Let’s Invent a New Business

by Jerry Hobby on April 10, 2012

Let’s Invent a New Business

How many times have you looked at some business or invention and said, “I wish I had thought of that!”?  Let’s try a new angle and see if we can create a brand new idea from scratch.  Sound fun?  It’s not easy, but there is a mindset that can help you think creatively and possibly come up with some new ideas.

Most new ideas come from making improvements to an old idea.  The iPhone was not really a major invention.  It was a cell phone with a software system.  We had that already.   It had the ability to install apps.  But Palm and Blackberry already had that.   The iPhone is a tremendous improvement on those other systems.  That’s the point.  What do you see that just feels like it should be better?  Pay attention when you are telling yourself that something you see should be better.  Then once you identify the problem, we can brainstorm the solutions

A lot of online businesses have emerged in recent years.  All these new websites and services are forcing consumers to work much harder to find what they are looking for AND compare the providers.   Think of how when you search Google for “travel agent”, you get twenty billion of them.   Which one is right for you?  Google can’t help you with that.  You must go through them until you find one and settle on it.  Which means of twenty billion travel agents, you only get to really evaluate 5 or ten.   You might be missing out on some really great travel agent but there is no way to know.

Because of the increasing competition online, the importance of the search engine is diminishing.  People use Google, sure.  They also ask for referrals from friends in Facebook.  Or they ask other word-of-mouth sources.

The evolution here is that people need a better way to find things online.  The trend right now is to build portal sites to filter content from multiple sites.  Services like Google Shopper collect retail information and help you find what you are looking for.   There are tools to help you find the best restaurant, the best hotel deal, the best air fair, etc.  And the improvement to the “best airline deal” website is one of the newer sites that find you package deals and more control over criteria.

There are possible business models to find the best deal on tires, the best grocery items, the best newspaper stories nationwide.   Imagine new things that help people do whatever they do faster and that is your potential product.  Simply look for ways to make some tedious process easier or other improvements and you’ll find that there are millions.   There are several new sites that are there simply to help you monitor or manage other sites.   Hootsuite.com is a popular site that lets you post to major social networks all from one page.  Or to schedule posts in advance.  These features are real time savers for people with social networking accounts on various networks.   Even though it is very useful, it has some real weaknesses as well.  There is still room for “the next Hootsuite”.   I have other ideas that are not yet being done.  Once you get your mind in the right mode, you can start to produce great ideas for new web businesses.

Find what’s missing, broken, outdated, or tedious.  Brainstorm ideas for improving it.  Let’s invent a new business!

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