5 Ways to Capture Better Business Ideas

Innovation makes the world go around. Everything starts with a dream, which soon shapes itself into an idea. The founding of Pizza Hut, back in 1958, by Dan and Frank Carney, who knew nothing about making pizza, was made possible after they decided to borrow $600 from their mother and learn to bake a pizza. 

The delicious fast food became a hit. By 1971, Pizza Hut was in 310 locations. In 2020, their franchises have crossed 17,000. 

So, how did they conceive and execute the pizza hut idea? 

All it took was one idea and the action toward achieving it. 

Ideas are only powerful when you capture them. When creativity happens, you cash in on the opportunity. 

Your success depends on a good note-taking system for your ideas:

1. Seek Inspiration from School

Choosing to get qualified may be the stepping stone you need. Grad schools, like an MBA program, expose you to ideas, skills, and professionals you may never have found on your own. 

When you go for a business degree, you learn how to launch a company, nurture its growth, and help make it a success. The concepts you learn from business school include: finance, marketing strategy, and operational management. 

You can start your own entrepreneurial journey by enrolling in mba programs online and then starting to apply the skills you learn to your own ideas. 

For instance, if you wish to open an ice cream shop, your MBA degree will guide you on the core fundamentals of owning a shop, location hunting, and capital management. 

2. Always Keep a Journal on You

Journaling allows you to gather your thoughts on paper. When you’re thinking of an idea, it’s easy to assume it to be flawless. 

But when you get it out on the paper, you can judge whether it’s worth it or not. Journaling also helps you to take down your inspirational thoughts. 

So, anytime you feel a thought for a great plan coming up, write it to save it on paper, so you can’t lose it. You can use a notebook and a pen, or use the Notes or Memos apps on your phone. 

The only advantage using apps for journaling is that it allows for seamless syncing. Make sure you organize your thoughts on paper as well. 

3. Keep Up with Trends

Trends can guide you on where the current market stands. You can’t act on outdated business plans, since there is no consumer market for them. 

Technology can inform you on what the consumers’ wants are. The niches you could explore can include: services, lifestyle, and fashion. 

You can also diversify your businesses, like Kylie Jenner did after the success of her trademark entertainment show, but now she also has a cosmetics line. 

You can act along similar lines and think hard and long about what needs the consumers have. 

Since most people work long hours, you can offer a cleaning service to maintain their household while they’re away. Freelance writing is another profitable area where you can make good money. 

You can make content from almost anywhere, armed only with a laptop and an internet device. 

4. Dedicate Time to Develop Your Ideas

When you have an outpouring of ideas, you can’t simply write them down and move on to the next thing. Sitting with the idea and thinking about it is also part of the process. 

Your idea needs polishing. You should dedicate a few hours every day or even in a week to mind map the possible scenarios involved in executing your ideas. Management tools can help keep track of your plans and the blueprints needed for successful execution and revision. If you have partners you wish to go into business with, you can include them in the process. 

You can introduce a scoping workshop that provides an outlook into your unique innovation while discussing the potential pitfalls, working with diverse perspectives, and assessing your idea from a consumer point of view. 

If you lack inspiration, you can always Google how other business owners from similar niches made their products work. If you can learn about upgrades or improvements to your current plan, add them to your business proposal.

5. Talk To Professional Business People

You can always discuss your idea with those around you. Business owners and entrepreneurs can help you decide on best action plans. 

You can email, attend conferences or even contact entrepreneurs over social media to get the conversation going. Businesses today are no longer large-scale enterprises with several franchises and multiple stores. 

They can also be found online, run entirely from home, or managed by social media influencers. In your conversations with the experts, you should ask them to identify any loopholes or possibilities for upgrade in your ideas. 

When you have all the answers you need, you will be in a better position to decide whether it’s worth following through with the idea or abandoning it would be wiser. While learning what works, don’t forget to visit what doesn’t. Failures and setbacks are also part of the process and prove as vital learning lessons.

Final Thoughts

Businesses are, more often than not, ambitious ventures. Once your idea takes off, there’s nothing stopping you from achieving success. But before you can begin the process of financing your plans, you need to brainstorm your ideas first. Innovative solutions are in high demand. It’s time you came up with yours. You should make sure you have the right note-taking system in place for capturing ideas. Once you have the idea, learn to sit with it and dwell on it for a while. You can also reach out to thought leaders in your space and run your ideas by them; they often have valuable insights to offer. They can also help you sift the good ideas from the bad. And, lastly, you should learn by example. Instead of reinventing the wheel, sometimes, it’s better to make use of what’s already out there. Creativity is not always about the original ideas; it’s about making new connections between old ones.