3 Secrets of Finding Multi-Billion Business Ideas as a Startup

3 Secrets of Finding Multi-Billion Business Ideas as a Startup

Are you on the verge of worry wondering how to find a business idea? Maybe you already have one, but you do not think it is viable or even if it is, it has limited opportunity for helping you become a prominent entrepreneur. Definitely, what you are looking for is multi-billion worth idea. You want to establish businesses that will have a global impact such as HP, Microsoft, and Apple among others.

However, your attempts to reach out to professional and business consultancy providers are bearing no fruit. Most of them are suggesting ideas that are already in operation. So, how do you find a multi-billion worth business ideas as a start-up? Here are the secrets:

a. Focus on the market needs and little on your passion

While many business advisors will term passion as a basic requirement for one to become a successful entrepreneur, the phrase is just a myth. The essentiality of any successful business lies in its ability to meet customer needs. At times, passion is not always equal to success.

Hence, as you identify a business idea, do not primarily focus on your area of passion. Rather, keep your eyes on the market needs and the current problems facing your peers and community. In simple terms, be a solution seeker and develop passion on what you do than the opposite.

b. Involve your core peers

There is power in numbers. The concept is not only applicable in political or debating affairs. In business, you need the power of numbers to drive sales. Also, in the idea development stage, numbers can be the wheel to transform your concept into a multi-billion venture. As you know, each person has a unique gift and ability. Hence, involving your peers can help you to shape your business idea by incorporating their opinions and comments. Remember, brainstorming is largely mentioned as idea generation technique.

c. Identify a problem worth solving

The size of the problem a business is solving equals the amount of revenue it is generating. If your focus is to solve a small problem, your business will be of the same size. Sometimes your business may appear impossible due to the size of the problem you are looking on to solve. However, in business, profitable ideas look impossible at their first stage. So, if your dream is to establish a multi-billion worth business idea, target solving a problem with a remarkable impact.

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