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6 practices to find your own startup idea 2018

292 views · Published 17 March 2018 · 7:27 · Indexed 10 November 2026

Channel: BBCD · 2018 · Howto & Style

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6 practices to find your own startup idea 2018
 
# Inefficiencies Gold Mine 

Think twice this recent picture shows a 50 lane traffic jam in China. makes you
feel better about your rather small scale traffic jam right and it's also a
great inspiration for finding new ideas.
Try to spot inefficiencies like this, outdated business practices and terrible
customer service. that's often how it is in well-established industries where
there's too little competition to stimulate innovation  

when a city was awarded a cable operator people had no choice but to use it so of course
there was no need to improve customer service because it was impossible to
switch to another provider. instead the cable companies were more focusing on
their own business processes first and customers came second. 

# Middle Man Riddle

Another way to spot ideas is to observe of industries which have a lot of
middlemen don't get me wrong it's not about making others lose their jobs but
sometimes industries just become overwhelmed with middlemen and get more
inefficient in the process. the customer ends up paying the bill.

very often technology can solve the problem by creating a unique go-to place
for specific types of products or services.  

thanks to many acquisitions including the most recent one of orbits which
makes Expedia the market leader in the US


Thomas Edison once said success is just 1% inspiration
and 99% perspiration. it's not about who had the innovative idea first but who
executed  it better and became market leader faster

Lets move to third

# Develop and Expertise

Many famous companies out there started with a great ideas when founders were really good at something.  Very often there were simple
side projects that were started to solve personal niche problems or even just for
fun.  

Another good example is hotmail the developers Jack
Smith and Sabeer Bhatia were working at Apple and wanted to communicate with
each other about their business ideas. 
But they didn't want to do it from their work emails because that will enable their bosses to read there conversations.

They also couldn't access their private emails because they were behind firewalls and the
company's firewalls blocked access to it. 

so that's when they started to code a web-based email service that can be
accessed from anywhere in the world and that is not linked to any Internet
service provider and so hotmail was born. 

# Observe Interactions

what if you feel you're not a nerd or even a techy, there are other ways to spot great ideas like observing your surroundings.

A good one is tinder its founders Sean rad and Justin Mateen knew each other since they were teenagers and studied entrepreneurship together. Rad observed
how difficult it was to approach a girl when you don't know her and especially
when you're shy. 


# Future treands
Do you recognize this place? 
Well this is how India might look like if you
look into future from now. 

Monitoring future trends is another great way to find
opportunities. don't start anything in a dying industry instead get yourself up
to speed in growing industries and the most important global trends.
 


for some inspiration you can check out Gartner's hype cycle for
emerging technologies which shows each year which technologies are at which
stage of maturity 

for example drones, robotics 3d printing and virtual reality
are important emerging technologies today 

all these are growing business areas with lots of opportunities. if you
set out to look at them. 



# Passion Fruit
There are surely things that you're passionate about living after the mode to love and do what you love is not just random words on the entrepreneurial
roller coaster   

he joined forces with his childhood friend Evan sharp who was also
an avid collector together they created Pinterest to bring the collecting
experience online and help connect people who have common interests.

so let's recap spotting problems leads to uncovering
great opportunities and opportunities leads to come up with innovative ideas.

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