When you are planning to start a business the first thing you are going to do is brainstorm. Brainstorming is simply a process of gathering ideas between creative people with a problem in mind and finding a solution to it.
Entrepreneurs have practiced brainstorming for business ideas since the dawn of time. But there are people who come up with interesting ideas but others fumble around.
So in this blog, you’ll get to know a few tricks and techniques to brainstorm business ideas in 2021. Shall we jump in to know more?
Techniques for brainstorming sessions in 2021:
Brainstorm with a group:
A group doesn’t necessarily have to be of more people. But it is essential to brainstorm at least with one more person. With more people, comes an avenue of new ideas, pitches, and different perspectives of looking into an idea.
This could also increase the chances of elimination of impractical ideas, bad ones, etc.
Quality before Quantity:
Having more ideas is good, but not at the cost of losing good ideas with excessive potential. During the elimination of ideas make sure that you list your ideas into Tier 1, Tier 2, and Tier 3.
The parameters to evaluate could be of your own choice and scoring them. But these are the few criteria that I would personally segregate in;
- The clarity in foreseeing the idea.
- Market value.
- The number of potential competitors.
- Clearcut target audience.
- Showing potential after interacting with pros and experts in the field.
- Budget (Very Important!)
- Job Market (You gotta hire at some point!)
- You could add more or alter the parameter according to your need.
Draw a Mind Map:
Being visual is pretty essential when it comes to business. Mind mapping will help you think, collect data and resources to expand your knowledge.
You must be able to answer a few questions when it comes to brainstorming business ideas. Or you could just use these parameters you framed to come up with a mind map and you can cross-examine with your mentor or team, etc.
Tricks during Brainstorming Business Ideas in 2021:
Googling is a very reliable tactic when it comes to making a point in your brainstorming sessions. Reading business articles, blogs, and white papers of the businesses similar to that of your ideas. And take keynotes to discuss with your brainstorming group.
Understanding the workflow, approaching the target audience is also a part of the research program. Formulate a focus group if you want to make it feel real!
2. Develop before you share:
It is always wise to develop an overview of your idea into something worth sharing, before abruptly sharing it with the peeps (outside your brainstorming troop).
Have plans for extensive market research as it will help you narrow down your ideas very quickly and also it could help you with analyzing who will be your target market and such.
3. Name the business:
Losing interest in the brainstorming session?
Name the business to get a personal connection with your potential business. If you feel pressured during the brainstorming session, take a break by naming and deciding the logo of your business.
Though coming up with business ideas is a creative side – it involves analytical thinking and such. But when it comes to names and logos it is pure creativity. Just go for it!
4. Find the purpose of your idea:
The business that you plan on doing must have a strong purpose to fulfill, either personally or environmentally.
- Picking a business idea because you are extremely passionate about it.
- Picking a business idea because you know the inch inside out and can never imagine you taking up other business ideas.
- Choosing a business idea because you want to solve this issue: in the environmental aspect, or consumer problem-solving aspect, or anything of your ideology.
5. Talk to similar business owners:
As we discussed the importance of networking during brainstorming, it is of core importance that you talk and collaborate with other business owners who are into the same business that you are planning on executing.
You could have a casual conversation rather than digging deep about their aspirations for their business. They could serve as a source of information for you to proceed further with your business idea.
These are some of the tricks and techniques that I could think of when it comes to brainstorming ideas for your potential business.
Consistency is the key to win the jackpot when it comes to business execution and more importantly, Success.