While many people will tell you that execution is more important than an Idea, coming up with an idea to start with is still one of the biggest barriers entrepreneurs have in starting their own business. So how do you come up with the next idea like Larry Page and Sergey Brin with Google, Steve Jobs with Apple or Elon Musk with Tesla? The answer is to not look for ideas rather solutions via a technique we call observational Thinking.
So did you get the right answer below? If you counted 12 then that’s because your brain only sees what you program it to look for.
Observational Thinking is about paying to attention to your surroundings, listening out to people saying things like “How do I…”, “I don’t like…” or “I can’t find…”, challenging conventions and thinking about What If scenarios that can make a lasting difference. Think about the opportunities you missed because were not applying Observational Thinking:
Look closely what do these businesses have in common. They solve a customer need, problem or frustration and they make an existing experience better.
The following techniques can help improve your Observational awareness and improve your Thinking for the next great idea.
Now you have an idea, what next? Many people think we need to start with a business plan. Let’s start with burning this business plan. A business plan is going to maximise your risk of failure. Why is that?