What is the reason behind all great business ideas coming out of solutions?
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Are you looking for a business idea and don't know where to start? Can you identify any problem affecting your locality or the society at large? Can you find a solution to this problem? Good. You've just discovered a business idea right there.
Most people scratch their heads for that one business idea that will catapult them to immense riches. They think so hard yet the solution is very simple.
Identify a problem affecting people and then come up with a solution to it.
Just to illustrate this point, I have decided to mention a few examples of businesses that have been borne out of solutions to problems.
- Estate Garbage Collection – Some companies have turned waste collection into big business and are minting millions out of it. The problem here was proper disposal of waste in estates without mush hustle and these guys came up with a solution of collecting waste and properly disposing it somewhere else.
- Social networks – Who doesn’t love networking with friends and new people? Social network giants like Facebook and twitter leveraged on this problem of humans and came up with social networks that help us communicate and network easily.
- Niche blogs – We’ve all heard of those successful niche blogs that specialize on just one topic but are huge. A good example is ghafla, a Kenyan entertainment that purely focuses on Kenyan entertainment and is a big hit. Ghafla leveraged on the “thirst” of Kenyans for local entertainment news and they came up with a great solution to it.
- Hotels-People won’t always have time to cook in their homes every other time and the idea of hotels was definitely borne out of this. People will always be hungry and if you can identify a region that doesn’t have a nice hotel then set up yours there to solve this problem.
- Movies: The need for entertainment brought forth this multi-billion industry of movies.
Movies have proved to be a great solution to boredom in homes.
- The need for shade: Would outdoor events be successful without the help of shade structures like tents? Don’t you think it would be all chaos and interruption when it starts to rain or when the sun gets too hot? The need for a shade for outdoor events like camping and weddings made one Kenyan entrepreneur, Erick Kinoti, come up with a company known as shade systems. The company provides all types of shades and it’s raking in millions thanks to the simple solution of providing shades.
As you have noted, business ideas are borne out of problems and if you can come up with an answer to that problem then you are good to go.
What problems can you identify in your area and what are the possible answers to thses problems? Let’s discuss in the comment section below.
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