world. You need just one workable and profitable idea to make year a financially prosperous one, so go ahead and get that idea. Sometimes, the ideas from God may look so simple and funny, do not look down on it. Whatever He tells you to do, just do it. Success is in obedience and not in how complicated an idea is.

Taiwo Aluko