Entrepreneurship: Having a (good) idea is half the battle

a given that the first step of entrepreneurship is to have an idea. Therefore, Nova SBE has put together 5 ways to help entrepreneurs develop more and better ideas:

#1 Observe 

Look at the people who are part of your daily life with "seeing eyes". Find out what they do, how they do it and what their most irritating problems are.

#2 Asking questions and seeking answers 

Identify a problem and look for a solution. Example: The Angolan middle class is growing rapidly, which creates new consumer needs. Ask yourself, "What can I do to meet these consumer needs?"

But BEWARE! It may be necessary to reduce the scope of the question, depending on the area of expertise of the entrepreneur. Try (for example) rephrasing the question as follows: The Angolan middle class is growing rapidly which may change their habits and tastes regarding the way they dress, how can I satisfy these new habits and tastes? 

#3 Ensure that you confront your idea with reality

Confront your idea with reality and idealise alternatives that solve the same problem. If you want to be an entrepreneur, you cannot fall into the trap of falling in love with your solution to the point where you start ignoring unfavourable arguments and blistering favourable ones.

#4 Asking for an opinion

Seek the opinion of people who can coldly assess the merits of the idea. And don't be afraid to talk about the idea as much of the merit lies in its implementation.

#5 Knowing the market

As an entrepreneur you have to know your potential customers, their habits, their ways of buying. You have to understand the industry, your competitors, your potential partners. You also have to know the suppliers and the various alternatives at their disposal.

Have you taken the first step and found your good idea? Learn the remaining steps of the entrepreneur through the eBook "8 steps of an entrepreneur".

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Remember: the important thing is to find the opportunity, but also the solution!