How To Find A Good Business Idea (+ Easily Test Them For Free)
When I started my business eight years ago I went to companies and offered them a random service that I came up with and I thought people would be interested in. The ultimate proof of a good business idea is if people give you money for it. This is the only proof I am satisfied with. In some cases if you need to initially invest a lot of money it is a little harder to sell it before you have the company set up fully.
Validating an idea
There are methods circulating on how to find if a business idea is good or not. Some examples include customer surveys or even just asking people if they would buy the product or service. These typically do not generate good replies but people telling you what they think they should say instead. This is the first way to determine if your idea is good or bad, though it is not very useful.
The second way is going to your superiors in your company or in your niche market and asking them for their advice. Yes they can give you good advice, though the problem is that they are disconnected from your audience, your market, and they cannot connect with the two. This means their advice is worth a little bit less.
The third way is considered the good way. What has worked well for me is going to peers who already made it or who are slightly ahead of me in my field. They are already selling to the same market and selling the same types of products and services so they can validate exactly what you are doing and exactly what you are going to sell. I have found this to work amazingly well. In tests, it has been found that this is the best way to validate business ideas and other ideas in general.
How do you find a business idea in general?
You can go look at companies and see what they are already doing and you can improve upon it. Rather than trying to find your own business model and create everything from scratch and being super creative, you can get a working business model and improve upon it.