Ways to Generate Ideas for Entrepreneurs

Coming up with a new venture can be difficult.  There are several methods to help an entrepreneur generate ideas.

Here are a few that may be helpful:

Focus Groups – In this group, a moderator usually leads a group of people through a discussion. They don’t just ask questions.  The group provides open-ended comments regarding a new product or service that can result in market success.  The group can also be a great resource for screening ideas and concepts.

Brainstorming – This is a group method, where people often get stimulated by meeting with others and participating in organized group discussions/exercises. These groups don’t offer criticism, instead they give a high quantity of ideas. Brainstorming often results in success when the focus is on a specific product or area.

Problem Solving/Analysis – Individuals obtain new ideas and solutions when they focus on specific problems.  They are provided with a list of problems and asked to discuss them (in a group), which often results in an entirely new product idea.